PHX Minerals Inc. (NYSE:PHX), a player in the crude petroleum and natural gas industry, has witnessed a recent purchase of shares by a key executive. Chad True, the company's Principal Accounting Officer, acquired shares valued at a total of $6,565. The transactions occurred on May 23, 2024, with prices ranging from $3.27 to $3.3 per share.
The purchase involved multiple transactions, with True acquiring 500 shares at $3.29 each, another 500 shares at $3.30 each, and an additional 1,000 shares at $3.27 each. Following these acquisitions, True's total ownership in PHX Minerals includes a significant number of shares, which also comprises restricted shares subject to performance criteria and the passage of time.
Investors often monitor insider buying as it can signal executives' confidence in the company's future prospects. The recent transactions by True could be interpreted as a positive sign, reflecting a belief in the potential value of PHX Minerals' stock.
PHX Minerals, formerly known as Panhandle Oil & Gas Inc., has been operating within the energy sector and is incorporated in Delaware. The company's shares are publicly traded, and these latest transactions are a part of the public record, providing transparency to investors and the market.
For those interested in the company's movements, PHX Minerals' insider transactions can be found in the public filings with the Securities and Exchange Commission. Such financial activities offer insights into the actions of company executives and can be a valuable piece of information for current and potential investors.
InvestingPro Insights
As PHX Minerals Inc. (NYSE:PHX) continues to make headlines with insider transactions, prospective and current investors may find additional context through key data and insights from InvestingPro. The company, with a market capitalization of $118.08 million, has been demonstrating robust financial health, evidenced by a gross profit margin of 85.11% over the last twelve months as of Q1 2024. This impressive margin is a testament to PHX Minerals' ability to manage costs effectively while maintaining profitability in the competitive crude petroleum and natural gas industry.
Moreover, the company's commitment to shareholder returns is highlighted by its track record of maintaining dividend payments for 41 consecutive years, offering a current dividend yield of 3.67%. This consistent return to investors underlines the company's financial stability and disciplined approach to capital allocation.
On the flip side, it's noteworthy that the revenue has seen a significant contraction, with a decrease of 53.07% over the last twelve months as of Q1 2024. Despite this challenge, PHX Minerals' financial position remains strong, with liquid assets surpassing short-term obligations, ensuring the company can navigate through market fluctuations with resilience.
Investors looking to delve deeper into PHX Minerals' prospects can explore more InvestingPro Tips, which include insights such as analysts' earnings revisions and the company's trading patterns. Currently, InvestingPro offers a total of 7 additional tips for PHX Minerals, which can be accessed at: https://www.investing.com/pro/PHX. For those considering an InvestingPro subscription, be sure to use coupon code PRONEWS24 to receive an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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