PHX Minerals (PHX) Initiated with a Buy at Northland Securities

In a report released today, Subash Chandra from Northland Securities initiated coverage with a Buy rating on PHX Minerals (PHXResearch Report) and a price target of $4.00. The company’s shares closed last Friday at $2.89.

According to TipRanks.com, Chandra is a 1-star analyst with an average return of -0.8% and a 43.8% success rate. Chandra covers the Utilities sector, focusing on stocks such as Continental Resources, Southwestern Energy, and Magnolia Oil & Gas.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for PHX Minerals with a $4.00 average price target.

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The company has a one-year high of $5.43 and a one-year low of $1.36. Currently, PHX Minerals has an average volume of 333.6K.

Based on the recent corporate insider activity of 30 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of PHX in relation to earlier this year.

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Panhandle Oil & Gas, Inc. engages in the acquisition, management, and development of non-operated oil and natural gas properties, including wells located on the firm’s mineral and leasehold acreage. Its products include natural gas, crude oil and NGL. The company was founded in 1926 and is headquartered in Oklahoma City, OK.