PHX Minerals Inc. (NYSE:PHX) director Mark T. Behrman has made a significant investment in the company's stock, purchasing shares with a total value exceeding $74,000. The transactions took place on March 25, 2024, as reported in a recent filing with the Securities and Exchange Commission.
Behrman acquired a total of 23,000 shares through two separate purchases. The first transaction saw him buy 429 shares at a price of $3.20 each. In the second and larger transaction, he purchased 22,571 shares at an average price of $3.2198 per share. The combined investment for these purchases amounted to approximately $74,046.
These recent acquisitions by Behrman have increased his direct ownership in PHX Minerals Inc., reflecting a strong vote of confidence in the company's future prospects. The total number of shares now held by Behrman includes restricted shares, which are subject to vesting based on elapsed time.
PHX Minerals Inc., based in Fort Worth, Texas, operates within the crude petroleum and natural gas industry under the standard industrial classification code 1311. The company, formerly known as Panhandle Oil & Gas Inc., has a history that traces back to name changes from Panhandle Royalty Co in 1992 and later in 2007.
Investors often monitor insider transactions as they can provide insights into an executive's view of the company's valuation and potential. Behrman's recent stock purchases could be interpreted as an optimistic signal about PHX Minerals' performance and outlook.
The disclosed transactions are part of the public record and provide transparency into the actions of the company's directors and executives. Interested parties can access detailed information about such transactions through the SEC's EDGAR database.
InvestingPro Insights
In light of the recent insider purchases by director Mark T. Behrman, PHX Minerals Inc. showcases several notable financial metrics. The company's market capitalization stands at a modest $120.13 million, with a trailing twelve months price-to-earnings (P/E) ratio as of Q4 2023 at 11.79. This valuation metric indicates that investors may find the stock to be reasonably priced relative to its earnings.
InvestingPro Data also reveals that PHX Minerals has maintained a strong gross profit margin of 85.24% over the last twelve months as of Q4 2023, which is an impressive feat and aligns with one of the InvestingPro Tips highlighting the company's impressive gross profit margins. Additionally, the firm has shown a commitment to its shareholders by maintaining dividend payments for 41 consecutive years, currently offering a dividend yield of 3.81% as of March 2024.
Despite recent revenue declines, with a -47.68% year-over-year revenue growth, another InvestingPro Tip suggests that analysts are predicting profitability for PHX Minerals this year. This, combined with the company's liquid assets exceeding short-term obligations, paints a picture of financial stability and potential for investor returns.
For readers interested in a deeper analysis, InvestingPro offers additional insights on PHX Minerals Inc., including more InvestingPro Tips that provide a comprehensive view of the company's financial health and future prospects. With the promo code PRONEWS24, readers can get an extra 10% off a yearly or biyearly Pro and Pro+ subscription to access these valuable tips and make informed investment decisions.
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