Welcome to our dedicated page for PHX Minerals news (Ticker: PHX), a resource for investors and traders seeking the latest updates and insights on PHX Minerals stock.
PHX Minerals Inc. (NYSE: PHX) is a Fort Worth-based natural gas and oil mineral company with a strategic focus on perpetual mineral and natural gas ownership. As part of its business plan, PHX has shifted away from drilling activities and now concentrates primarily on owning mineral acreage. The company holds substantial mineral assets across key locations including Oklahoma, Texas, Louisiana, North Dakota, and Arkansas.
PHX derives its revenues from royalties obtained through the production and sale of natural gas, oil, and natural gas liquids (NGLs). A smaller portion of its income also comes from its legacy interests in working properties that have ceased operations. The company's mineral assets have been strategically acquired to enhance its royalty volumes and streamline cash flow, positioning it for consistent performance in fluctuating market conditions.
Recent achievements include significant royalty volume growth, expansion of 2P royalty reserves, and the acquisition of high-quality mineral acres in the Haynesville and SCOOP plays. These initiatives have strengthened the company’s portfolio, allowing it to raise its quarterly dividend by 33% despite challenging market conditions driven by natural gas price volatility.
PHX maintains a strong financial condition with a proactive approach to capital management. The company recently had its $50 million credit facility reaffirmed and extended to 2028 by its bank lending group led by Independent Financial, demonstrating confidence in PHX's asset quality and financial stability.
Management remains committed to enhancing shareholder value through a focused acquisition strategy, optimizing its substantial mineral holdings, and maintaining a strong balance sheet. Upcoming milestones include the release of quarterly and annual financial results, coupled with investor conference calls to discuss performance and strategic outlook.
For more information, visit the company's website at www.phxmin.com.
LSB Industries (NYSE: LXU) announced the retirement of Richard Roedel as Chairman of the Board due to health reasons. Mark Behrman, the company's President and CEO, has been elected as the new Board Chairman, while Lynn White has been appointed Lead Independent Director. Mr. Roedel will remain on the Board until a successor is identified to ensure a smooth transition.
Mr. Behrman, who joined LSB in 2014 and became President and CEO in 2018, has led the company through operational and balance sheet transformation. He has also established LSB's low carbon ammonia strategy. With 30 years of experience in finance and investment banking, Mr. Behrman has been instrumental in positioning LSB for future growth in the global energy transition.
PHX Minerals (NYSE: PHX) reported financial and operating results for Q2 2024. The company achieved a record royalty production of 2,709 Mmcfe, a 46% increase from Q1 2024. Net income was $1.3 million, or $0.04 per diluted share, compared to a net loss of $0.2 million in Q1 2024. Adjusted EBITDA rose to $6.4 million from $4.6 million in Q1 2024.
PHX converted 55 gross wells to producing status and reduced its total debt by $4.0 million to $28.8 million. The debt-to-adjusted EBITDA ratio improved to 1.32x. The company increased its fixed quarterly dividend by 33% to $0.04 per share, payable on Sep. 6, 2024.
PHX Minerals Inc. (NYSE: PHX) has announced its schedule for releasing financial results for the quarter ended June 30, 2024. The company will release its quarterly results on Wednesday, August 7, 2024, after the market closes. Following this, management will host a conference call on Thursday, August 8, 2024, at 11 a.m. EDT to discuss the results.
Investors and interested parties can access the conference call by dialing 877-407-3088 (U.S. Toll-Free) or 201-389-0927. A replay of the call will be available for 14 days by dialing 877-660-6853 and using the access code 13748051. Additionally, a live audio webcast of the conference call will be accessible from the 'Investors' section of the PHX website and will be archived for at least 90 days.
PHX Minerals, listed on the NYSE as PHX, has announced a quarterly dividend of $0.03 per share.
This dividend will be paid on June 11, 2024, to shareholders who own the stock as of May 31, 2024.
The announcement was made by the company's Board of Directors on May 20, 2024.
PHX Minerals Inc. reported a net loss of ($0.2) million for the quarter ended March 31, 2024, with Adjusted EBITDA at $4.6 million. Royalty and total production volumes decreased, and debt was $30.8 million. The company entered into a credit agreement amendment extending maturity to Sept. 1, 2028.
FAQ
What is the current stock price of PHX Minerals (PHX)?
What is the market cap of PHX Minerals (PHX)?
What does PHX Minerals Inc. do?
Where are PHX Minerals' primary operations located?
How does PHX Minerals generate revenue?
What are the recent achievements of PHX Minerals?
What is PHX Minerals' financial condition?
How does PHX plan to enhance shareholder value?
When will PHX release its next financial results?
Where can I find more information about PHX Minerals?
