The stock of Panhandle Oil and Gas Inc. (NYSE:PHX) hit a new 52-week high and has $26.75 target or 7.00% above today’s $25.00 share price. The 7 months bullish chart indicates low risk for the $423.28M company. The 1-year high was reported on Dec, 1 by Barchart.com. If the $26.75 price target is reached, the company will be worth $29.63M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock increased 1.42% or $0.35 on December 1, hitting $25. About 28,813 shares traded hands. Panhandle Oil and Gas Inc. (NYSE:PHX) has risen 29.90% since April 28, 2016 and is uptrending. It has outperformed by 23.98% the S&P500.
Analysts await Panhandle Oil and Gas Inc. (NYSE:PHX) to report earnings on December, 8.
According to Zacks Investment Research, “Panhandle Royalty Company is engaged in the ownership, acquisition and management of mineral properties and the exploration for and development of oil and gas properties, principally involving wells located on the Company’s mineral interests. Panhandle and its wholly owned subsidiary, Wood Oil Company, mineral properties and other oil and gas interests are located primarily in Oklahoma New Mexico, Texas, and twenty other states.”
Insitutional Activity: The institutional sentiment increased to 1.07 in 2016 Q2. Its up 0.38, from 0.69 in 2016Q1. The ratio is positive, as 9 funds sold all Panhandle Oil and Gas Inc. shares owned while 27 reduced positions. 9 funds bought stakes while 16 increased positions. They now own 10.31 million shares or 24.56% more from 8.28 million shares in 2016Q1.
Weber Alan W holds 0.17% of its portfolio in Panhandle Oil and Gas Inc. (NYSE:PHX) for 14,436 shares. Nationwide Fund Advisors holds 0% or 11,612 shares in its portfolio. Moreover, State Teachers Retirement Sys has 0% invested in Panhandle Oil and Gas Inc. (NYSE:PHX) for 1,400 shares. Menta Cap Limited Liability Corp has invested 0.03% of its portfolio in Panhandle Oil and Gas Inc. (NYSE:PHX). Apriem Advisors owns 130 shares or 0% of their US portfolio. The New York-based Bnp Paribas Arbitrage Sa has invested 0% in Panhandle Oil and Gas Inc. (NYSE:PHX). Comml Bank Of America Corp De accumulated 1,240 shares or 0% of the stock. Moreover, Central Retail Bank & Tru has 0.01% invested in Panhandle Oil and Gas Inc. (NYSE:PHX) for 1,200 shares. Royal Bancorp Of Canada last reported 0% of its portfolio in the stock. Strs Ohio reported 22,400 shares or 0% of all its holdings. Metropolitan Life Insur Com holds 15,442 shares or 0% of its portfolio. Robotti Robert last reported 764,318 shares in the company. Disciplined Growth Invsts Mn reported 339,387 shares or 0.14% of all its holdings. Deprince Race Zollo has 0.02% invested in the company for 51,595 shares. Deutsche Commercial Bank Ag reported 19,407 shares or 0% of all its holdings.
Insider Transactions: Since June 10, 2016, the stock had 1 buy, and 4 insider sales for $683,393 net activity. On Wednesday, September 7 the insider COFFMAN MICHAEL C sold $523,845. Shares for $373,256 were bought by Blanchard Paul JR. On Friday, June 10 the insider Winfield Robb sold $7,664.
More recent Panhandle Oil and Gas Inc. (NYSE:PHX) news were published by: Prnewswire.com which released: “Panhandle Oil and Gas Inc. Announces Company Presentation at the Southwest …” on November 14, 2016. Also Prnewswire.com published the news titled: “Panhandle Oil and Gas Inc. Announces Dividend Payment” on October 28, 2016. Prnewswire.com‘s news article titled: “Panhandle Oil and Gas Inc. Announces Operations Update” with publication date: January 04, 2016 was also an interesting one.
PHX Company Profile
Panhandle Oil and Gas Inc., incorporated on December 11, 1978, is engaged in the acquisition, management and development of non-operated oil and natural gas properties, including wells located on its mineral and leasehold acreage. The Company’s mineral and leasehold properties are located primarily in Arkansas, New Mexico, North Dakota, Oklahoma and Texas, with properties also located in various other states. The Company’s oil, natural gas liquids (NGLs) and natural gas production is primarily from wells located in Arkansas, Oklahoma and Texas.
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