The stock of Panhandle Oil and Gas Inc. (NYSE:PHX) hit a new 52-week high and has $37.58 target or 76.00% above today’s $21.35 share price. The 5 months bullish chart indicates low risk for the $381.07M company. The 1-year high was reported on Nov, 11 by Barchart.com. If the $37.58 price target is reached, the company will be worth $289.61M 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 0.71% or $0.15 during the last trading session, hitting $21.35. About 91,764 shares traded hands or 364.53% up from the average. Panhandle Oil and Gas Inc. (NYSE:PHX) has risen 25.30% since April 11, 2016 and is uptrending. It has outperformed by 19.15% 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 decreased to 0.69 in 2016 Q2. Its down 0.38, from 1.07 in 2016Q1. The ratio fall, 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.
Us Bankshares De accumulated 0% or 2,000 shares. Pnc Fincl Services Inc reported 12,441 shares or 0% of all its holdings. Invesco, a Georgia-based fund reported 40,989 shares. California State Teachers Retirement Systems last reported 0% of its portfolio in the stock. Connors Investor owns 15,876 shares or 0.05% of their US portfolio. Deprince Race & Zollo has 0.02% invested in the company for 51,595 shares. Hodges Capital Mgmt accumulated 0.03% or 39,854 shares. Cornerstone Capital Mgmt Ltd Llc accumulated 0% or 9,279 shares. Jpmorgan Chase &, a New York-based fund reported 493 shares. Goldman Sachs Grp, a New York-based fund reported 16,917 shares. American owns 8,826 shares or 0% of their US portfolio. Teachers Advsrs accumulated 0% or 30,229 shares. Amica Pension Fund Board Of Trustees accumulated 103,578 shares or 0.23% of the stock. Blackrock, a New York-based fund reported 4,648 shares. Amica Mutual, a Rhode Island-based fund reported 85,252 shares.
Insider Transactions: Since June 10, 2016, the stock had 1 buy, and 4 insider sales for $683,393 net activity. The insider Blanchard Paul JR bought $373,256. The insider COFFMAN MICHAEL C sold $169,400. Winfield Robb sold 460 shares worth $7,664.
More important recent Panhandle Oil and Gas Inc. (NYSE:PHX) news were published by: Prnewswire.com which released: “Panhandle Oil And Gas Inc. Announces Sept. 30, 2016, Reserves And Operations …” on November 09, 2016, also Prnewswire.com published article titled: “Panhandle Oil and Gas Inc. Announces Dividend Payment”, Prnewswire.com published: “Panhandle Oil and Gas Inc. Announces Operations Update” on January 04, 2016. More interesting news about Panhandle Oil and Gas Inc. (NYSE:PHX) was released by: Streetinsider.com and their article: “Form 4 PANHANDLE OIL & GAS INC For: Nov 04 Filed by: Blanchard Paul JR” with publication date: November 08, 2016.
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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