Revenue Update on Panhandle Oil and Gas(NYSE:PHX)

Panhandle Oil and Gas(NYSE:PHX) announced the earnings results for Fiscal Year 2017 and Q1. The results came in during After-Market on Feb 6, 2017. Earnings per share were $-0.13.

Panhandle Oil and Gas (PHX) shares turned negative on Tuesdays trading session with the shares closing down -0.75 points or -3.48% at a volume of 39,782. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $21.55. The peak price level was also seen at $21.55 while the days lowest was $20.7. Finally the shares closed at $20.8. The 52-week high of the shares is $27.7 while the 52-week low is $13.11. According to the latest information available, the market cap of the company is $346 M.

Several Insider Transactions has been reported to the SEC. On Jan 4, 2017, Lee M Canaan (director) purchased 5 shares at $24.46 per share price.Also, On Dec 21, 2016, Michael C Coffman (Chief Executive Officer) sold 30,000 shares at $23.67 per share price.On Sep 14, 2016, Paul Jr Blanchard (COO) purchased 23,316 shares at $16.01 per share price, according to the Form-4 filing with the securities and exchange commission.

Panhandle Oil and Gas Inc. is engaged in the acquisition management and development of non-operated oil and natural gas properties including wells located on the Company’s mineral and leasehold acreage. Its mineral and leasehold properties are located primarily in Arkansas New Mexico North Dakota Oklahoma and Texas with properties also located in several other states of the United States. The majority of the Company’s oil natural gas liquids (NGL) and natural gas production is from wells located in Oklahoma and Arkansas. The Company’s principal products in order of revenue generated are natural gas crude oil and NGL. These products are sold to various purchasers including pipeline and marketing companies which service the areas where the Company’s producing wells are located.

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