What analyst predict for Panhandle Royalty Company NYSE:PHX ?


What analyst predict for Panhandle Royalty Company NYSE:PHX ?

Panhandle Royalty Company headquartered in Oklahoma City, Oklahoma, United States is reporting their earnings on 12/11/2018 after the bell. Street forecast for the quarter ending Sep 2018 is $0.07.

According to stock market daily analyst this is Lower then same time previous year.Panhandle Royalty Company, reported EPS for the same quarter last year was $0.06.



About Panhandle Royalty Company NYSE:PHX

Oklahoma City-based, Panhandle Oil and Gas Inc. (NYSE: PHX) is an oil and natural gas mineral and leasehold acreage-focused capital allocator seeking the highest per share returns while maintaining a conservative net leverage ratio to ensure survivability and prosperity in all business and mineral commodity price cycles. The Company’s capital allocation tools include: (i) selective participation in working interest wells on our existing holdings in the highest quality, low-risk projects that are projected to exceed corporate return thresholds; (ii) aggressive leasing of our mineral holdings outside of areas of potential working interest participation; (iii) acquisition of undervalued mineral rights in established resource plays; (iv) divestiture of limited optionality and overvalued mineral rights; (v) payment of quarterly dividends, with optionality for special dividends when available capital exceeds operational requirements and has no other higher shareholder return option for an extended time period; and (vi) repurchase of common shares when the share price trades at a material discount to the Company’s estimated intrinsic value.

Panhandle Oil and Gas Inc. owns approximately 258,600 acres of perpetual mineral rights and 19,000 acres of leasehold rights in 10 states with a concentration in Oklahoma, Arkansas, Texas, New Mexico and North Dakota. Currently active areas include the STACK, SCOOP, Cana and SE Oklahoma Woodford plays in Oklahoma, the Eagle Ford Shale in Texas, the Permian Basin in New Mexico and Texas and the Bakken in North Dakota. As of September 30, 2018, there are 6,079 gross producing oil and gas wells on our mineral and leasehold acreage that generate revenue for the Company. We own a working interest in 1,764 wells, many of which also have a royalty interest, and we own a royalty interest only in an additional 4,315 wells. Production in the 3rd quarter of fiscal year 2018 averaged 22,887 Mcf per day, 882 Bo per day and 738 BNGL per day. Seventy-two percent of the Company’s oil and gas revenue is generated from working interest and twenty-eight percent is from royalty interest. The Company’s proved reserves at September 30, 2018, were 173.6 Bcfe, with 69% being natural gas, 21% oil and 10% natural gas liquids. The Company’s total proved, probable and possible reserves at September 30, 2018, were 636.4 Bcfe. Panhandle does not operate any of its oil and gas properties. Development of the Company’s oil and gas properties is conducted in association with operating oil and gas companies, primarily large independent companies.

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