Northland analyst Donovan Schafer lowered the firm’s price target on PHX Minerals to $4.30 from $5 and keeps an Outperform rating on the shares after a “slight” Q4 miss and “soft” 2024 guidance. Lower year-over-year royalty growth is being driven by lower natural gas prices and their impact on the pace of drilling and completions and management suggested guidance would be more in the range of 10%-20% year-over-year royalty growth under normal circumstances, noted the analyst.
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Read More on PHX:
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