Phx Minerals INC

Market Movers (8-K)

PHX Minerals Inc. has successfully completed its merger with WhiteHawk Acquisition, Inc., a subsidiary of WhiteHawk Income Corporation, resulting in its shares being delisted from the New York Stock Exchange.
Capital raise
PHX Minerals Inc. has entered into a definitive agreement to be acquired by WhiteHawk in an all-cash transaction valued at $4.35 per share, totaling approximately $187 million including net debt.
Capital raise
PHX Minerals Inc. has updated its bylaws, effective April 9, 2025, to modify procedures for annual stockholder meetings and director nominations, among other changes.
PHX Minerals reports a slight increase in royalty production volumes but a decrease in net income for the year ended December 31, 2024, while continuing to evaluate strategic alternatives.
Worse than expected
PHX Minerals reported a net income of $1.1 million for the quarter ended September 30, 2024, a decrease compared to the previous quarter and the same period last year, while achieving its second-highest royalty production volumes.
Worse than expected
PHX Minerals Inc. announced record royalty production volumes for the quarter ended June 30, 2024, and a 33% increase in its fixed quarterly dividend.
Better than expected

Quarterly Earnings (10-Q)

PHX Minerals Inc. reports a net income of $4.38 million for Q1 2025 and announces a definitive agreement to be acquired for $4.35 per share.
Better than expected
PHX Minerals Inc. experienced a decrease in net income for the third quarter of 2024, primarily due to lower natural gas, oil, and NGL prices and decreased lease bonus revenue.
Worse than expected
PHX Minerals Inc. experienced a mixed second quarter in 2024, with increased production volumes offset by lower natural gas prices and fluctuating derivative contract values.
Worse than expected
PHX Minerals Inc. experienced a net loss in the first quarter of 2024 due to decreased natural gas, oil, and NGL sales and lower gains on derivative contracts.
Worse than expected

Annual Reports (10-K)

PHX Minerals Inc. reports a net income of $2.3 million for fiscal year 2024, emphasizing its strategic focus on perpetual mineral ownership and active portfolio management.
Worse than expected
PHX Minerals Inc. files amended executive severance agreements and its annual report, detailing financial performance and strategic focus on mineral ownership.
Worse than expected

Insider Trading (Form 4)

A director of PHX Minerals Inc. reported the disposition of all his shares and Deferred Stock Units at $4.35 per share following the company's acquisition by WhiteHawk Acquisition, Inc.
PHX Minerals Inc. Director Glen A. Brown has reported the complete disposition of his common stock holdings, including vested restricted shares and deferred stock units, following the company's acquisition by WhiteHawk Acquisition, Inc. at $4.35 per share.
PHX Minerals Inc. Executive Vice President and CFO Raphael D'Amico reported the final disposition of his shares and restricted stock awards as the company completed its merger with WhiteHawk Acquisition, Inc. at $4.35 per share.
PHX Minerals Inc. Chief Executive Officer Chad L. Stephens reported the disposition of over 1.8 million shares of common stock at $4.35 per share following the company's acquisition by WhiteHawk Acquisition, Inc. on June 23, 2025.
PHX Minerals Inc. Principal Accounting Officer, Chad True, reported the conversion of all his shares into cash at $4.35 per share following the company's acquisition by WhiteHawk Acquisition, Inc.
A recent SEC Form 4 filing reveals that Mark T. Behrman, a director of PHX Minerals Inc., converted all his common stock and deferred stock units into cash at $4.35 per share following the company's acquisition by WhiteHawk Acquisition, Inc.

Proxy Statements (Def-14A)

PHX Minerals Inc. will hold its annual stockholders meeting on May 16, 2024, to vote on director elections, executive compensation, auditor ratification, and an increase in authorized common stock.
Capital raise
PHX Minerals Inc. is holding its annual meeting on May 16, 2024, to vote on key proposals including the election of directors, executive compensation, auditor ratification, and an increase in authorized shares.
Capital raise
Worse than expected

Schedule 13D - Activist Investments

PHX Minerals Inc. has completed its merger with WhiteHawk Merger Sub, Inc., becoming a wholly-owned subsidiary of WhiteHawk Acquisition, Inc., and its common stock has ceased trading on the New York Stock Exchange.
Edenbrook Capital, LLC and Jonathan Brolin have filed an amendment to their Schedule 13D, disclosing a reduced beneficial ownership of 3.2% in PHX Minerals Inc. following substantial share sales in May 2025.
Worse than expected
WhiteHawk Income Corporation and its subsidiaries have initiated a cash tender offer to acquire all outstanding shares of PHX Minerals Inc. for $4.35 per share, with key stockholders supporting the transaction.
Capital raise

Schedule 13G - Passive Investments

SRP Capital Advisors and related entities have fully divested their holdings in PHX Minerals Inc. during the second quarter of 2025, marking their final Schedule 13G filing.
Worse than expected
Glazer Capital and Paul J. Glazer report zero beneficial ownership in PHX Minerals Inc. common stock, indicating a complete divestment.
Worse than expected
Beryl Capital Management and its affiliates have fully divested their beneficial ownership in PHX Minerals Inc., now holding 0% of common stock.
Robert A. Hefner III has filed an amended Schedule 13G, confirming his beneficial ownership of 8.03% of PHX Minerals Inc.'s common stock as of March 31, 2025.
Glazer Capital, LLC and its managing member Paul J. Glazer have reported a beneficial ownership of 9.20% in PHX Minerals Inc., totaling 3,489,541 shares of common stock.
Beryl Capital Management LLC, Beryl Capital Management LP, Beryl Capital Partners II LP, and David A. Witkin have collectively disclosed an 8.9% passive beneficial ownership stake in PHX Minerals Inc. as of May 19, 2025.