SCHEDULE: PHX Minerals: Major Investor Exits Position

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.

Summary

• This is an Amendment No. 4 to a Schedule 13G filing concerning PHX MINERALS INC.
• The reporting persons, including SRP CAPITAL ADVISORS, LLC, SRP Opportunities II, LP, and their affiliates, have sold all their beneficially owned shares of PHX Minerals Class A Common Stock.
• The complete sale of all shares occurred during the second quarter of 2025.
• This filing serves as the final Schedule 13G for these reporting persons with respect to PHX Minerals Inc.
• As of this filing, the aggregate amount beneficially owned by each reporting person is 0.00 shares, representing 0.0% of the class.

Sentiment

Score: 3

Explanation: The complete divestment by a significant investor group is generally viewed negatively by the market, as it can signal a lack of confidence in the company's future prospects or a strategic shift away from the investment.

Negatives

• A significant investor group, SRP Capital Advisors and its affiliates, has completely divested its entire stake in PHX Minerals Inc.
• The full exit by these entities could signal a lack of long-term confidence or a strategic shift in investment strategy away from the issuer.

Future Outlook

NA

Management Comments

• The reporting persons certify that the securities referred to were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities.

Industry Context

NA

Stakeholder Impact

• Shareholders: The complete divestment by a significant investor could lead to negative market sentiment and potential downward pressure on the stock price.

Next Steps

• This filing is stated to be the final Schedule 13G for the reporting persons with respect to PHX Minerals Inc.

Key Dates

Recommendation

The complete divestment of shares by a significant investor group, SRP Capital Advisors and its affiliates, indicates a lack of long-term conviction in PHX Minerals Inc. This action suggests that the investor has identified more attractive opportunities elsewhere or foresees challenges for the company, which could lead to negative market sentiment and potential share price decline. For a seasoned investor, this signals a need to re-evaluate their own position and potentially exit.

Keywords

PHX Minerals, Schedule 13G, Share Disposition, Investor Exit, Ownership Change, SEC Filing, SRP Capital Advisors, Class A Common Stock