PHX Minerals revises bylaws, removes meeting date rule

Published 11/04/2025, 16:14
PHX Minerals revises bylaws, removes meeting date rule

PHX Minerals Inc. (NYSE:PHX), a $131.75 million market cap player in the crude petroleum and natural gas industry with a robust "GOOD" financial health rating according to InvestingPro, has announced amendments to its corporate bylaws, as revealed in a recent 8-K filing with the Securities and Exchange Commission. The changes, approved by the company's Board on April 9, 2025, include a notable modification to the scheduling of annual stockholder meetings. With a strong current ratio of 2.95 and moderate debt levels, PHX demonstrates solid operational efficiency. Discover more insights about PHX's financial strength with a comprehensive Pro Research Report, available exclusively on InvestingPro.

Previously, Section 1.01 of the bylaws mandated that the company's annual meeting be held within six months following the end of its fiscal year. The revised bylaws have eliminated this timing requirement, granting the Board more flexibility in setting the meeting date. The amendment allows the annual meeting to be held at any location, or via remote communication, at a time determined by the Board each year.

This adjustment to the bylaws signifies a shift in corporate governance practices, potentially allowing PHX Minerals to better accommodate the scheduling needs of its directors and stockholders. The company's fiscal year end remains on December 31, as per its incorporation in the State of Delaware.

The filing also included the Third Amended and Restated Bylaws in its entirety as an exhibit, providing transparency to investors and stakeholders regarding the specifics of the bylaw changes.

PHX Minerals, formerly known as Panhandle Oil & Gas Inc. and Panhandle Royalty Co., has its principal executive offices in Fort Worth, Texas. The company's common stock continues to trade on the New York Stock Exchange under the ticker symbol PHX.

The SEC filing, dated April 11, 2025, serves as the official source of this information, ensuring that shareholders are informed of the latest corporate governance developments within PHX Minerals Inc.

In other recent news, PHX Minerals Inc. reported its fourth-quarter 2024 earnings, delivering an earnings per share (EPS) of $0.04, which exceeded the expected $0.02. Despite this positive earnings performance, the company fell short of revenue expectations, recording $8.02 million against a forecast of $8.71 million. The company managed to reduce its total debt significantly from $29.5 million to $19.8 million. Additionally, PHX Minerals demonstrated a 13% increase in quarterly revenues to $8.9 million compared to the previous quarter. However, the full-year revenues saw an 8% decline, amounting to $33.7 million year-over-year. The company's adjusted EBITDA for the quarter rose to $5.4 million from $4.9 million in the third quarter. Looking ahead, PHX Minerals expressed optimism about its prospects for 2025, with future EPS and revenue forecasts suggesting gradual growth. The company is also exploring strategic opportunities and anticipates potential reserve recoupment with current natural gas prices.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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