PHX Minerals Inc (NYSE:PHX) stock rose 1.37% (As on December 14, 11:54:04 AM UTC-4, Source: Google Finance) after the company posted mixed result for the fourth quarter of FY 22. Royalty production volumes for the fiscal fourth quarter of 2022 increased 15% to a record 1,842 Mmcfe, and total production volumes for the fiscal fourth quarter of 2022 increased 7% to 2,592 Mmcfe, compared to the fiscal third quarter of 2022. Royalty production volumes for fiscal year 2022 increased 49% to 6,209 Mmcfe, and total production volumes for fiscal year 2022 increased 6% to 9,609 Mmcfe, compared to fiscal year 2021. 172 gross (0.85 net) wells in progress as of Sept. 30, 2022, compared to 155 gross (0.79 net) as of June 30, 2022. Net total proved royalty interest reserves increased 45% to 52.8 Bcfe at Sept. 30, 2022, from 36.4 Bcfe at Sept. 30, 2021.

PHX in the fourth quarter of FY 22 has reported the adjusted earnings per share of 28 cents, beating the analysts’ estimates for the adjusted earnings per share of 19 cents, according to Zacks Investment Research. The company had reported the adjusted revenue growth of 35.9 percent to $17.5 million in the fourth quarter of FY 22, missing the analysts’ estimates for revenue of $18.7 billion. Adjusted EBITDA in the fiscal fourth quarter of 2022 and full fiscal year 2022 was $8.4 million and $25.8 million, respectively, compared to $7.2 million in the fiscal third quarter of 2022 and $15.7 million for fiscal year 2021. Net income in the fiscal fourth quarter of 2022 and full fiscal year 2022 was $9.2 million, or $0.26 per share, and $20.4 million, or $0.59 per share, respectively, compared to net income of $8.6 million, or $0.25 per share, in the fiscal third quarter of 2022 and net loss of $(6.2) million, or $(0.24) per share, for fiscal year 2021.

Meanwhile, During the fiscal fourth quarter of 2022, PHX closed on acquisitions totaling 923 net royalty acres located in the SCOOP and the Haynesville plays for approximately $13.5 million, bringing the total acquisitions in fiscal year 2022 to 4,570 net royalty acres for approximately $48.0 million.

Additionally, PHX announced a 12.5% increase in its fixed quarterly dividend to $0.0225 per share, payable on March 3, 2023, to stockholders of record on Feb. 17, 2023. On Dec. 7, 2022, PHX had its borrowing base reaffirmed at $50 million and added an additional bank to the lending group.