PHX Minerals Inc. (PHX) saw its stock price rise by 2.05% to close at $3.99 on January 10, 2025, after opening at $3.92. The stock reached an intraday high of $4.01 and a low of $3.94, with trading volume hitting 93,836 shares, significantly above its average of 72,183. The upward movement was likely influenced by increased institutional interest, as Geode Capital Management LLC boosted its stake by 12% in the third quarter, alongside other institutional investors like Empowered Funds LLC and Dimensional Fund Advisors LP also increasing their holdings. This heightened institutional activity may have contributed to the positive sentiment around PHX Minerals.
Additionally, the broader energy sector experienced a boost due to a nearly 3% rise in crude oil prices, driven by new U.S. sanctions targeting Russian oil and gas revenue. This development pushed U.S. West Texas Intermediate to a three-month high, which likely supported gains in energy stocks, including PHX Minerals.