AQR Capital Management LLC Makes New Investment in Falcon Minerals Co. (NASDAQ:FLMN)

AQR Capital Management LLC purchased a new stake in shares of Falcon Minerals Co. (NASDAQ:FLMN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,921 shares of the company’s stock, valued at approximately $61,000.

Several other institutional investors and hedge funds have also modified their holdings of FLMN. Cubist Systematic Strategies LLC bought a new position in Falcon Minerals during the second quarter valued at about $165,000. Occudo Quantitative Strategies LP bought a new position in Falcon Minerals during the second quarter valued at about $144,000. Royal Bank of Canada boosted its stake in Falcon Minerals by 11.9% during the second quarter. Royal Bank of Canada now owns 24,128 shares of the company’s stock valued at $122,000 after buying an additional 2,564 shares in the last quarter. Credit Suisse AG bought a new position in Falcon Minerals during the second quarter valued at about $541,000. Finally, Schonfeld Strategic Advisors LLC bought a new position in Falcon Minerals during the second quarter valued at about $79,000. 29.20% of the stock is currently owned by institutional investors.

Shares of NASDAQ FLMN opened at $5.10 on Thursday. Falcon Minerals Co. has a one year low of $2.19 and a one year high of $6.58. The firm has a market capitalization of $440.52 million, a PE ratio of 31.88 and a beta of 1.78. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 0.17. The business has a 50-day moving average price of $5.50 and a two-hundred day moving average price of $5.04.

Falcon Minerals (NASDAQ:FLMN) last announced its quarterly earnings data on Wednesday, November 3rd. The company reported $0.11 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.03. Falcon Minerals had a return on equity of 3.77% and a net margin of 14.63%. The firm had revenue of $19.21 million during the quarter, compared to analyst estimates of $19.50 million. During the same period last year, the company posted $0.01 EPS. Research analysts anticipate that Falcon Minerals Co. will post 0.21 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 8th. Shareholders of record on Tuesday, November 23rd will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Monday, November 22nd. This is a positive change from Falcon Minerals’s previous quarterly dividend of $0.15. This represents a $0.62 dividend on an annualized basis and a yield of 12.16%. Falcon Minerals’s dividend payout ratio (DPR) is presently 387.50%.

FLMN has been the subject of several research reports. Jonestrading reaffirmed a “buy” rating and set a $11.00 target price on shares of Falcon Minerals in a research note on Friday, October 1st. Zacks Investment Research lowered Falcon Minerals from a “buy” rating to a “hold” rating in a research report on Wednesday. TheStreet upgraded Falcon Minerals from a “d” rating to a “c” rating in a research report on Monday, August 23rd. Piper Sandler increased their price target on Falcon Minerals from $5.00 to $6.50 and gave the company an “overweight” rating in a research report on Wednesday, October 13th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $8.00 price target on shares of Falcon Minerals in a research report on Thursday, September 30th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Falcon Minerals currently has a consensus rating of “Buy” and an average price target of $7.88.

Falcon Minerals Company Profile

Falcon Minerals Corp. engages in the provision of oil and gas minerals. It also owns mineral, royalty, and over-riding royalty interests in the Eagle Ford and Austin Chalk in Karnes County, DeWitt County, and Gonzales County Texas. The company was founded by Daniel C. Herz on June 13, 2016 and is headquartered in New York, NY.

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Institutional Ownership by Quarter for Falcon Minerals (NASDAQ:FLMN)

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