Brigham Minerals Inc (NYSE:MNRL) Short Interest Update
Brigham Minerals Inc (NYSE:MNRL) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 1,150,000 shares, a growth of 12.7% from the August 30th total of 1,020,000 shares. Approximately 13.2% of the shares of the company are short sold. Based on an average daily trading volume, of 146,100 shares, the days-to-cover ratio is presently 7.9 days.
MNRL has been the topic of several recent research reports. Zacks Investment Research lowered shares of Brigham Minerals from a “buy” rating to a “hold” rating in a report on Tuesday. Seaport Global Securities reaffirmed a “buy” rating on shares of Brigham Minerals in a report on Friday, June 21st. Finally, Wells Fargo & Co decreased their price objective on shares of Brigham Minerals from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday. One research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $25.27.
Shares of Brigham Minerals stock opened at $19.31 on Wednesday. The stock has a 50-day moving average price of $20.25. Brigham Minerals has a fifty-two week low of $18.36 and a fifty-two week high of $23.29.
Institutional investors have recently modified their holdings of the business. Warburg Pincus LLC acquired a new position in shares of Brigham Minerals during the 2nd quarter worth about $275,554,000. Nuveen Asset Management LLC acquired a new position in shares of Brigham Minerals during the 2nd quarter worth about $19,202,000. BlackRock Inc. acquired a new position in shares of Brigham Minerals during the 2nd quarter worth about $16,834,000. Vanguard Group Inc. acquired a new position in shares of Brigham Minerals during the 2nd quarter worth about $12,755,000. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of Brigham Minerals during the 2nd quarter worth about $10,600,000. Institutional investors and hedge funds own 57.70% of the company’s stock.
Brigham Minerals Company Profile
Brigham Minerals, Inc owns and operates a portfolio of mineral and royalty interests in the continental United States. The company primarily holds mineral and royalty interests in the Permian Basin in West Texas and New Mexico; the SCOOP/STACK plays in the Anadarko Basin of Oklahoma; the Denver-Julesburg Basin in Colorado; and Wyoming and the Williston Basin in North Dakota.
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