Falcon Minerals (NASDAQ:FLMN) Downgraded by Zacks Investment Research

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Falcon Minerals (NASDAQ:FLMN) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Monday, Zacks.com reports.

According to Zacks, “Falcon Minerals Corporation own and acquire oil-weighted minerals. The company owns mineral, royalty and over-riding royalty interests primarily in the Eagle Ford and Austin Chalk in Karnes County, DeWitt County and Gonzales County Texas. Falcon Minerals Corporation, formerly named Osprey Energy Acquisition Corp., is based in San Diego, California. “

Separately, Wells Fargo & Company raised Falcon Minerals from an “equal weight” rating to an “overweight” rating and set a $8.00 price objective on the stock in a research note on Wednesday, March 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Falcon Minerals currently has an average rating of “Hold” and a consensus target price of $5.00.

FLMN stock opened at $4.59 on Monday. The firm has a market cap of $395.23 million, a PE ratio of 45.90 and a beta of 1.78. Falcon Minerals has a 12 month low of $1.82 and a 12 month high of $5.03. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.75 and a quick ratio of 2.75. The firm has a 50 day simple moving average of $4.53 and a 200 day simple moving average of $3.50.

Falcon Minerals (NASDAQ:FLMN) last posted its quarterly earnings data on Thursday, March 4th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.02). Falcon Minerals had a return on equity of 1.90% and a net margin of 10.72%. The company had revenue of $9.50 million for the quarter, compared to analyst estimates of $11.07 million. As a group, sell-side analysts expect that Falcon Minerals will post 0.07 earnings per share for the current year.

A number of hedge funds have recently made changes to their positions in FLMN. JPMorgan Chase & Co. grew its position in Falcon Minerals by 568.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,197,712 shares of the company’s stock worth $3,773,000 after purchasing an additional 1,018,594 shares during the last quarter. Invenomic Capital Management LP acquired a new position in shares of Falcon Minerals during the fourth quarter valued at about $1,370,000. Kennedy Capital Management Inc. bought a new stake in shares of Falcon Minerals in the fourth quarter valued at about $709,000. BlackRock Inc. increased its stake in Falcon Minerals by 3.7% during the fourth quarter. BlackRock Inc. now owns 3,007,738 shares of the company’s stock valued at $9,475,000 after acquiring an additional 106,108 shares during the period. Finally, First Midwest Bank Trust Division acquired a new position in Falcon Minerals in the 1st quarter valued at approximately $459,000. 31.77% of the stock is currently owned by institutional investors and hedge funds.

Falcon Minerals Company Profile

Falcon Minerals Corporation acquires and owns mineral, royalty, and over-riding royalty interests in oil and natural gas properties in North America. It owns interests covering approximately 256,000 gross unit acres in the Eagle Ford Shale and Austin Chalk in Karnes, DeWitt, and Gonzales Counties in Texas, as well as approximately 75,000 gross unit acres in the Marcellus Shale across Pennsylvania, Ohio, and West Virginia.

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