Brigham Minerals, Inc. (NYSE:MNRL) Director W Howard Keenan, Jr. sold 128,751 shares of the company’s stock in a transaction on Friday, June 4th. The shares were sold at an average price of $20.56, for a total value of $2,647,120.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Shares of MNRL opened at $20.22 on Friday. The stock’s 50-day moving average is $17.43. The company has a debt-to-equity ratio of 0.05, a current ratio of 4.15 and a quick ratio of 4.15. Brigham Minerals, Inc. has a fifty-two week low of $8.05 and a fifty-two week high of $20.97. The firm has a market cap of $1.15 billion, a P/E ratio of -19.82 and a beta of 2.37.
Brigham Minerals (NYSE:MNRL) last posted its earnings results on Thursday, May 6th. The company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.05). Brigham Minerals had a positive return on equity of 1.72% and a negative net margin of 41.33%. The firm had revenue of $33.77 million for the quarter, compared to analysts’ expectations of $30.32 million. As a group, analysts predict that Brigham Minerals, Inc. will post 0.92 earnings per share for the current fiscal year.
MNRL has been the topic of several research reports. Royal Bank of Canada reissued a “buy” rating and issued a $18.00 target price on shares of Brigham Minerals in a research report on Sunday, February 14th. Zacks Investment Research downgraded Brigham Minerals from a “hold” rating to a “sell” rating in a research report on Wednesday. Credit Suisse Group upped their target price on Brigham Minerals from $16.00 to $18.00 and gave the company an “outperform” rating in a research report on Thursday, February 25th. Barclays upped their target price on Brigham Minerals from $17.00 to $18.00 and gave the company an “overweight” rating in a research report on Thursday, June 3rd. Finally, TheStreet raised Brigham Minerals from a “d-” rating to a “c-” rating in a research report on Friday, May 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $16.00.
Several hedge funds have recently bought and sold shares of the company. Voloridge Investment Management LLC purchased a new stake in shares of Brigham Minerals during the 1st quarter worth about $927,000. D. E. Shaw & Co. Inc. boosted its stake in shares of Brigham Minerals by 428.4% during the 1st quarter. D. E. Shaw & Co. Inc. now owns 69,777 shares of the company’s stock worth $1,022,000 after acquiring an additional 56,572 shares in the last quarter. Cushing Asset Management LP purchased a new position in Brigham Minerals in the 1st quarter valued at about $709,000. Jane Street Group LLC purchased a new position in Brigham Minerals in the 1st quarter valued at about $178,000. Finally, Yaupon Capital Management LP purchased a new position in Brigham Minerals in the 1st quarter valued at about $47,000. 67.69% of the stock is currently owned by institutional investors and hedge funds.
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 South Central Oklahoma Oil Province and Sooner Trend Anadarko Basin Canadian and Kingfisher Counties 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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