Insider Selling: Brigham Minerals, Inc. (NYSE:MNRL) Director Sells $2,647,120.56 in Stock

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.

The company also recently announced a quarterly dividend, which was paid on Friday, May 28th. Stockholders of record on Friday, May 21st were paid a dividend of $0.32 per share. This is a positive change from Brigham Minerals’s previous quarterly dividend of $0.26. This represents a $1.28 annualized dividend and a dividend yield of 6.33%. The ex-dividend date of this dividend was Thursday, May 20th. Brigham Minerals’s dividend payout ratio is presently 673.68%.

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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Insider Buying and Selling by Quarter for Brigham Minerals (NYSE:MNRL)

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