Zacks Investment Research Downgrades Brigham Minerals (NYSE:MNRL) to Sell

Brigham Minerals (NYSE:MNRL) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “Brigham Minerals Inc. is a mineral acquisition company. It is focused on acquiring oil and gas mineral rights in unconventional, shale plays throughout the United States – including the Delaware and Midland Basins in Texas, the SCOOP and STACK plays in Oklahoma, the DJ Basin in Colorado and Wyoming, as well as the Bakken and Three Forks plays in North Dakota. Brigham Minerals Inc. is based in Austin, Texas. “

Other research analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed a “buy” rating and issued a $18.00 price objective on shares of Brigham Minerals in a research report on Sunday, February 14th. Barclays lifted their price objective on shares of Brigham Minerals from $17.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, June 3rd. TheStreet raised shares of Brigham Minerals from a “d-” rating to a “c-” rating in a research report on Friday, May 7th. Finally, Credit Suisse Group boosted their target price on shares of Brigham Minerals from $16.00 to $18.00 and gave the stock an “outperform” rating in a research report on Thursday, February 25th. One research analyst has rated the stock with a sell rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $16.00.

Shares of MNRL opened at $20.22 on Wednesday. Brigham Minerals has a 1-year low of $8.05 and a 1-year high of $20.97. The firm’s 50-day moving average is $17.43. The company has a market cap of $1.15 billion, a price-to-earnings ratio of -19.82 and a beta of 2.37. The company has a quick ratio of 4.15, a current ratio of 4.15 and a debt-to-equity ratio of 0.05.

Brigham Minerals (NYSE:MNRL) last announced its quarterly earnings data on Thursday, May 6th. The company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.05). The company had revenue of $33.77 million for the quarter, compared to the consensus estimate of $30.32 million. Brigham Minerals had a negative net margin of 41.33% and a positive return on equity of 1.72%. Equities analysts predict that Brigham Minerals will post 0.92 EPS for the current year.

In other news, Director W Howard Keenan, Jr. sold 3,975 shares of the firm’s stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $16.35, for a total transaction of $64,991.25. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Blake C. Williams sold 26,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 2nd. The stock was sold at an average price of $18.99, for a total transaction of $503,235.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 505,359 shares of company stock worth $9,514,589. 3.70% of the stock is owned by corporate insiders.

A number of large investors have recently bought and sold shares of the stock. Voloridge Investment Management LLC purchased a new position in Brigham Minerals in the 1st quarter valued at $927,000. D. E. Shaw & Co. Inc. grew its position in Brigham Minerals by 428.4% in the 1st quarter. D. E. Shaw & Co. Inc. now owns 69,777 shares of the company’s stock valued at $1,022,000 after buying an additional 56,572 shares during the last quarter. Cushing Asset Management LP purchased a new position in Brigham Minerals in the 1st quarter valued at $709,000. Jane Street Group LLC purchased a new position in Brigham Minerals in the 1st quarter valued at $178,000. Finally, Yaupon Capital Management LP purchased a new position in Brigham Minerals in the 1st quarter valued at $47,000. Hedge funds and other institutional investors own 67.69% of the company’s stock.

About Brigham Minerals

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.

Recommended Story: Hang Seng Index (HSI)

Get a free copy of the Zacks research report on Brigham Minerals (MNRL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Brigham Minerals (NYSE:MNRL)

Receive News & Ratings for Brigham Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brigham Minerals and related companies with MarketBeat.com's FREE daily email newsletter.