Brigham Minerals Inc (NYSE:MNRL) – Equities researchers at SunTrust Banks raised their FY2021 EPS estimates for shares of Brigham Minerals in a research note issued to investors on Tuesday, January 21st, Zacks Investment Research reports. SunTrust Banks analyst W. Fitzpatrick now forecasts that the company will earn $0.87 per share for the year, up from their prior forecast of $0.83.
MNRL has been the subject of a number of other research reports. Capital One Financial initiated coverage on shares of Brigham Minerals in a research report on Friday, October 18th. They set an “overweight” rating and a $23.00 target price for the company. Tudor Pickering initiated coverage on shares of Brigham Minerals in a research report on Wednesday, January 22nd. They set a “buy” rating for the company. Royal Bank of Canada reissued a “buy” rating and set a $25.00 target price on shares of Brigham Minerals in a research report on Monday, January 20th. Wells Fargo & Co decreased their target price 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, October 15th. Finally, Zacks Investment Research raised shares of Brigham Minerals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, January 28th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $24.85.
NYSE:MNRL opened at $17.04 on Friday. The company has a 50 day simple moving average of $19.11 and a two-hundred day simple moving average of $19.67. The company has a debt-to-equity ratio of 0.76, a current ratio of 7.07 and a quick ratio of 7.07. Brigham Minerals has a fifty-two week low of $16.27 and a fifty-two week high of $23.29.
Brigham Minerals (NYSE:MNRL) last released its earnings results on Thursday, November 7th. The company reported $0.14 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The business had revenue of $25.11 million for the quarter, compared to analyst estimates of $25.50 million.
Several institutional investors and hedge funds have recently modified their holdings of MNRL. FMR LLC lifted its holdings in shares of Brigham Minerals by 48.8% in the 4th quarter. FMR LLC now owns 3,260,414 shares of the company’s stock worth $69,904,000 after purchasing an additional 1,068,737 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Brigham Minerals in the 4th quarter worth $22,646,000. Nuveen Asset Management LLC bought a new position in shares of Brigham Minerals in the 2nd quarter worth $19,202,000. BlackRock Inc. bought a new position in shares of Brigham Minerals in the 2nd quarter worth $16,834,000. Finally, Vanguard Group Inc. bought a new position in shares of Brigham Minerals in the 2nd quarter worth $12,755,000. Institutional investors own 43.89% of the company’s stock.
In related news, Director James R. Levy sold 2,955,810 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $17.38, for a total value of $51,371,977.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Yorktown X. Associates Llc sold 802,324 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $17.38, for a total value of $13,944,391.12. The disclosure for this sale can be found here.
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.