Brigham Minerals, Inc. (NYSE:MNRL – Get Rating) was the target of a significant growth in short interest in June. As of June 15th, there was short interest totalling 1,400,000 shares, a growth of 18.6% from the May 31st total of 1,180,000 shares. Based on an average trading volume of 639,400 shares, the days-to-cover ratio is currently 2.2 days.
Shares of MNRL stock traded down $1.21 during trading hours on Tuesday, reaching $24.20. The company had a trading volume of 19,703 shares, compared to its average volume of 860,704. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.55 and a current ratio of 3.55. Brigham Minerals has a twelve month low of $16.51 and a twelve month high of $33.64. The company has a market capitalization of $1.46 billion, a P/E ratio of 16.61 and a beta of 1.97. The stock’s fifty day simple moving average is $27.68 and its 200 day simple moving average is $25.08.
Brigham Minerals (NYSE:MNRL – Get Rating) last issued its quarterly earnings results on Wednesday, May 4th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.46 by $0.16. The firm had revenue of $71.43 million during the quarter, compared to the consensus estimate of $55.22 million. Brigham Minerals had a return on equity of 10.56% and a net margin of 36.54%. As a group, equities analysts expect that Brigham Minerals will post 2.89 earnings per share for the current year.
The firm also recently declared a None dividend, which was paid on Friday, May 27th. Investors of record on Friday, May 20th were issued a $0.60 dividend. The ex-dividend date was Thursday, May 19th. This represents a yield of 2.2%. This is an increase from Brigham Minerals’s previous None dividend of $0.14. Brigham Minerals’s dividend payout ratio is currently 41.83%.
Several research firms recently commented on MNRL. Wells Fargo & Company upped their target price on Brigham Minerals from $29.00 to $30.00 and gave the company an “equal weight” rating in a research note on Monday, May 23rd. Barclays upped their target price on Brigham Minerals from $29.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, June 14th. Raymond James upped their target price on Brigham Minerals from $41.00 to $44.00 in a research note on Tuesday, May 24th. KeyCorp upped their price target on Brigham Minerals from $25.00 to $28.00 and gave the stock an “overweight” rating in a research note on Monday, April 11th. Finally, TheStreet upgraded Brigham Minerals from a “c+” rating to a “b” rating in a research note on Monday, April 18th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $34.40.
In other news, Director Pbra, Llc sold 100,253 shares of the company’s stock in a transaction on Friday, June 10th. The stock was sold at an average price of $32.32, for a total value of $3,240,176.96. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Robert M. Roosa sold 6,250 shares of the company’s stock in a transaction on Monday, June 6th. The shares were sold at an average price of $31.94, for a total value of $199,625.00. Following the completion of the sale, the chief executive officer now owns 406,965 shares in the company, valued at $12,998,462.10. The disclosure for this sale can be found here. Insiders sold 826,002 shares of company stock worth $24,653,275 over the last 90 days. Company insiders own 3.92% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the stock. Citigroup Inc. lifted its holdings in Brigham Minerals by 2.1% during the 1st quarter. Citigroup Inc. now owns 23,857 shares of the company’s stock worth $610,000 after buying an additional 487 shares during the last quarter. Advisor Group Holdings Inc. lifted its holdings in Brigham Minerals by 20.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,319 shares of the company’s stock worth $84,000 after buying an additional 557 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in Brigham Minerals by 4.6% during the 4th quarter. Envestnet Asset Management Inc. now owns 17,099 shares of the company’s stock worth $361,000 after buying an additional 759 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in Brigham Minerals by 58.3% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,779 shares of the company’s stock worth $76,000 after buying an additional 1,024 shares during the last quarter. Finally, M&T Bank Corp lifted its holdings in Brigham Minerals by 9.1% during the 1st quarter. M&T Bank Corp now owns 15,941 shares of the company’s stock worth $409,000 after buying an additional 1,327 shares during the last quarter. 68.81% of the stock is owned by hedge funds and other institutional investors.
About Brigham Minerals (Get Rating)
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 Delaware and Midland Basins 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.