Brigham Minerals (NYSE:MNRL) Trading Down 4%

Shares of Brigham Minerals, Inc. (NYSE:MNRL) fell 4% during mid-day trading on Thursday . The company traded as low as $14.81 and last traded at $14.95. 2,010 shares were traded during trading, a decline of 100% from the average session volume of 543,415 shares. The stock had previously closed at $15.57.

MNRL has been the topic of several research reports. Credit Suisse Group raised their price objective on Brigham Minerals from $16.00 to $18.00 and gave the stock an “outperform” rating in a report on Wednesday, March 3rd. Zacks Investment Research downgraded Brigham Minerals from a “buy” rating to a “hold” rating in a report on Thursday, February 25th. Finally, Royal Bank of Canada restated a “buy” rating and set a $18.00 price objective on shares of Brigham Minerals in a report on Sunday, February 14th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $15.30.

The stock has a fifty day moving average price of $15.33 and a 200-day moving average price of $12.23. The firm has a market capitalization of $848.05 million, a PE ratio of -778.50 and a beta of 2.45. The company has a debt-to-equity ratio of 0.01, a quick ratio of 4.13 and a current ratio of 4.13.

Brigham Minerals (NYSE:MNRL) last announced its quarterly earnings results on Thursday, February 25th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.93). Brigham Minerals had a negative net margin of 3.67% and a positive return on equity of 1.70%. The company had revenue of $23.76 million during the quarter, compared to analysts’ expectations of $25.15 million. Research analysts expect that Brigham Minerals, Inc. will post 0.14 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 26th. Stockholders of record on Friday, March 19th were issued a $0.26 dividend. The ex-dividend date was Thursday, March 18th. This is an increase from Brigham Minerals’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a dividend yield of 6.96%. Brigham Minerals’s dividend payout ratio (DPR) is currently 182.46%.

In related news, Director W Howard Keenan, Jr. sold 30,941 shares of the business’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $16.41, for a total transaction of $507,741.81. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director W Howard Keenan, Jr. sold 53,700 shares of the business’s stock in a transaction on Wednesday, March 17th. The stock was sold at an average price of $15.46, for a total value of $830,202.00. The disclosure for this sale can be found here. Insiders sold a total of 100,470 shares of company stock worth $1,573,277 over the last quarter. Company insiders own 3.35% of the company’s stock.

A number of hedge funds have recently made changes to their positions in MNRL. QV Investors Inc. purchased a new position in Brigham Minerals during the 4th quarter worth $53,000. Walleye Trading LLC acquired a new stake in Brigham Minerals during the 4th quarter worth about $111,000. Walleye Capital LLC acquired a new stake in Brigham Minerals during the 4th quarter worth about $112,000. Arizona State Retirement System lifted its position in Brigham Minerals by 11.2% during the 4th quarter. Arizona State Retirement System now owns 12,458 shares of the company’s stock worth $137,000 after acquiring an additional 1,254 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in Brigham Minerals during the 4th quarter worth about $137,000. Hedge funds and other institutional investors own 70.57% of the company’s stock.

About Brigham Minerals (NYSE:MNRL)

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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