Several other equities analysts also recently commented on the company. Credit Suisse Group initiated coverage on Falcon Minerals in a research report on Friday, December 7th. They issued an outperform rating and a $11.00 price objective on the stock. Citigroup started coverage on Falcon Minerals in a research report on Thursday, November 29th. They issued a buy rating and a $11.00 price objective on the stock. ValuEngine downgraded Falcon Minerals from a hold rating to a sell rating in a research report on Friday, November 2nd. Finally, Zacks Investment Research downgraded Falcon Minerals from a hold rating to a sell rating in a research report on Thursday, January 31st. Two analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $10.19.
Shares of Falcon Minerals stock opened at $7.34 on Friday. Falcon Minerals has a 52 week low of $6.71 and a 52 week high of $11.70. The company has a current ratio of 34.70, a quick ratio of 34.70 and a debt-to-equity ratio of 0.14.
Falcon Minerals (NASDAQ:FLMN) last announced its quarterly earnings data on Friday, November 9th. The company reported $0.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.14). The firm had revenue of $24.28 million during the quarter, compared to analyst estimates of $29.70 million. As a group, research analysts anticipate that Falcon Minerals will post 0.55 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 28th. Shareholders of record on Thursday, February 21st will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, February 20th. This represents a $0.80 dividend on an annualized basis and a yield of 10.90%.
In related news, major shareholder Hite Hedge Asset Management Ll acquired 54,130 shares of the firm’s stock in a transaction on Wednesday, February 6th. The shares were acquired at an average cost of $8.23 per share, for a total transaction of $445,489.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian L. Frank acquired 15,000 shares of the firm’s stock in a transaction on Wednesday, December 12th. The shares were bought at an average price of $7.72 per share, for a total transaction of $115,800.00. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 1,147,870 shares of company stock worth $8,451,208. Company insiders own 8.60% of the company’s stock.
A number of large investors have recently made changes to their positions in the stock. Deprince Race & Zollo Inc. grew its stake in Falcon Minerals by 36.7% in the fourth quarter. Deprince Race & Zollo Inc. now owns 20,500 shares of the company’s stock worth $174,000 after purchasing an additional 5,500 shares in the last quarter. Hodges Capital Management Inc. bought a new position in Falcon Minerals in the fourth quarter worth approximately $140,000. Tower Research Capital LLC TRC bought a new position in Falcon Minerals in the third quarter worth approximately $224,000. Wells Fargo & Company MN bought a new position in Falcon Minerals in the third quarter worth approximately $227,000. Finally, Bluefin Trading LLC bought a new position in Falcon Minerals in the third quarter worth approximately $232,000. 70.50% of the stock is currently owned by institutional investors.
Falcon Minerals Company Profile
Falcon Minerals Corporation acquires, owns, maintains, and manages mineral interests, mineral royalties, and overriding royalties relating to onshore unconventional shale oil and natural gas properties in the United States; and any associated interests and royalties relating to conventional oil and natural gas properties.
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