Shares of Brigham Minerals Inc (NYSE:MNRL) have been given a consensus rating of “Buy” by the twelve brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $25.40.
Several equities analysts have recently commented on MNRL shares. Capital One Financial started coverage on Brigham Minerals in a research note on Friday, October 18th. They issued an “overweight” rating and a $23.00 price target on the stock. Wells Fargo & Co cut their price objective on 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 upgraded shares of Brigham Minerals from a “sell” rating to a “hold” rating in a report on Saturday, November 9th.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada purchased a new stake in Brigham Minerals during the 2nd quarter worth about $27,000. US Bancorp DE acquired a new stake in Brigham Minerals in the second quarter valued at approximately $37,000. JPMorgan Chase & Co. purchased a new position in Brigham Minerals in the second quarter worth approximately $93,000. Bank of Montreal Can purchased a new position in Brigham Minerals in the second quarter worth approximately $97,000. Finally, Metropolitan Life Insurance Co NY purchased a new position in Brigham Minerals in the third quarter worth approximately $141,000. 43.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Brigham Minerals stock traded down $0.08 during mid-day trading on Friday, hitting $19.38. The stock had a trading volume of 4,193 shares, compared to its average volume of 228,155. The firm has a 50-day moving average of $19.59 and a two-hundred day moving average of $20.33. The company has a debt-to-equity ratio of 0.76, a quick ratio of 7.07 and a current ratio of 7.07. Brigham Minerals has a 12-month low of $18.10 and a 12-month high of $23.29.
Brigham Minerals (NYSE:MNRL) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by ($0.05). The firm had revenue of $25.11 million for the quarter, compared to analysts’ expectations of $25.50 million. On average, analysts expect that Brigham Minerals will post 0.6 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Wednesday, November 20th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 6.81%. The ex-dividend date was Tuesday, November 19th.
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.
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