Brigham Minerals (NYSE:MNRL) had its price target hoisted by research analysts at UBS Group from $14.00 to $15.00 in a research note issued to investors on Monday, BenzingaRatingsTable reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price objective indicates a potential upside of 25.73% from the company’s current price.
Several other equities analysts also recently commented on MNRL. Piper Sandler cut their target price on Brigham Minerals from $17.00 to $11.00 and set a “neutral” rating for the company in a research report on Monday, April 13th. Zacks Investment Research downgraded Brigham Minerals from a “hold” rating to a “sell” rating in a research report on Wednesday, June 10th. Raymond James downgraded Brigham Minerals from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $21.00 to $13.00 in a research report on Tuesday, March 17th. SunTrust Banks restated a “market perform” rating and set a $16.00 target price on shares of Brigham Minerals in a research report on Monday, June 15th. Finally, KeyCorp dropped their price target on Brigham Minerals from $20.00 to $14.00 and set an “overweight” rating for the company in a report on Monday, March 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $14.78.
Shares of MNRL stock opened at $11.93 on Monday. The stock has a 50 day moving average of $13.17 and a two-hundred day moving average of $14.41. Brigham Minerals has a 12 month low of $5.86 and a 12 month high of $23.29. The company has a market capitalization of $668.90 million, a P/E ratio of 34.09 and a beta of 2.73.
Brigham Minerals (NYSE:MNRL) last announced its quarterly earnings data on Wednesday, May 13th. The company reported $0.14 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.14. Brigham Minerals had a return on equity of 6.98% and a net margin of 9.58%. The company had revenue of $32.28 million during the quarter, compared to the consensus estimate of $29.82 million. On average, equities analysts expect that Brigham Minerals will post 0.16 EPS for the current year.
In other news, Director Warburg Pincus & Co Us, Llc sold 4,427,052 shares of Brigham Minerals stock in a transaction on Friday, June 12th. The stock was sold at an average price of $13.46, for a total value of $59,588,119.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.35% of the stock is currently owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Advisor Group Holdings Inc. bought a new stake in Brigham Minerals during the first quarter worth about $38,000. Great West Life Assurance Co. Can bought a new stake in Brigham Minerals during the fourth quarter worth about $44,000. Meeder Asset Management Inc. raised its holdings in Brigham Minerals by 117.0% during the first quarter. Meeder Asset Management Inc. now owns 6,980 shares of the company’s stock worth $58,000 after acquiring an additional 3,763 shares in the last quarter. US Bancorp DE increased its position in Brigham Minerals by 32.0% during the first quarter. US Bancorp DE now owns 7,155 shares of the company’s stock worth $59,000 after buying an additional 1,735 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Brigham Minerals by 184.8% during the first quarter. BNP Paribas Arbitrage SA now owns 8,335 shares of the company’s stock worth $69,000 after buying an additional 5,408 shares during the last quarter. 68.65% of the stock is owned by institutional investors and hedge funds.
About Brigham Minerals
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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