Falcon Minerals (NASDAQ:FLMN) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research downgraded shares of Falcon Minerals (NASDAQ:FLMN) from a hold rating to a sell rating in a research note issued to investors on Tuesday morning, Zacks.com reports.

According to Zacks, “Falcon Minerals Corporation own and acquire oil-weighted minerals. The company owns mineral, royalty and over-riding royalty interests primarily in the Eagle Ford and Austin Chalk in Karnes County, DeWitt County and Gonzales County Texas. Falcon Minerals Corporation, formerly named Osprey Energy Acquisition Corp., is based in San Diego, California. “

Other research analysts also recently issued reports about the stock. Northland Securities reaffirmed a buy rating and issued a $12.00 target price on shares of Medallion Financial in a research report on Tuesday, May 7th. Stephens began coverage on shares of Falcon Minerals in a research report on Thursday, April 11th. They issued an overweight rating and a $12.00 target price on the stock. Citigroup set a $21.00 target price on shares of Tanger Factory Outlet Centers and gave the company a hold rating in a research report on Tuesday, April 2nd. Capital One Financial assumed coverage on shares of Falcon Minerals in a research report on Friday, May 31st. They issued an overweight rating and a $10.00 target price on the stock. Finally, Royal Bank of Canada reissued a neutral rating and set a $145.00 price objective on shares of Travelers Companies in a research report on Thursday, April 18th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $10.09.



NASDAQ FLMN opened at $7.94 on Tuesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 11.11 and a quick ratio of 11.12. The firm has a fifty day moving average of $7.77. The stock has a market cap of $698.03 million, a P/E ratio of 39.70 and a beta of 0.34. Falcon Minerals has a 12 month low of $6.71 and a 12 month high of $11.70.

Falcon Minerals (NASDAQ:FLMN) last posted its earnings results on Monday, May 6th. The company reported $0.12 EPS for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.01. The company had revenue of $21.26 million during the quarter, compared to analysts’ expectations of $20.49 million. As a group, equities analysts expect that Falcon Minerals will post 0.48 earnings per share for the current year.

In other Falcon Minerals news, Director Al J. Hirshberg acquired 30,000 shares of the stock in a transaction on Tuesday, May 14th. The shares were bought at an average cost of $8.00 per share, with a total value of $240,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 15.80% of the company’s stock.

A number of institutional investors have recently modified their holdings of the business. Arlington Partners LLC purchased a new position in Falcon Minerals during the 2nd quarter worth $71,000. HITE Hedge Asset Management LLC lifted its stake in shares of Falcon Minerals by 1.8% in the 1st quarter. HITE Hedge Asset Management LLC now owns 6,543,064 shares of the company’s stock worth $57,841,000 after acquiring an additional 113,585 shares during the period. Freestone Capital Holdings LLC acquired a new stake in shares of Falcon Minerals in the 1st quarter worth $442,000. Iridian Asset Management LLC CT acquired a new stake in shares of Falcon Minerals in the 1st quarter worth $877,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Falcon Minerals in the 1st quarter worth $1,034,000. 65.43% of the stock is currently owned by institutional investors.

About Falcon Minerals

Falcon Minerals Corporation acquires and owns mineral, royalty, and over-riding royalty interests in oil and natural gas properties in North America. It owns interests covering approximately 256,000 gross unit acres in the Eagle Ford Shale and Austin Chalk in Karnes, DeWitt, and Gonzales Counties in Texas, as well as approximately 68,000 gross unit acres in Pennsylvania, Ohio, and West Virginia that is prospective for the Marcellus Shale.

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