Brigham Minerals (NYSE:MNRL) posted its quarterly earnings results on Thursday. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05), Fidelity Earnings reports. The business had revenue of $25.11 million for the quarter, compared to the consensus estimate of $25.50 million.
Shares of MNRL stock traded up $1.30 during mid-day trading on Friday, hitting $19.70. 665,559 shares of the stock were exchanged, compared to its average volume of 214,971. The stock’s fifty day moving average price is $19.87. Brigham Minerals has a 52-week low of $18.10 and a 52-week high of $23.29.
MNRL has been the topic of several recent analyst reports. Wells Fargo & Co lowered their target price on shares of Brigham Minerals from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. Zacks Investment Research raised shares of Brigham Minerals from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Capital One Financial initiated coverage on shares of Brigham Minerals in a research note on Friday, October 18th. They set an “overweight” rating and a $23.00 target price on the stock. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $25.08.
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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