Falcon Minerals Corp (NASDAQ:FLMN) Short Interest Up 7.0% in November

Falcon Minerals Corp (NASDAQ:FLMN) was the recipient of a large growth in short interest in November. As of November 15th, there was short interest totalling 1,990,000 shares, a growth of 7.0% from the October 31st total of 1,860,000 shares. Currently, 5.3% of the shares of the stock are short sold. Based on an average daily volume of 231,500 shares, the short-interest ratio is currently 8.6 days.

Several research analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Falcon Minerals from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th. Wells Fargo & Co assumed coverage on shares of Falcon Minerals in a research report on Friday, October 4th. They issued a “market perform” rating for the company. Citigroup set a $8.00 target price on shares of Falcon Minerals and gave the stock a “buy” rating in a research report on Monday, August 12th. ValuEngine raised shares of Falcon Minerals from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Royal Bank of Canada lowered their price target on shares of Falcon Minerals from $10.00 to $8.00 and set a “market perform” rating for the company in a research note on Monday, November 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $9.69.

In other news, major shareholder Hite Hedge Asset Management Ll sold 117,627 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $6.36, for a total transaction of $748,107.72. Insiders have sold a total of 322,669 shares of company stock valued at $2,176,423 over the last 90 days. Company insiders own 15.80% of the company’s stock.

Large investors have recently modified their holdings of the company. Bank of Montreal Can bought a new position in shares of Falcon Minerals during the second quarter valued at about $27,000. Tower Research Capital LLC TRC bought a new position in shares of Falcon Minerals during the second quarter valued at about $35,000. Metropolitan Life Insurance Co NY bought a new position in shares of Falcon Minerals during the third quarter valued at about $53,000. Deroy & Devereaux Private Investment Counsel Inc. bought a new position in shares of Falcon Minerals during the third quarter valued at about $84,000. Finally, Strs Ohio bought a new position in Falcon Minerals in the second quarter worth about $86,000. 38.99% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:FLMN traded down $0.03 during midday trading on Friday, hitting $6.45. 71,674 shares of the stock traded hands, compared to its average volume of 386,199. The stock has a market capitalization of $554.38 million, a PE ratio of 32.25 and a beta of 0.49. The business’s 50 day moving average is $6.37 and its two-hundred day moving average is $6.92. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.15. Falcon Minerals has a one year low of $5.31 and a one year high of $9.53.

Falcon Minerals (NASDAQ:FLMN) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). The firm had revenue of $15.91 million for the quarter, compared to the consensus estimate of $16.30 million. Falcon Minerals had a net margin of 22.83% and a return on equity of 7.16%. As a group, sell-side analysts forecast that Falcon Minerals will post 0.34 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Wednesday, November 20th will be paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 8.37%. The ex-dividend date of this dividend is Tuesday, November 19th. Falcon Minerals’s dividend payout ratio (DPR) is 270.00%.

Falcon Minerals Company Profile

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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