Equities research analysts at Tudor Pickering initiated coverage on shares of Brigham Minerals (NYSE:MNRL) in a note issued to investors on Wednesday, The Fly reports. The brokerage set a “buy” rating on the stock.
Several other research firms have also issued reports on MNRL. Royal Bank of Canada reissued a “buy” rating and issued a $25.00 price target on shares of Brigham Minerals in a research report on Monday. Zacks Investment Research cut shares of Brigham Minerals from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 9th. KeyCorp initiated coverage on shares of Brigham Minerals in a report on Wednesday. They issued an “overweight” rating and a $22.00 price objective for the company. Wells Fargo & Co reduced their price objective on shares of Brigham Minerals from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Finally, Capital One Financial assumed coverage on shares of Brigham Minerals in a report on Friday, October 18th. They set an “overweight” rating and a $23.00 target price on the stock. One research analyst has rated the stock with a sell rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $24.85.
MNRL stock opened at $19.35 on Wednesday. The stock has a fifty day moving average of $19.58 and a 200-day moving average of $19.97. Brigham Minerals has a fifty-two week low of $17.51 and a fifty-two week high of $23.29. The company has a current ratio of 7.07, a quick ratio of 7.07 and a debt-to-equity ratio of 0.76.
In other news, major shareholder Yorktown X. Associates Llc sold 802,324 shares of Brigham Minerals stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $17.38, for a total transaction of $13,944,391.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James R. Levy sold 2,955,810 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $17.38, for a total value of $51,371,977.80. The disclosure for this sale can be found here.
Institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC bought a new position in shares of Brigham Minerals in the 4th quarter worth $217,000. Peregrine Capital Management LLC purchased a new position in Brigham Minerals in the fourth quarter worth $6,217,000. JHL Capital Group LLC increased its stake in Brigham Minerals by 100.0% in the third quarter. JHL Capital Group LLC now owns 300,000 shares of the company’s stock valued at $5,970,000 after acquiring an additional 150,000 shares during the last quarter. Metropolitan Life Insurance Co NY bought a new position in Brigham Minerals in the third quarter valued at $141,000. Finally, Millennium Management LLC increased its stake in Brigham Minerals by 1,819.3% in the third quarter. Millennium Management LLC now owns 345,478 shares of the company’s stock valued at $6,875,000 after acquiring an additional 327,478 shares during the last quarter. Institutional investors and hedge funds own 43.22% of the company’s stock.
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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