Brigham Minerals (NYSE:MNRL) Reaches New 12-Month Low at $17.35

Brigham Minerals Inc (NYSE:MNRL)’s stock price hit a new 52-week low on Friday . The company traded as low as $17.35 and last traded at $17.35, with a volume of 5236 shares traded. The stock had previously closed at $18.29.

MNRL has been the subject of a number of research reports. Wells Fargo & Co cut their target price on shares of Brigham Minerals from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. KeyCorp initiated coverage on shares of Brigham Minerals in a research report on Wednesday. They set an “overweight” rating and a $22.00 target price for the company. Capital One Financial initiated coverage on shares of Brigham Minerals in a research report on Friday, October 18th. They set an “overweight” rating and a $23.00 target price for the company. Royal Bank of Canada reiterated a “buy” rating and set a $25.00 target price on shares of Brigham Minerals in a research report on Monday. Finally, Tudor Pickering initiated coverage on shares of Brigham Minerals in a research report on Wednesday. They set a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $24.85.

The company has a current ratio of 7.07, a quick ratio of 7.07 and a debt-to-equity ratio of 0.76. The business’s 50-day simple moving average is $19.55 and its two-hundred day simple moving average is $19.95.

Brigham Minerals (NYSE:MNRL) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The firm had revenue of $25.11 million for the quarter, compared to analysts’ expectations of $25.50 million. On average, sell-side analysts expect that Brigham Minerals Inc will post 0.58 EPS for the current fiscal year.

In related news, Director James R. Levy sold 2,955,810 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $17.38, for a total value of $51,371,977.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Yorktown X. Associates Llc sold 802,324 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $17.38, for a total transaction of $13,944,391.12. The disclosure for this sale can be found here.

A number of institutional investors and hedge funds have recently made changes to their positions in MNRL. Royal Bank of Canada purchased a new position in shares of Brigham Minerals during the second quarter worth approximately $27,000. US Bancorp DE purchased a new position in shares of Brigham Minerals during the second quarter worth approximately $37,000. JPMorgan Chase & Co. purchased a new position in shares of Brigham Minerals during the second quarter worth approximately $93,000. Bank of Montreal Can purchased a new position in shares of Brigham Minerals during the second quarter worth approximately $97,000. Finally, Wells Fargo & Company MN purchased a new position in shares of Brigham Minerals during the second quarter worth approximately $152,000. 43.22% of the stock is currently owned by institutional investors and hedge funds.

Brigham Minerals Company Profile (NYSE:MNRL)

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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