Brigham Minerals Inc (NYSE:MNRL) Director Buys $16,720.00 in Stock

Brigham Minerals Inc (NYSE:MNRL) Director Harold D. Carter acquired 2,375 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were purchased at an average cost of $7.04 per share, for a total transaction of $16,720.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Harold D. Carter also recently made the following trade(s):

  • On Wednesday, March 18th, Harold D. Carter purchased 2,000 shares of Brigham Minerals stock. The stock was bought at an average cost of $6.46 per share, for a total transaction of $12,920.00.
  • On Monday, March 9th, Harold D. Carter acquired 4,000 shares of Brigham Minerals stock. The stock was acquired at an average price of $12.03 per share, for a total transaction of $48,120.00.

NYSE MNRL opened at $8.21 on Thursday. The stock has a 50-day simple moving average of $13.98 and a two-hundred day simple moving average of $18.21. The firm has a market capitalization of $456.23 million and a P/E ratio of 14.40. Brigham Minerals Inc has a fifty-two week low of $5.86 and a fifty-two week high of $23.29.

Brigham Minerals (NYSE:MNRL) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). The company had revenue of $33.61 million during the quarter, compared to analysts’ expectations of $28.67 million. Sell-side analysts expect that Brigham Minerals Inc will post 0.62 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 19th. Stockholders of record on Thursday, March 12th were issued a dividend of $0.38 per share. This is a boost from Brigham Minerals’s previous quarterly dividend of $0.33. This represents a $1.52 annualized dividend and a dividend yield of 18.51%. The ex-dividend date was Wednesday, March 11th. Brigham Minerals’s payout ratio is currently 266.67%.

Several institutional investors have recently modified their holdings of the company. Warburg Pincus LLC raised its position in Brigham Minerals by 97.3% in the fourth quarter. Warburg Pincus LLC now owns 9,884,822 shares of the company’s stock valued at $211,931,000 after purchasing an additional 4,874,812 shares during the period. FMR LLC boosted its stake in Brigham Minerals by 48.8% in the fourth quarter. FMR LLC now owns 3,260,414 shares of the company’s stock valued at $69,904,000 after acquiring an additional 1,068,737 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Brigham Minerals by 117.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,647,234 shares of the company’s stock valued at $35,317,000 after acquiring an additional 890,563 shares in the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Brigham Minerals by 16.3% during the fourth quarter. Nuveen Asset Management LLC now owns 1,237,093 shares of the company’s stock worth $26,523,000 after buying an additional 173,475 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of Brigham Minerals by 69.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 1,103,561 shares of the company’s stock worth $23,660,000 after buying an additional 452,574 shares during the period. Institutional investors and hedge funds own 67.53% of the company’s stock.

Several research firms recently weighed in on MNRL. Credit Suisse Group restated an “outperform” rating on shares of Brigham Minerals in a research report on Thursday, March 19th. Royal Bank of Canada reissued a “buy” rating and issued a $25.00 target price on shares of Brigham Minerals in a report on Monday, January 20th. Raymond James cut Brigham Minerals from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $21.00 to $13.00 in a research note on Tuesday, March 17th. Piper Sandler cut Brigham Minerals from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $21.00 to $17.00 in a research note on Monday, March 9th. Finally, KeyCorp assumed coverage on Brigham Minerals in a research report on Wednesday, January 22nd. They set an “overweight” rating and a $22.00 price objective for the company. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Brigham Minerals currently has a consensus rating of “Buy” and a consensus target price of $22.93.

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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