Brigham Minerals, Inc. (NYSE:MNRL) has earned an average rating of “Buy” from the thirteen research firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a hold recommendation, eleven have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $14.56.
MNRL has been the topic of several research analyst reports. Raymond James lifted their price objective on Brigham Minerals from $14.00 to $15.00 and gave the company a “strong-buy” rating in a research note on Friday, November 13th. Stifel Nicolaus initiated coverage on Brigham Minerals in a research note on Friday, October 9th. They issued a “buy” rating and a $16.00 price objective on the stock. Zacks Investment Research raised Brigham Minerals from a “sell” rating to a “hold” rating in a research note on Saturday, November 7th. Credit Suisse Group raised Brigham Minerals from a “neutral” rating to an “outperform” rating and reduced their price objective for the company from $14.00 to $13.00 in a research note on Monday, September 14th. Finally, ValuEngine raised Brigham Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, December 1st.
Several institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System raised its position in shares of Brigham Minerals by 30.3% in the 3rd quarter. California State Teachers Retirement System now owns 55,865 shares of the company’s stock valued at $498,000 after purchasing an additional 12,981 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Brigham Minerals in the 3rd quarter valued at approximately $223,000. ExodusPoint Capital Management LP acquired a new position in shares of Brigham Minerals in the 3rd quarter valued at approximately $328,000. Cooperman Leon G acquired a new position in shares of Brigham Minerals in the 3rd quarter valued at approximately $3,456,000. Finally, Meridian Wealth Advisors LLC acquired a new position in shares of Brigham Minerals in the 3rd quarter valued at approximately $137,000. 67.46% of the stock is currently owned by institutional investors.
Brigham Minerals (NYSE:MNRL) last released its quarterly earnings data on Thursday, November 5th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.04. The business had revenue of $23.08 million for the quarter, compared to analyst estimates of $21.12 million. Brigham Minerals had a positive return on equity of 1.70% and a negative net margin of 3.67%. Equities research analysts anticipate that Brigham Minerals will post 0.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, December 7th. Shareholders of record on Monday, November 30th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 8.74%. This is a positive change from Brigham Minerals’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, November 27th. Brigham Minerals’s dividend payout ratio is presently 168.42%.
Brigham Minerals Company Profile
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 South Central Oklahoma Oil Province and Sooner Trend Anadarko Basin Canadian and Kingfisher Counties 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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