Brigham Minerals, Inc. (NYSE:MNRL) has been given a consensus recommendation of “Buy” by the nine ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $23.29.
A number of brokerages recently weighed in on MNRL. KeyCorp lifted their price objective on shares of Brigham Minerals from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Tuesday, November 16th. Piper Sandler lifted their target price on Brigham Minerals from $20.00 to $24.00 and gave the stock an “overweight” rating in a report on Wednesday, October 13th. Zacks Investment Research lowered Brigham Minerals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 22nd. Raymond James lifted their price target on Brigham Minerals from $30.00 to $35.00 and gave the stock a “strong-buy” rating in a research note on Thursday, December 2nd. Finally, Barclays lifted their price target on Brigham Minerals from $22.00 to $24.00 and gave the stock an “overweight” rating in a research note on Monday, December 27th.
In other news, Director W Howard Keenan, Jr. sold 7,871 shares of the business’s stock in a transaction that occurred on Thursday, November 18th. The stock was sold at an average price of $23.07, for a total transaction of $181,583.97. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director W Howard Keenan, Jr. sold 45,419 shares of the business’s stock in a transaction that occurred on Wednesday, November 24th. The shares were sold at an average price of $22.30, for a total value of $1,012,843.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 92,224 shares of company stock valued at $2,083,964. Corporate insiders own 3.70% of the company’s stock.
MNRL stock opened at $22.53 on Wednesday. The company has a current ratio of 5.34, a quick ratio of 5.34 and a debt-to-equity ratio of 0.08. Brigham Minerals has a 1 year low of $12.80 and a 1 year high of $25.49. The stock’s fifty day moving average is $21.84 and its two-hundred day moving average is $20.63.
Brigham Minerals (NYSE:MNRL) last issued its quarterly earnings data on Wednesday, November 3rd. The company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.28 by $0.03. Brigham Minerals had a net margin of 0.29% and a return on equity of 5.94%. The business had revenue of $41.96 million for the quarter, compared to analysts’ expectations of $40.50 million. During the same period in the previous year, the business earned $0.06 earnings per share. Equities analysts anticipate that Brigham Minerals will post 1.37 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 1st. Investors of record on Wednesday, November 24th were issued a $0.40 dividend. This is a positive change from Brigham Minerals’s previous quarterly dividend of $0.35. This represents a $1.60 annualized dividend and a yield of 7.10%. The ex-dividend date was Tuesday, November 23rd. Brigham Minerals’s payout ratio is -1,454.41%.
Brigham Minerals Company Profile
Brigham Minerals, Inc engages in the acquisition and managing a a portfolio of mineral and royalty interests. Its portfolio include basins in the United States, which comprises Permian Basin in Texas and New Mexico; the SCOOP and STACK plays in the Anadarko Basin of Oklahoma; the DJ Basin in Colorado; and Wyoming and the Williston Basin in North Dakota.
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