Analysts Set Brigham Minerals, Inc. (NYSE:MNRL) Target Price at $23.29

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.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in Brigham Minerals by 12.6% in the third quarter. BNP Paribas Arbitrage SA now owns 7,633 shares of the company’s stock worth $146,000 after purchasing an additional 856 shares in the last quarter. Brandywine Global Investment Management LLC acquired a new position in Brigham Minerals in the second quarter worth $224,000. Moors & Cabot Inc. acquired a new position in Brigham Minerals in the third quarter worth $225,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Brigham Minerals in the third quarter worth $250,000. Finally, Andesa Financial Management Inc. acquired a new position in Brigham Minerals in the second quarter worth $256,000. Institutional investors and hedge funds own 67.85% 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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Analyst Recommendations for Brigham Minerals (NYSE:MNRL)

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