Credit Suisse Group upgraded shares of Brigham Minerals (NYSE:MNRL) from a neutral rating to an outperform rating in a research note issued to investors on Monday, Briefing.com reports. Credit Suisse Group currently has $13.00 price objective on the stock, down from their prior price objective of $14.00.
Several other research firms have also weighed in on MNRL. Zacks Investment Research upgraded shares of Brigham Minerals from a sell rating to a hold rating in a research note on Wednesday, July 15th. Capital One Financial upgraded shares of Brigham Minerals from an equal weight rating to an overweight rating in a research note on Thursday, July 23rd. Raymond James reiterated a buy rating on shares of Brigham Minerals in a research note on Friday, August 14th. Royal Bank of Canada reiterated a buy rating and issued a $18.00 price objective on shares of Brigham Minerals in a research note on Sunday, July 26th. Finally, Wells Fargo & Company reiterated an overweight rating and issued a $13.00 price objective on shares of Brigham Minerals in a research note on Monday, June 15th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Brigham Minerals has an average rating of Buy and a consensus target price of $14.00.
Shares of NYSE MNRL opened at $9.37 on Monday. The company has a market capitalization of $533.25 million, a P/E ratio of 26.03 and a beta of 2.45. Brigham Minerals has a 52-week low of $5.86 and a 52-week high of $23.12. The company’s 50 day moving average price is $11.13 and its 200-day moving average price is $11.71.
Brigham Minerals (NYSE:MNRL) last issued its quarterly earnings results on Wednesday, August 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.07). The firm had revenue of $12.61 million during the quarter, compared to analyst estimates of $12.88 million. Brigham Minerals had a return on equity of 2.51% and a net margin of 8.57%. On average, sell-side analysts expect that Brigham Minerals will post 0.17 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 3rd. Shareholders of record on Thursday, August 27th were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 5.98%. The ex-dividend date of this dividend was Wednesday, August 26th. Brigham Minerals’s dividend payout ratio is 98.25%.
In other news, Chairman Ben M. Brigham acquired 22,000 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were purchased at an average cost of $8.90 per share, with a total value of $195,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.35% of the stock is owned by insiders.
Several large investors have recently modified their holdings of the stock. BlackRock Inc. grew its position in Brigham Minerals by 53.5% during the first quarter. BlackRock Inc. now owns 2,260,116 shares of the company’s stock valued at $18,692,000 after acquiring an additional 787,612 shares during the last quarter. SG Americas Securities LLC bought a new position in Brigham Minerals in the first quarter worth $87,000. American International Group Inc. raised its holdings in Brigham Minerals by 65.8% in the first quarter. American International Group Inc. now owns 16,702 shares of the company’s stock worth $138,000 after purchasing an additional 6,627 shares in the last quarter. Aperio Group LLC raised its holdings in Brigham Minerals by 112.0% in the first quarter. Aperio Group LLC now owns 41,369 shares of the company’s stock worth $342,000 after purchasing an additional 21,854 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in Brigham Minerals by 49.6% in the first quarter. Rhumbline Advisers now owns 25,772 shares of the company’s stock worth $213,000 after purchasing an additional 8,550 shares in the last quarter. 70.81% of the stock is currently owned by institutional investors.
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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