Brigham Minerals, Inc. (NYSE:MNRL) Director Pbra, Llc Sells 59,390 Shares of Stock

Brigham Minerals, Inc. (NYSE:MNRLGet Rating) Director Pbra, Llc sold 59,390 shares of the company’s stock in a transaction dated Tuesday, June 21st. The shares were sold at an average price of $28.15, for a total transaction of $1,671,828.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Pbra, Llc also recently made the following trade(s):

  • On Wednesday, June 15th, Pbra, Llc sold 55,247 shares of Brigham Minerals stock. The shares were sold at an average price of $30.57, for a total transaction of $1,688,900.79.
  • On Monday, June 13th, Pbra, Llc sold 173,733 shares of Brigham Minerals stock. The shares were sold at an average price of $30.87, for a total transaction of $5,363,137.71.
  • On Friday, June 10th, Pbra, Llc sold 100,253 shares of Brigham Minerals stock. The shares were sold at an average price of $32.32, for a total transaction of $3,240,176.96.
  • On Thursday, May 26th, Pbra, Llc sold 389,626 shares of Brigham Minerals stock. The shares were sold at an average price of $29.37, for a total transaction of $11,443,315.62.

Shares of MNRL traded down $1.10 during trading hours on Thursday, reaching $24.10. The company’s stock had a trading volume of 1,146,444 shares, compared to its average volume of 545,506. The firm has a market cap of $1.46 billion, a price-to-earnings ratio of 16.47 and a beta of 1.94. Brigham Minerals, Inc. has a 1-year low of $16.51 and a 1-year high of $33.64. The company has a quick ratio of 3.55, a current ratio of 3.55 and a debt-to-equity ratio of 0.13. The company has a 50 day moving average of $28.03 and a two-hundred day moving average of $24.83.

Brigham Minerals (NYSE:MNRLGet Rating) last issued its earnings results on Wednesday, May 4th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.16. Brigham Minerals had a return on equity of 10.56% and a net margin of 36.54%. The company had revenue of $71.43 million for the quarter, compared to the consensus estimate of $55.22 million. As a group, analysts forecast that Brigham Minerals, Inc. will post 2.89 EPS for the current fiscal year.

The company also recently disclosed a None dividend, which was paid on Friday, May 27th. Investors of record on Friday, May 20th were issued a $0.60 dividend. The ex-dividend date was Thursday, May 19th. This represents a yield of 2.2%. This is an increase from Brigham Minerals’s previous None dividend of $0.14. Brigham Minerals’s dividend payout ratio is currently 41.83%.

A number of analysts have commented on the stock. Barclays upped their price objective on shares of Brigham Minerals from $29.00 to $38.00 and gave the company an “overweight” rating in a research note on Tuesday, June 14th. Raymond James upped their price objective on shares of Brigham Minerals from $41.00 to $44.00 in a research note on Tuesday, May 24th. Piper Sandler upped their price objective on shares of Brigham Minerals to $32.00 and gave the company a “na” rating in a research note on Wednesday, May 18th. Wells Fargo & Company upped their target price on Brigham Minerals from $29.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, May 23rd. Finally, TheStreet upgraded Brigham Minerals from a “c+” rating to a “b” rating in a report on Monday, April 18th. One research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $34.40.

A number of large investors have recently added to or reduced their stakes in MNRL. HighTower Advisors LLC increased its holdings in Brigham Minerals by 34.5% in the third quarter. HighTower Advisors LLC now owns 27,716 shares of the company’s stock worth $532,000 after buying an additional 7,113 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Brigham Minerals by 875.6% in the third quarter. Dimensional Fund Advisors LP now owns 214,132 shares of the company’s stock worth $4,103,000 after buying an additional 192,184 shares during the last quarter. Invesco Ltd. boosted its position in Brigham Minerals by 4.9% during the third quarter. Invesco Ltd. now owns 97,391 shares of the company’s stock worth $1,866,000 after purchasing an additional 4,553 shares during the period. Cubist Systematic Strategies LLC boosted its position in Brigham Minerals by 254.4% during the third quarter. Cubist Systematic Strategies LLC now owns 49,769 shares of the company’s stock worth $954,000 after purchasing an additional 35,725 shares during the period. Finally, Wellington Management Group LLP boosted its position in Brigham Minerals by 10.8% during the third quarter. Wellington Management Group LLP now owns 1,909,318 shares of the company’s stock worth $36,583,000 after purchasing an additional 186,202 shares during the period. Hedge funds and other institutional investors own 68.81% of the company’s stock.

About Brigham Minerals (Get Rating)

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 Delaware and Midland Basins 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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