Brigham Minerals’ (NYSE:MNRL) lock-up period is set to expire on Tuesday, October 15th. Brigham Minerals had issued 14,500,000 shares in its public offering on April 18th. The total size of the offering was $261,000,000 based on an initial share price of $18.00. After the end of Brigham Minerals’ lock-up period, company insiders and major shareholders will be able to sell their shares of the company.
A number of equities analysts recently weighed in on MNRL shares. Zacks Investment Research upgraded shares of Brigham Minerals from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Wednesday. SunTrust Banks started coverage on shares of Brigham Minerals in a report on Monday, June 17th. They issued a “buy” rating and a $28.00 price objective for the company. Finally, Seaport Global Securities restated a “buy” rating on shares of Brigham Minerals in a report on Friday, June 21st. Ten investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $25.45.
Shares of NYSE MNRL opened at $19.93 on Friday. Brigham Minerals has a twelve month low of $18.36 and a twelve month high of $23.29. The stock has a 50 day moving average price of $20.22.
Brigham Minerals (NYSE:MNRL) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.01. The firm had revenue of $24.53 million during the quarter, compared to analysts’ expectations of $23.73 million. As a group, analysts anticipate that Brigham Minerals will post 0.79 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the business. Marshall Wace North America L.P. purchased a new stake in Brigham Minerals during the 2nd quarter valued at $1,828,000. Balter Liquid Alternatives LLC purchased a new stake in Brigham Minerals during the 2nd quarter valued at $820,000. CIBC Private Wealth Group LLC purchased a new stake in Brigham Minerals during the 2nd quarter valued at $10,600,000. Warburg Pincus LLC purchased a new stake in Brigham Minerals during the 2nd quarter valued at $275,554,000. Finally, Zimmer Partners LP purchased a new stake in Brigham Minerals during the 2nd quarter valued at $6,438,000. Institutional investors and hedge funds own 57.70% of the company’s stock.
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.
Recommended Story: What is the Moving Average Convergence Divergence (MACD) oscillator?
Receive News & Ratings for Brigham Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brigham Minerals and related companies with MarketBeat.com's FREE daily email newsletter.