According to Zacks, “Brigham Minerals Inc. is a mineral acquisition company. It is focused on acquiring oil and gas mineral rights in unconventional, shale plays throughout the United States – including the Delaware and Midland Basins in Texas, the SCOOP and STACK plays in Oklahoma, the DJ Basin in Colorado and Wyoming, as well as the Bakken and Three Forks plays in North Dakota. Brigham Minerals Inc. is based in Austin, Texas. “
Other equities analysts have also recently issued reports about the company. Wells Fargo & Co decreased their target price on Brigham Minerals from $24.00 to $22.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Capital One Financial started coverage on Brigham Minerals in a report on Friday, October 18th. They set an “overweight” rating and a $23.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Brigham Minerals presently has an average rating of “Buy” and a consensus price target of $25.08.
Shares of NYSE MNRL remained flat at $$19.70 during mid-day trading on Friday. The company had a trading volume of 207,427 shares, compared to its average volume of 214,928. The business has a fifty day moving average price of $19.80 and a 200-day moving average price of $20.40. Brigham Minerals has a twelve month low of $18.10 and a twelve month high of $23.29.
Brigham Minerals (NYSE:MNRL) last issued its earnings results on Thursday, November 7th. The company reported $0.14 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.05). The company had revenue of $25.11 million during the quarter, compared to analyst estimates of $25.50 million. As a group, sell-side analysts expect that Brigham Minerals will post 0.54 EPS for the current year.
Several hedge funds have recently modified their holdings of MNRL. Royal Bank of Canada purchased a new position in shares of Brigham Minerals during the second quarter valued at $27,000. US Bancorp DE purchased a new position in shares of Brigham Minerals during the second quarter valued at $37,000. JPMorgan Chase & Co. purchased a new position in shares of Brigham Minerals during the second quarter valued at $93,000. Bank of Montreal Can purchased a new position in shares of Brigham Minerals during the second quarter valued at $97,000. Finally, Wells Fargo & Company MN purchased a new position in shares of Brigham Minerals during the second quarter valued at $152,000. Institutional investors and hedge funds own 58.04% 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.
Featured Story: How does a reverse stock split work?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.