Falcon Minerals (FLMN) Sets New 1-Year Low at $9.13

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Falcon Minerals Corp (NASDAQ:FLMN)’s share price hit a new 52-week low on Thursday . The stock traded as low as $9.13 and last traded at $9.22, with a volume of 1620 shares changing hands. The stock had previously closed at $9.60.

Several equities analysts have weighed in on FLMN shares. Northland Securities started coverage on Falcon Minerals in a report on Wednesday, September 26th. They issued an “outperform” rating and a $13.00 price objective for the company. ValuEngine cut Falcon Minerals from a “hold” rating to a “sell” rating in a report on Friday, November 2nd.

Falcon Minerals (NASDAQ:FLMN) last announced its quarterly earnings data on Friday, November 9th. The company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.14). The business had revenue of $24.28 million during the quarter, compared to analysts’ expectations of $29.70 million. Research analysts expect that Falcon Minerals Corp will post 0.63 earnings per share for the current fiscal year.

The firm also recently declared a special dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 8th will be issued a dividend of $0.095 per share. The ex-dividend date is Wednesday, November 7th.

In other news, major shareholder Jana Partners Llc sold 944,703 shares of the business’s stock in a transaction on Monday, September 24th. The stock was sold at an average price of $11.40, for a total transaction of $10,769,614.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven R. Jones purchased 30,000 shares of the stock in a transaction dated Thursday, August 23rd. The shares were acquired at an average cost of $10.00 per share, with a total value of $300,000.00. The disclosure for this purchase can be found here. Insiders have bought a total of 805,000 shares of company stock valued at $8,050,000 in the last three months.

Institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN acquired a new position in shares of Falcon Minerals during the 3rd quarter worth $227,000. Engineers Gate Manager LP acquired a new position in shares of Falcon Minerals during the 3rd quarter worth $572,000. Gabelli Funds LLC acquired a new position in shares of Falcon Minerals during the 3rd quarter worth $1,818,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Falcon Minerals during the 3rd quarter worth $2,485,000. 50.93% of the stock is owned by institutional investors.

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About Falcon Minerals (NASDAQ:FLMN)

Falcon Minerals Corporation acquires, owns, maintains, and manages mineral interests, mineral royalties, and overriding royalties relating to onshore unconventional shale oil and natural gas properties in the United States; and any associated interests and royalties relating to conventional oil and natural gas properties.

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