Investment analysts at Credit Suisse Group initiated coverage on shares of Falcon Minerals (NASDAQ:FLMN) in a research report issued on Friday, The Fly reports. The brokerage set an “outperform” rating and a $11.00 price target on the stock. Credit Suisse Group’s price objective points to a potential upside of 42.25% from the company’s previous close.
A number of other equities analysts have also commented on the company. Citigroup began coverage on Falcon Minerals in a research note on Thursday, November 29th. They issued a “buy” rating and a $11.00 price objective on the stock. Zacks Investment Research raised Falcon Minerals from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a research note on Tuesday, November 27th. ValuEngine lowered Falcon Minerals from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. Finally, Northland Securities began coverage on Falcon Minerals in a research note on Wednesday, September 26th. They issued an “outperform” rating and a $13.00 price objective on the stock. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $10.94.
Shares of Falcon Minerals stock traded up $0.35 during midday trading on Friday, reaching $7.73. The company had a trading volume of 10,873 shares, compared to its average volume of 153,813. The company has a quick ratio of 34.70, a current ratio of 34.70 and a debt-to-equity ratio of 0.14. Falcon Minerals has a fifty-two week low of $7.12 and a fifty-two week high of $11.70.
Falcon Minerals (NASDAQ:FLMN) last posted its quarterly earnings data on Friday, November 9th. The company reported $0.03 EPS for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.14). The company had revenue of $24.28 million during the quarter, compared to the consensus estimate of $29.70 million. On average, equities research analysts forecast that Falcon Minerals will post 0.6 EPS for the current fiscal year.
In other Falcon Minerals news, major shareholder Jana Partners Llc sold 803,393 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $11.34, for a total value of $9,110,476.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 8.60% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Brookfield Asset Management Inc. acquired a new position in Falcon Minerals in the third quarter valued at approximately $11,275,000. Vanguard Group Inc. acquired a new position in Falcon Minerals in the third quarter valued at approximately $10,156,000. Soros Fund Management LLC acquired a new position in Falcon Minerals in the third quarter valued at approximately $7,700,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Falcon Minerals in the third quarter valued at approximately $3,847,000. Finally, Marshall Wace LLP acquired a new position in Falcon Minerals in the third quarter valued at approximately $2,747,000. 71.44% of the stock is currently owned by hedge funds and other institutional investors.
Falcon Minerals Company Profile
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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