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. “
A number of other research firms also recently weighed in on MNRL. Capital One Financial started coverage on Brigham Minerals in a research note on Friday, October 18th. They issued an “overweight” rating and a $23.00 price target on the stock. Wells Fargo & Co decreased their price target on Brigham Minerals from $24.00 to $22.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 15th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. Brigham Minerals currently has a consensus rating of “Buy” and an average price target of $25.08.
NYSE:MNRL opened at $19.70 on Friday. Brigham Minerals has a 12-month low of $18.10 and a 12-month high of $23.29. The company has a 50 day moving average of $19.87.
Brigham Minerals (NYSE:MNRL) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.01. The business had revenue of $24.53 million during the quarter, compared to analysts’ expectations of $23.73 million. Sell-side analysts forecast that Brigham Minerals will post 0.54 EPS for the current year.
Several institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers boosted its stake in shares of Brigham Minerals by 3.7% in the third quarter. Rhumbline Advisers now owns 16,994 shares of the company’s stock valued at $338,000 after buying an additional 614 shares in the last quarter. Royal Bank of Canada purchased a new stake in Brigham Minerals during the second quarter worth $27,000. US Bancorp DE purchased a new stake in Brigham Minerals during the second quarter worth $37,000. JPMorgan Chase & Co. purchased a new stake in Brigham Minerals during the second quarter worth $93,000. Finally, Bank of Montreal Can purchased a new stake in Brigham Minerals during the second quarter worth $97,000. Hedge funds and other institutional investors own 58.04% of the company’s stock.
Brigham Minerals Company Profile
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.
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