Brigham Minerals (NYSE:MNRL) Posts Quarterly Earnings Results, Misses Expectations By $0.05 EPS

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Brigham Minerals (NYSE:MNRL) posted its quarterly earnings data on Thursday. The company reported $0.14 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.05), Fidelity Earnings reports. The company had revenue of $25.11 million for the quarter, compared to analysts’ expectations of $25.50 million.

Shares of NYSE:MNRL traded up $1.30 during mid-day trading on Friday, reaching $19.70. 665,559 shares of the company were exchanged, compared to its average volume of 214,971. The company has a 50-day moving average price of $19.87. Brigham Minerals has a 1 year low of $18.10 and a 1 year high of $23.29.

A number of equities analysts recently weighed in on the stock. Wells Fargo & Co lowered their price objective on shares of Brigham Minerals from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Capital One Financial assumed coverage on shares of Brigham Minerals in a research report on Friday, October 18th. They set an “overweight” rating and a $23.00 price objective for the company. Finally, Zacks Investment Research raised shares of Brigham Minerals from a “sell” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. Brigham Minerals presently has an average rating of “Buy” and a consensus target price of $25.08.

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.

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