Capital One – Brigham Minerals, Inc. to Post Q2 2021 Earnings of $0.20 Per Share, Capital One Financial Forecasts (NYSE:MNRL)
Brigham Minerals, Inc. (NYSE:MNRL) – Investment analysts at Capital One Financial raised their Q2 2021 EPS estimates for Brigham Minerals in a research note issued to investors on Thursday, July 22nd. Capital One Financial analyst K. May now forecasts that the company will earn $0.20 per share for the quarter, up from their prior estimate of $0.15. Capital One Financial also issued estimates for Brigham Minerals’ Q3 2021 earnings at $0.26 EPS and FY2021 earnings at $0.92 EPS.
MNRL has been the topic of several other research reports. KeyCorp raised their price objective on Brigham Minerals from $19.00 to $21.00 and gave the stock an “overweight” rating in a report on Wednesday, June 16th. Zacks Investment Research upgraded Brigham Minerals from a “sell” rating to a “hold” rating in a report on Thursday. TheStreet upgraded Brigham Minerals from a “d-” rating to a “c-” rating in a report on Friday, May 7th. Finally, Barclays lifted their target price on Brigham Minerals from $17.00 to $18.00 and gave the company an “overweight” rating in a report on Thursday, June 3rd. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $17.00.
Shares of NYSE:MNRL opened at $19.11 on Monday. The company’s fifty day moving average is $19.81. The firm has a market cap of $1.08 billion, a PE ratio of -18.74 and a beta of 2.38. The company has a current ratio of 4.15, a quick ratio of 4.15 and a debt-to-equity ratio of 0.05. Brigham Minerals has a one year low of $8.05 and a one year high of $21.94. Brigham Minerals (NYSE:MNRL) last released its quarterly earnings data on Thursday, May 6th. The company reported $0.20 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.05). Brigham Minerals had a negative net margin of 41.33% and a positive return on equity of 1.72%. The firm had revenue of $33.77 million during the quarter, compared to analysts’ expectations of $30.32 million.
The business also recently declared a quarterly dividend, which was paid on Friday, May 28th. Shareholders of record on Friday, May 21st were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, May 20th. This represents a $1.28 annualized dividend and a dividend yield of 6.70%. This is a boost from Brigham Minerals’s previous quarterly dividend of $0.26. Brigham Minerals’s dividend payout ratio is currently 673.68%.
In other news, CFO Blake C. Williams sold 26,500 shares of the business’s stock in a transaction on Wednesday, June 2nd. The shares were sold at an average price of $18.99, for a total transaction of $503,235.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director W Howard Keenan, Jr. sold 107,954 shares of the company’s stock in a transaction on Monday, June 21st. The stock was sold at an average price of $20.84, for a total transaction of $2,249,761.36. The disclosure for this sale can be found here. Insiders sold 584,727 shares of company stock worth $11,530,367 in the last ninety days. 3.70% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Brigham Minerals by 32.4% during the first quarter. BlackRock Inc. now owns 4,826,356 shares of the company’s stock valued at $70,656,000 after buying an additional 1,180,574 shares during the last quarter. Morgan Stanley raised its position in shares of Brigham Minerals by 23,851.2% during the fourth quarter. Morgan Stanley now owns 1,989,869 shares of the company’s stock valued at $21,868,000 after buying an additional 1,981,561 shares during the last quarter. Rothschild & Co. Asset Management US Inc. acquired a new position in shares of Brigham Minerals during the first quarter valued at about $13,883,000. Peregrine Capital Management LLC raised its position in shares of Brigham Minerals by 37.4% during the first quarter. Peregrine Capital Management LLC now owns 908,782 shares of the company’s stock valued at $13,305,000 after buying an additional 247,551 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Brigham Minerals by 18.6% in the first quarter. Geode Capital Management LLC now owns 630,398 shares of the company’s stock worth $9,229,000 after purchasing an additional 98,777 shares in the last quarter. 67.68% of the stock is owned by hedge funds and other institutional investors.
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 South Central Oklahoma Oil Province and Sooner Trend Anadarko Basin Canadian and Kingfisher Counties 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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