According to Bloomberg Ratings, the seven research firms that follow Brigham Minerals, Inc. (NYSE: MNRL) have collectively assigned the company a rating of “Moderate Buy” for the stock. This is according to the rating that the company gave to the stock. The company has been given a buy rating by one research expert and a strong buy recommendation by another. Investors should keep their holdings in the company according to the recommendations of four research experts. According to the recommendations of brokers who rated the stock in the previous year, it is anticipated that the company will reach its average price objective of $34.60 within the next twelve months. This is the expectation based on the average price objective.
About MNRL, a substantial amount of research has been analyzed and presented in reports. In a research report released on November 17, Piper Sandler lowered their rating on the shares of Brigham Minerals from “overweight” to “neutral,” and they increased their price objective from $34.00 to $36.00. In a research report released on Tuesday, October 25, Stifel Nicolaus lowered its price target for Brigham Minerals from $31.00 to $27.00 and downgraded the company from a “buy” rating to a “hold” rating. These actions were taken in response to the company’s recent performance. Brigham Minerals received an “overweight” rating from Barclays in a research note published on October 19 and disseminated by the financial services firm.
Additionally, Barclays increased its price objective for the company from $35 to $36. Both of these adjustments were made directly from the most recent earnings report that the company published. Raymond James lowered their price objective on Brigham Minerals shares from $49.00 to $44.00 and categorized the stock as a “strong buy” in a research note published on Monday, October 24.
When trading started on Friday, the share price of MNRL was determined to be $32.50 per share. The moving average for the company over the past 50 days is $33.59, and the moving average over the last 200 days is $29.89. The debt-to-equity ratio was calculated to be 0.10, the current ratio was calculated to be 4.59, and the quick ratio was also calculated to be 4.59. The company’s market capitalization is currently valued at $1.96 billion, its PE ratio is 13.32, and its beta is 1.88. The company’s beta value is 1.88. Within the last year, the price of Brigham Minerals has ranged from a low of $20.53 to a high of $37.79. The current price of the stock is $20.53.
The most recent quarterly earnings report for Brigham Minerals, which began trading on the New York Stock Exchange (NYSE) on November 3 under the ticker symbol MNRL, can be found here. The company reported earnings per share (EPS) for the period at $0.83, which is $0.16 higher than the estimates floating around the market, which were $0.67. The company’s actual revenue during the quarter was significantly higher than the analysts’ prediction of $79.18 million, coming in at $94.21 million instead of the predicted amount. The equity return for Brigham Minerals was 18.33 percent, while the net margin for the company was 42.07 percent. A profit of 2.8 cents per share is what market analysts anticipate will be generated by Brigham Minerals for the current fiscal year.
In addition, the business just recently announced a quarterly dividend distribution, which took place on November 25 and was paid out to shareholders. On Friday, November 18, a dividend payment of $0.16 was made to shareholders who recorded holders as of the previous business day. This payment was made to shareholders who held records as of the previous business day. This translates to a dividend payment of $0.64 and a dividend yield of 1.97% when calculated annually. This dividend’s date of exclusion from the dividend pool was last Thursday, November 17, and the dividend itself was distributed the following Monday. According to our calculations, Brigham Minerals’ dividend payout ratio as of right now stands at 26.23%.
In other news, on Monday, December 5, Robert M. Roosa, Chief Executive Officer of the company, sold 6,250 shares of the company’s stock. This was reported in a press release. A total of 223 437.50 dollars’ worth of the company’s stock was traded at an average price of $35.75 per share, making the total amount transacted 223 437.50 dollars. As a result of the successful completion of the transaction, the Chief Executive Officer now owns 394,465 shares of the company, which have a value of $14,102,123.75. One can access a document that provides additional information on the transaction by going to the Securities and Exchange Commission (SEC) website. The company insiders’ current ownership of the company’s stock is 3.92%.
In recent times, there has been significant market activity from various institutional investors who have been buying and selling company shares. During the second quarter, Captrust Financial Advisors carried out a 61.3% increase in the amount of Brigham Minerals stock held in its portfolio. The most recent fiscal quarter saw Captrust Financial Advisors purchase an additional 517 shares of the company’s stock, bringing the total number of shares purchased to 1,360 at a value of $33,000. This brings the total number of shares purchased throughout the company’s history to $33,000. Point 72 Hong Kong Ltd. increased its previous investment in Brigham Minerals by approximately $41,000 during the first quarter, bringing the total amount of money it has contributed to the company up to its maximum level. Great West Life Assurance Company of Canada invested approximately $68,000 in Brigham Minerals during the third quarter to purchase a new investment in the company. The value of this new investment in Brigham Minerals was $82,000, and it was made by Harel Insurance Investments & Financial Services Ltd. during the third quarter. And finally, during the first quarter of this year, Advisor Group Holdings Inc. increased the amount of Brigham Minerals stock that is owned by 20.2%, bringing its total ownership percentage to a total of 45%. During the relevant period, Advisor Group Holdings Inc. made an additional purchase of 557 shares, bringing its total number of shares of the company’s stock to 3,319 shares. Each of these shares has a current value of $84,000, and the company’s stock is worth $84,000. At present, institutions hold a total of 76.33% of the outstanding shares.