In a research note released on Tuesday, equity researchers at Raymond James increased their price objective for Brigham Minerals (NYSE: MNRL) from $41.00 to $49.00. The Fly reported this. When compared against the stock’s most recent closing price, the price target issued by Raymond James suggests a potential gain of 59.45%. Investors’ enthusiasm about Brigham Minerals’ performance in the company’s third-quarter drives up the stock price of company’s shares. On the topic of MNRL, the opinions of other research companies have also been provided. In a research report that was released on Friday, July 22nd, Piper Sandler decreased their target price on Brigham Minerals shares from $32.00 to $31.00 in a research report. Despite this change, they continued to retain an “overweight” rating on the stock. The target price for Brigham Minerals was raised from $29.00 to $30.00 in a Wells Fargo & Business report on May 23rd.
Additionally, an “equal weight” rating was assigned to the firm by Wells Fargo & Business. Barclays gave the firm an “overweight” rating and raised its price target for Brigham Minerals shares from $29.00 to $38.00 in research that was issued on the 14th of June. The report was about the company. Both of these moves were made as a reaction to the most recent earnings report that the corporation published. There have been a total of three analysts who have provided their opinion that the stock should be purchased, with one of them providing a strong buy recommendation for the stock and one of them classifying the stock as a hold. The data provided by Bloomberg indicates that the current consensus price goal for Brigham Minerals is $35.20, and the business now has a recommendation of “Buy” on average.
When trading started on Tuesday, the price of a share of Brigham Minerals was $30.73 per share. The stock’s 50-day moving average and its 200-day moving average are both currently lying at $26.34 and $26.43, respectively. The price of one share of Brigham Minerals has varied widely over the past year, ranging from $17.80 to $33.64 at their extremes. The quick ratio equals 5.05 as a numerical value. 5.05 is the current ratio as of right now. At the moment, the ratio of debt to equity stands at 0.10. The stock is trading at a price of 14.92 times its earnings, and the company’s beta value is 1.90. The shares of the corporation have a market value of $1.86 billion as a whole. On August 4th, the report on the performance of Brigham Minerals was made public and was listed under the ticker symbol NYSE: MNRL. The company’s earnings per share for the quarter came in at $0.78, which was $0.09 more than the consensus estimate of $0.69 from industry professionals. Brigham Minerals had a return on equity of 14.52%, and its net margin was 41.17% for the company. The sales for the quarter came in at $90.88 million, which was much more than the $81.38 million that analysts had predicted the sales would be for the period. Compared to the prior year’s results for the same quarter, the company’s earnings per share came in at $0.25. Revenue for the quarter at Brigham Minerals was up by 27.2% compared to the same period the prior year. Following the stock market, analysts have forecasted that Brigham Minerals will make $2.56 per share earnings during the current fiscal year.
As revealed in other news, Director Pbra, LLC sold 100,253 shares of the company’s stock on Friday, June 10. The price of each share, which was ultimately sold for a sum totaling $3,240,176.96, was determined to be $32.32 on average. The Securities and Exchange Commission was provided with a report regarding the transaction, which can be found by following the link. As revealed in other news, Director Pbra, LLC sold 100,253 shares of the company’s stock on Friday, June 10. The price of each share, which was ultimately sold for a sum totaling $3,240,176.96, was determined to be $32.32 on average. The Securities and Exchange Commission was provided with a report regarding the transaction, which can be found by following the link.
Additionally, on Monday, June 6, Chief Executive Officer Robert M. Roosa sold 6,250 shares of the company’s stock. The price of each share, which brought in a total of $199,625.00 when they were sold, was determined to be $31.94 on average. As a direct result of the transaction, the chief executive officer now directly owns 406,965 shares of the company’s stock with a value of $12,998,462.10. This is the location where the disclosure for sale may be found. Over the past three months, firm insiders have offloaded 436,376 shares of company stock for a combined total of $13,209,960. There is a 3.92% ownership share in the company held by company insiders. Recently, several institutional investors and hedge funds altered the proportion of the company they held in their respective portfolios. In the first three months of 2018, Wellington Management Group LLP observed a 32.8% increase in the value of its holdings in Brigham Minerals. The most recent quarter saw Wellington Management Group LLP acquire an additional 1,019,459 shares of the company’s stock, bringing their total number of shares owned in the business to 4,126,056 with a value of $105,421,000. The Vanguard Group Inc. boosted its holdings in Brigham Minerals by 9.3% during the first quarter of this year. The company now owns 2,584,640 shares, valued at $66,037,000, after purchasing an additional 219,754 shares during the most recent fiscal quarter. During the second quarter, State Street Corporation boosted the percentage of Brigham Minerals stock owned by 42.9%. The value of the 2,245,408 shares of the company that State Street Corp. currently owns is $55,304,000. This growth was accomplished by the company’s making an additional purchase of 673,822 shares during the most recent quarter. During the second quarter, Horizon Kinetics Asset Management LLC increased the percentage of Brigham Minerals in which it was invested by 14.6%. After purchasing an additional 286,292 shares during the most recent quarter, Horizon Kinetics Asset Management LLC now owns 2,243,428 shares of the company’s stock. The value of Horizon Kinetics Asset Management LLC’s holdings in these shares is $55,256,000. In the fourth quarter, Westwood Holdings Group Inc. increased the percentage of Brigham Minerals stock owned by 16.7%. This brings us to our final point. After purchasing an additional 224,462 shares during the most recent quarter, Westwood Holdings Group Inc. now has a total of 1,571,366 shares of the company’s stock, which are currently valued at $33,140,000. At the moment, institutional investors own 78.20% of the company’s stock. Brigham Minerals, Inc. owns and maintains a portfolio of minerals and royalties that spans the continental United States of America. The Delaware and Midland Basins in West Texas and New Mexico, as well as the South Central Oklahoma Oil Province and Sooner Basin in Oklahoma, are where the majority of the company’s mineral and royalty assets are situated. Trend Canadian and Kingfisher Counties are involved in oil and gas exploration in Colorado’s Denver-Julesburg Basin, North Dakota’s Williston Basin, and Oklahoma’s Anadarko Basin.