Falcon Minerals (FLMN) Earns Outperform Rating from Analysts at Credit Suisse Group

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Credit Suisse Group assumed coverage on shares of Falcon Minerals (NASDAQ:FLMN) in a research note released on Friday, MarketBeat Ratings reports. The firm issued an outperform rating and a $11.00 price target on the stock.

A number of other research analysts also recently issued reports on FLMN. Northland Securities initiated coverage on Falcon Minerals in a report on Wednesday, September 26th. They set an outperform rating and a $13.00 price target on the stock. ValuEngine downgraded Falcon Minerals from a hold rating to a sell rating in a report on Friday, November 2nd. Zacks Investment Research upgraded Falcon Minerals from a hold rating to a buy rating and set a $8.75 price target on the stock in a report on Tuesday, November 27th. Finally, Citigroup initiated coverage on Falcon Minerals in a report on Thursday, November 29th. They set a buy rating and a $11.00 price target on the stock. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $10.94.

NASDAQ:FLMN traded up $0.18 during mid-day trading on Friday, reaching $7.56. 149,944 shares of the company’s stock traded hands, compared to its average volume of 152,453. Falcon Minerals has a 12-month low of $7.12 and a 12-month high of $11.70. The company has a debt-to-equity ratio of 0.14, a quick ratio of 34.70 and a current ratio of 34.70.

Falcon Minerals (NASDAQ:FLMN) last announced its quarterly earnings results on Friday, November 9th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.14). The company had revenue of $24.28 million during the quarter, compared to the consensus estimate of $29.70 million. As a group, analysts forecast that Falcon Minerals will post 0.6 EPS for the current fiscal year.

The firm also recently declared a special dividend, which was paid on Thursday, November 15th. Investors of record on Thursday, November 8th were issued a dividend of $0.095 per share. The ex-dividend date was Wednesday, November 7th.

In related news, major shareholder Jana Partners Llc sold 803,393 shares of the business’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $11.34, for a total transaction of $9,110,476.62. The sale was disclosed in a filing with the SEC, which is accessible through this link. 8.60% of the stock is owned by insiders.

A number of large investors have recently made changes to their positions in the stock. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in shares of Falcon Minerals during the 3rd quarter worth approximately $2,485,000. Engineers Gate Manager LP purchased a new position in shares of Falcon Minerals during the 3rd quarter worth approximately $572,000. Gabelli Funds LLC purchased a new position in shares of Falcon Minerals during the 3rd quarter worth approximately $1,818,000. Hartree Partners LP purchased a new position in shares of Falcon Minerals during the 3rd quarter worth approximately $2,695,000. Finally, Monashee Investment Management LLC purchased a new position in shares of Falcon Minerals during the 3rd quarter worth approximately $1,760,000. Institutional investors own 71.44% of the company’s stock.

Falcon Minerals Company Profile

Falcon Minerals Corporation acquires, owns, maintains, and manages mineral interests, mineral royalties, and overriding royalties relating to onshore unconventional shale oil and natural gas properties in the United States; and any associated interests and royalties relating to conventional oil and natural gas properties.

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