Falcon Minerals Corp (FLMN) Short Interest Update

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Falcon Minerals Corp (NASDAQ:FLMN) was the target of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 386,975 shares, a decline of 37.1% from the January 15th total of 614,826 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 176,903 shares, the days-to-cover ratio is currently 2.2 days.

Shares of FLMN stock opened at $7.30 on Thursday. Falcon Minerals has a twelve month low of $6.71 and a twelve 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.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Investors of record on Thursday, February 21st will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 10.96%. The ex-dividend date of this dividend is Wednesday, February 20th.

In other news, major shareholder Hite Hedge Asset Management Ll purchased 54,130 shares of the business’s stock in a transaction dated Wednesday, February 6th. The stock was acquired at an average price of $8.23 per share, with a total value of $445,489.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian L. Frank purchased 15,000 shares of the business’s stock in a transaction dated Wednesday, December 12th. The shares were purchased at an average cost of $7.72 per share, with a total value of $115,800.00. The disclosure for this purchase can be found here. Insiders have bought a total of 1,147,870 shares of company stock valued at $8,451,208 in the last ninety days. Corporate insiders own 8.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Hodges Capital Management Inc. acquired a new position in Falcon Minerals in the 4th quarter valued at about $140,000. Tower Research Capital LLC TRC acquired a new position in Falcon Minerals in the 3rd quarter valued at about $224,000. Deprince Race & Zollo Inc. raised its stake in Falcon Minerals by 36.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 20,500 shares of the company’s stock valued at $174,000 after purchasing an additional 5,500 shares during the last quarter. Wells Fargo & Company MN acquired a new position in Falcon Minerals in the 3rd quarter valued at about $227,000. Finally, Bluefin Trading LLC purchased a new stake in Falcon Minerals in the 3rd quarter valued at about $232,000. 70.50% of the stock is owned by hedge funds and other institutional investors.

Several research analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Falcon Minerals from a “hold” rating to a “sell” rating in a research note on Wednesday, December 19th. Northland Securities set a $10.00 target price on shares of Falcon Minerals and gave the company a “buy” rating in a research note on Friday, February 8th. ValuEngine downgraded shares of Falcon Minerals from a “hold” rating to a “sell” rating in a research note on Friday, November 2nd. Finally, Citigroup assumed coverage on shares of Falcon Minerals in a research note on Thursday, November 29th. They issued a “buy” rating and a $11.00 target price for the company. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. Falcon Minerals has a consensus rating of “Hold” and an average price target of $10.19.

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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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