Falcon Minerals (NASDAQ:FLMN) Posts Earnings Results

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Falcon Minerals (NASDAQ:FLMN) announced its quarterly earnings results on Thursday. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02), Fidelity Earnings reports. Falcon Minerals had a return on equity of 10.79% and a net margin of 31.57%. The company had revenue of $15.91 million during the quarter, compared to analyst estimates of $16.30 million.

Shares of NASDAQ FLMN traded up $0.01 during trading hours on Friday, hitting $6.39. 229,400 shares of the company’s stock were exchanged, compared to its average volume of 210,448. The stock has a market capitalization of $552.95 million, a price-to-earnings ratio of 31.95 and a beta of 0.49. The company has a debt-to-equity ratio of 0.14, a current ratio of 9.25 and a quick ratio of 9.25. Falcon Minerals has a 1-year low of $5.31 and a 1-year high of $9.53. The company’s 50-day moving average price is $6.17 and its 200-day moving average price is $7.14.

FLMN has been the subject of a number of analyst reports. Wells Fargo & Co initiated coverage on Falcon Minerals in a research report on Friday, October 4th. They issued a “market perform” rating for the company. Zacks Investment Research raised Falcon Minerals from a “sell” rating to a “hold” rating in a research report on Thursday, October 31st. ValuEngine raised Falcon Minerals from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, Citigroup set a $8.00 price target on Falcon Minerals and gave the stock a “buy” rating in a research report on Monday, August 12th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $9.89.

In other news, major shareholder Hite Hedge Asset Management Ll sold 117,627 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The stock was sold at an average price of $6.36, for a total value of $748,107.72. Insiders sold a total of 322,669 shares of company stock worth $2,176,423 over the last three months. 15.80% of the stock is owned by company insiders.

About Falcon Minerals

Falcon Minerals Corporation acquires and owns mineral, royalty, and over-riding royalty interests in oil and natural gas properties in North America. It owns interests covering approximately 256,000 gross unit acres in the Eagle Ford Shale and Austin Chalk in Karnes, DeWitt, and Gonzales Counties in Texas, as well as approximately 68,000 gross unit acres in Pennsylvania, Ohio, and West Virginia that is prospective for the Marcellus Shale.

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Earnings History for Falcon Minerals (NASDAQ:FLMN)

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