Brigham Minerals (NYSE:MNRL) Shares Up 4.1%

Brigham Minerals, Inc. (NYSE:MNRLGet Rating)’s share price rose 4.1% during mid-day trading on Wednesday . The stock traded as high as $27.65 and last traded at $27.62. Approximately 17,196 shares traded hands during trading, a decline of 96% from the average daily volume of 483,723 shares. The stock had previously closed at $26.52.

Analyst Ratings Changes

MNRL has been the subject of a number of recent analyst reports. Piper Sandler dropped their price target on shares of Brigham Minerals from $32.00 to $31.00 and set an “overweight” rating for the company in a research report on Friday, July 22nd. Barclays lowered their price objective on shares of Brigham Minerals from $36.00 to $35.00 and set an “overweight” rating for the company in a research note on Wednesday, August 31st. KeyCorp assumed coverage on shares of Brigham Minerals in a research note on Monday. They issued a “sector weight” rating for the company. Finally, Raymond James lifted their price target on shares of Brigham Minerals from $41.00 to $49.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, August 30th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.60.

Brigham Minerals Stock Down 2.6 %

The business’s fifty day moving average price is $27.46 and its 200 day moving average price is $26.96. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 12.71 and a beta of 1.80. The company has a current ratio of 5.05, a quick ratio of 5.05 and a debt-to-equity ratio of 0.10.

Brigham Minerals (NYSE:MNRLGet Rating) last announced its earnings results on Thursday, August 4th. The company reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.09. The business had revenue of $90.88 million for the quarter, compared to analysts’ expectations of $81.38 million. Brigham Minerals had a net margin of 41.17% and a return on equity of 14.52%. The company’s quarterly revenue was up 27.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 EPS. On average, equities analysts expect that Brigham Minerals, Inc. will post 2.76 EPS for the current year.

Brigham Minerals Increases Dividend

The company also recently disclosed a None dividend, which was paid on Friday, August 26th. Shareholders of record on Friday, August 19th were paid a $0.77 dividend. This is a boost from Brigham Minerals’s previous None dividend of $0.60. This represents a yield of 2.2%. The ex-dividend date was Thursday, August 18th. Brigham Minerals’s payout ratio is currently 31.07%.

Hedge Funds Weigh In On Brigham Minerals

Several institutional investors have recently bought and sold shares of MNRL. Private Advisor Group LLC boosted its position in shares of Brigham Minerals by 3.7% during the 2nd quarter. Private Advisor Group LLC now owns 13,404 shares of the company’s stock worth $330,000 after purchasing an additional 476 shares in the last quarter. Citigroup Inc. boosted its position in shares of Brigham Minerals by 2.1% in the 1st quarter. Citigroup Inc. now owns 23,857 shares of the company’s stock worth $610,000 after buying an additional 487 shares in the last quarter. Captrust Financial Advisors boosted its position in shares of Brigham Minerals by 61.3% in the 2nd quarter. Captrust Financial Advisors now owns 1,360 shares of the company’s stock worth $33,000 after buying an additional 517 shares in the last quarter. Advisor Group Holdings Inc. boosted its position in shares of Brigham Minerals by 20.2% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,319 shares of the company’s stock worth $84,000 after buying an additional 557 shares in the last quarter. Finally, Great West Life Assurance Co. Can boosted its position in shares of Brigham Minerals by 58.3% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,779 shares of the company’s stock worth $76,000 after buying an additional 1,024 shares in the last quarter. 78.20% of the stock is owned by institutional investors and hedge funds.

About Brigham Minerals

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Brigham Minerals, Inc owns and operates a portfolio of mineral and royalty interests in the continental United States. The company primarily holds mineral and royalty interests in the Delaware and Midland Basins in West Texas and New Mexico; the South Central Oklahoma Oil Province and Sooner Trend Anadarko Basin Canadian and Kingfisher Counties plays in the Anadarko Basin of Oklahoma; the Denver-Julesburg Basin in Colorado; and Wyoming and the Williston Basin in North Dakota.

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