Short Interest in Falcon Minerals Corp (NASDAQ:FLMN) Grows By 7.0%

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Falcon Minerals Corp (NASDAQ:FLMN) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,990,000 shares, a growth of 7.0% from the September 30th total of 1,860,000 shares. Approximately 5.3% of the shares of the company are sold short. Based on an average daily volume of 231,500 shares, the short-interest ratio is presently 8.6 days.

In other news, major shareholder Hite Hedge Asset Management Ll sold 117,627 shares of Falcon Minerals stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $6.36, for a total transaction of $748,107.72. Insiders have sold a total of 322,669 shares of company stock worth $2,176,423 over the last quarter. Company insiders own 15.80% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of FLMN. BlackRock Inc. lifted its position in Falcon Minerals by 1,296.3% in the 2nd quarter. BlackRock Inc. now owns 2,002,355 shares of the company’s stock worth $16,820,000 after buying an additional 1,858,954 shares during the last quarter. Vanguard Group Inc. lifted its position in Falcon Minerals by 14.6% in the 2nd quarter. Vanguard Group Inc. now owns 1,277,515 shares of the company’s stock worth $10,731,000 after buying an additional 163,149 shares during the last quarter. Cooperman Leon G bought a new stake in Falcon Minerals in the 2nd quarter worth approximately $3,385,000. Marshall Wace LLP lifted its position in Falcon Minerals by 50.6% in the 2nd quarter. Marshall Wace LLP now owns 368,041 shares of the company’s stock worth $3,091,000 after buying an additional 123,640 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in Falcon Minerals by 61.7% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 225,640 shares of the company’s stock worth $1,896,000 after buying an additional 86,128 shares during the last quarter. 38.80% of the stock is owned by institutional investors.

A number of equities research analysts have recently commented on FLMN shares. ValuEngine upgraded Falcon Minerals from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Citigroup set a $8.00 target price on Falcon Minerals and gave the stock a “buy” rating in a research note on Monday, August 12th. Wells Fargo & Co started coverage on Falcon Minerals in a research note on Friday, October 4th. They set a “market perform” rating on the stock. Finally, Zacks Investment Research cut Falcon Minerals from a “hold” rating to a “sell” rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $9.89.

FLMN traded up $0.09 during trading hours on Friday, hitting $6.46. The stock had a trading volume of 2,794,300 shares, compared to its average volume of 238,565. Falcon Minerals has a 1 year low of $5.31 and a 1 year high of $9.53. The company has a quick ratio of 9.25, a current ratio of 6.05 and a debt-to-equity ratio of 0.15. The stock has a market cap of $551.23 million, a PE ratio of 32.30 and a beta of 0.49. The company’s fifty day simple moving average is $6.17 and its 200 day simple moving average is $7.07.

Falcon Minerals (NASDAQ:FLMN) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.02). Falcon Minerals had a return on equity of 7.16% and a net margin of 22.83%. The business had revenue of $15.91 million for the quarter, compared to analysts’ expectations of $16.30 million. As a group, equities analysts expect that Falcon Minerals will post 0.34 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Wednesday, November 20th will be issued a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 8.36%. The ex-dividend date of this dividend is Tuesday, November 19th. Falcon Minerals’s payout ratio is 300.00%.

Falcon Minerals Company Profile

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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