Falcon Minerals Corp (NASDAQ:FLMN) was the recipient of a large decline in short interest in November. As of November 29th, there was short interest totalling 1,830,000 shares, a decline of 10.3% from the November 14th total of 2,040,000 shares. Approximately 4.9% of the company’s stock are short sold. Based on an average daily trading volume, of 272,000 shares, the days-to-cover ratio is currently 6.7 days.
In other news, major shareholder Hite Hedge Asset Management Ll sold 117,627 shares of the stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $6.36, for a total transaction of $748,107.72. Insiders own 15.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of FLMN. Bank of Montreal Can acquired a new stake in Falcon Minerals during the 2nd quarter valued at $27,000. Tower Research Capital LLC TRC bought a new position in shares of Falcon Minerals in the second quarter valued at about $35,000. Metropolitan Life Insurance Co NY bought a new position in shares of Falcon Minerals in the third quarter valued at about $53,000. Strs Ohio acquired a new stake in shares of Falcon Minerals during the 2nd quarter worth about $86,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Falcon Minerals during the 2nd quarter worth about $99,000. 38.99% of the stock is currently owned by institutional investors and hedge funds.
Falcon Minerals (NASDAQ:FLMN) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). Falcon Minerals had a net margin of 22.83% and a return on equity of 7.16%. The business had revenue of $15.91 million during the quarter, compared to the consensus estimate of $16.30 million. On average, sell-side analysts expect that Falcon Minerals will post 0.34 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Wednesday, November 20th were issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 8.40%. The ex-dividend date was Tuesday, November 19th. Falcon Minerals’s payout ratio is presently 270.00%.
Several research firms have weighed in on FLMN. ValuEngine raised Falcon Minerals from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research downgraded Falcon Minerals from a “hold” rating to a “sell” rating in a report on Wednesday, November 13th. Royal Bank of Canada decreased their target price on shares of Falcon Minerals from $10.00 to $8.00 and set a “market perform” rating for the company in a research note on Monday, November 18th. Finally, Wells Fargo & Co started coverage on shares of Falcon Minerals in a report on Friday, October 4th. They set a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $9.54.
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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