Brigham Minerals Inc (NYSE:MNRL) – Investment analysts at Capital One Financial cut their Q1 2020 earnings estimates for Brigham Minerals in a research report issued on Thursday, December 12th. Capital One Financial analyst K. May now expects that the company will earn $0.19 per share for the quarter, down from their prior forecast of $0.21. Capital One Financial currently has a “Overweight” rating and a $23.00 target price on the stock. Capital One Financial also issued estimates for Brigham Minerals’ Q2 2020 earnings at $0.21 EPS.
A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research raised shares of Brigham Minerals from a “sell” rating to a “hold” rating in a research report on Saturday, November 9th. Wells Fargo & Co decreased their target price on shares of Brigham Minerals from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Brigham Minerals currently has an average rating of “Buy” and a consensus target price of $25.08.
Brigham Minerals (NYSE:MNRL) last posted its earnings results on Thursday, November 7th. The company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.05). The company had revenue of $25.11 million for the quarter, compared to the consensus estimate of $25.50 million.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada purchased a new position in shares of Brigham Minerals in the second quarter worth $27,000. US Bancorp DE purchased a new position in shares of Brigham Minerals in the second quarter worth $37,000. JPMorgan Chase & Co. purchased a new position in shares of Brigham Minerals in the second quarter worth $93,000. Bank of Montreal Can purchased a new position in shares of Brigham Minerals in the second quarter worth $97,000. Finally, Metropolitan Life Insurance Co NY purchased a new position in shares of Brigham Minerals in the third quarter worth $141,000. 43.29% of the stock is owned by institutional investors and hedge funds.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Wednesday, November 20th were issued a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, November 19th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 7.10%.
Brigham Minerals Company Profile
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 Permian Basin in West Texas and New Mexico; the SCOOP/STACK 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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