Raymond James Financial Services Advisors Inc. trimmed its position in Brigham Minerals, Inc. (NYSE:MNRL) by 34.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 10,848 shares of the company’s stock after selling 5,656 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Brigham Minerals were worth $119,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. QV Investors Inc. acquired a new stake in Brigham Minerals in the 4th quarter worth about $53,000. Arizona State Retirement System boosted its holdings in Brigham Minerals by 11.2% in the 4th quarter. Arizona State Retirement System now owns 12,458 shares of the company’s stock worth $137,000 after buying an additional 1,254 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Brigham Minerals in the 4th quarter worth about $137,000. Trexquant Investment LP purchased a new position in Brigham Minerals in the 4th quarter worth approximately $142,000. Finally, Citigroup Inc. lifted its stake in Brigham Minerals by 41.2% in the 4th quarter. Citigroup Inc. now owns 16,531 shares of the company’s stock worth $182,000 after purchasing an additional 4,822 shares in the last quarter. Institutional investors own 70.57% of the company’s stock.
In other news, Director W Howard Keenan, Jr. sold 11,854 shares of the company’s stock in a transaction on Monday, March 22nd. The stock was sold at an average price of $14.37, for a total transaction of $170,341.98. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director W Howard Keenan, Jr. sold 30,941 shares of the company’s stock in a transaction on Friday, March 12th. The stock was sold at an average price of $16.41, for a total value of $507,741.81. The disclosure for this sale can be found here. In the last three months, insiders sold 100,470 shares of company stock worth $1,573,277. 3.35% of the stock is owned by corporate insiders.
Brigham Minerals (NYSE:MNRL) last announced its earnings results on Thursday, February 25th. The company reported ($0.87) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.93). The firm had revenue of $23.76 million during the quarter, compared to analysts’ expectations of $25.15 million. Brigham Minerals had a negative net margin of 3.67% and a positive return on equity of 1.70%. Analysts anticipate that Brigham Minerals, Inc. will post 0.14 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 26th. Shareholders of record on Friday, March 19th were given a $0.26 dividend. This is a positive change from Brigham Minerals’s previous quarterly dividend of $0.24. The ex-dividend date was Thursday, March 18th. This represents a $1.04 dividend on an annualized basis and a yield of 6.45%. Brigham Minerals’s payout ratio is presently 182.46%.
A number of research firms have weighed in on MNRL. Zacks Investment Research lowered shares of Brigham Minerals from a “buy” rating to a “hold” rating in a research note on Thursday, February 25th. Credit Suisse Group raised their target price on shares of Brigham Minerals from $16.00 to $18.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 3rd. Finally, Royal Bank of Canada reaffirmed a “buy” rating and set a $18.00 price target on shares of Brigham Minerals in a research report on Sunday, February 14th. One investment analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Brigham Minerals currently has a consensus rating of “Buy” and a consensus price target of $15.30.
Brigham Minerals 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 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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