According to Zacks, “Brigham Minerals Inc. is a mineral acquisition company. It is focused on acquiring oil and gas mineral rights in unconventional, shale plays throughout the United States – including the Delaware and Midland Basins in Texas, the SCOOP and STACK plays in Oklahoma, the DJ Basin in Colorado and Wyoming, as well as the Bakken and Three Forks plays in North Dakota. Brigham Minerals Inc. is based in Austin, Texas. “
Several other equities research analysts have also recently commented on MNRL. Wells Fargo & Co cut their price target on shares of Brigham Minerals from $24.00 to $22.00 and set an outperform rating on the stock in a research report on Tuesday, October 15th. Capital One Financial initiated coverage on shares of Brigham Minerals in a report on Friday, October 18th. They issued an overweight rating and a $23.00 target price on the stock. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $25.08.
Brigham Minerals (NYSE:MNRL) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.05). The business had revenue of $25.11 million for the quarter, compared to analysts’ expectations of $25.50 million. As a group, research analysts expect that Brigham Minerals will post 0.54 EPS for the current year.
Several hedge funds have recently modified their holdings of MNRL. Warburg Pincus LLC bought a new position in Brigham Minerals in the 2nd quarter valued at about $275,554,000. Nuveen Asset Management LLC bought a new position in Brigham Minerals in the 2nd quarter valued at about $19,202,000. BlackRock Inc. bought a new position in Brigham Minerals in the 2nd quarter valued at about $16,834,000. CIBC Private Wealth Group LLC raised its holdings in Brigham Minerals by 31.8% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 650,987 shares of the company’s stock valued at $12,955,000 after acquiring an additional 157,055 shares during the period. Finally, Vanguard Group Inc. bought a new position in Brigham Minerals in the 2nd quarter valued at about $12,755,000. 58.04% of the stock is currently owned by institutional investors.
About Brigham Minerals
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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