Brigham Minerals (NYSE:MNRL) Rating Lowered to Hold at Zacks Investment Research

Brigham Minerals (NYSE:MNRL) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

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 analysts have also recently weighed in on MNRL. Royal Bank of Canada restated a “buy” rating and set a $25.00 price objective on shares of Brigham Minerals in a research report on Monday, January 20th. Tudor Pickering assumed coverage on shares of Brigham Minerals in a research report on Wednesday, January 22nd. They set a “buy” rating on the stock. Finally, KeyCorp assumed coverage on shares of Brigham Minerals in a research report on Wednesday, January 22nd. They set an “overweight” rating and a $22.00 price objective on the stock. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $24.62.

NYSE:MNRL traded up $1.52 during trading hours on Wednesday, hitting $15.95. The stock had a trading volume of 1,351,901 shares, compared to its average volume of 436,721. The company has a 50 day simple moving average of $17.58 and a two-hundred day simple moving average of $19.29. The company has a quick ratio of 7.07, a current ratio of 7.07 and a debt-to-equity ratio of 0.76. Brigham Minerals has a one year low of $13.81 and a one year high of $23.29.

Brigham Minerals (NYSE:MNRL) last announced its quarterly earnings results on Thursday, February 27th. The company reported $0.19 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.21 by ($0.02). The business had revenue of $33.61 million for the quarter, compared to analysts’ expectations of $28.67 million. Analysts anticipate that Brigham Minerals will post 0.53 EPS for the current fiscal year.

In other Brigham Minerals news, Director James R. Levy sold 2,955,810 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $17.38, for a total value of $51,371,977.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Yorktown X. Associates Llc sold 802,324 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $17.38, for a total transaction of $13,944,391.12. The disclosure for this sale can be found here.

Institutional investors have recently made changes to their positions in the business. Royal Bank of Canada bought a new stake in Brigham Minerals in the 2nd quarter worth $27,000. Great West Life Assurance Co. Can bought a new stake in Brigham Minerals in the 4th quarter worth $44,000. Ladenburg Thalmann Financial Services Inc. grew its holdings in Brigham Minerals by 153,300.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,602 shares of the company’s stock worth $99,000 after acquiring an additional 4,599 shares during the last quarter. Citigroup Inc. grew its holdings in Brigham Minerals by 624.9% in the 4th quarter. Citigroup Inc. now owns 4,915 shares of the company’s stock worth $106,000 after acquiring an additional 4,237 shares during the last quarter. Finally, US Bancorp DE grew its holdings in Brigham Minerals by 159.0% in the 4th quarter. US Bancorp DE now owns 5,420 shares of the company’s stock worth $116,000 after acquiring an additional 3,327 shares during the last quarter. 75.65% of the stock is currently owned by institutional investors and hedge funds.

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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