Brigham Minerals (NYSE:MNRL) Price Target Raised to $31.00

Brigham Minerals (NYSE:MNRLGet Rating) had its price objective raised by Piper Sandler from $30.00 to $31.00 in a research note published on Thursday, The Fly reports. Piper Sandler currently has an overweight rating on the stock. Piper Sandler also issued estimates for Brigham Minerals’ Q1 2022 earnings at $0.61 EPS.

MNRL has been the topic of a number of other reports. Zacks Investment Research upgraded Brigham Minerals from a hold rating to a buy rating and set a $30.00 target price on the stock in a research note on Thursday. Raymond James boosted their price objective on Brigham Minerals from $35.00 to $39.00 and gave the stock a strong-buy rating in a report on Friday, March 25th. Wells Fargo & Company boosted their price objective on Brigham Minerals from $24.00 to $27.00 and gave the company an equal weight rating in a research report on Friday, March 25th. Finally, Barclays upped their target price on Brigham Minerals from $24.00 to $25.00 and gave the company an overweight rating in a report on Tuesday, February 15th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Buy and a consensus target price of $29.50.

Brigham Minerals stock opened at $27.55 on Thursday. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 24.82 and a beta of 2.12. Brigham Minerals has a 52-week low of $15.07 and a 52-week high of $28.20. The company has a debt-to-equity ratio of 0.13, a quick ratio of 2.53 and a current ratio of 2.53. The firm has a 50 day moving average price of $24.11 and a two-hundred day moving average price of $22.57.

Brigham Minerals (NYSE:MNRLGet Rating) last posted its quarterly earnings results on Wednesday, February 23rd. The company reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $47.67 million during the quarter, compared to analyst estimates of $47.23 million. Brigham Minerals had a net margin of 31.19% and a return on equity of 7.55%. During the same period in the previous year, the business posted $0.07 EPS. As a group, equities research analysts predict that Brigham Minerals will post 2.26 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Friday, March 18th were paid a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a yield of 6.53%. The ex-dividend date was Thursday, March 17th. This is an increase from Brigham Minerals’s previous quarterly dividend of $0.40. Brigham Minerals’s payout ratio is presently 50.45%.

In other Brigham Minerals news, Director Pbra, Llc sold 102,002 shares of the stock in a transaction that occurred on Monday, March 7th. The stock was sold at an average price of $27.20, for a total transaction of $2,774,454.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold 780,440 shares of company stock worth $19,456,167 in the last 90 days. Company insiders own 3.70% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. raised its stake in Brigham Minerals by 4.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 17,099 shares of the company’s stock valued at $361,000 after buying an additional 759 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Brigham Minerals by 12.6% during the third quarter. BNP Paribas Arbitrage SA now owns 7,633 shares of the company’s stock worth $146,000 after purchasing an additional 856 shares in the last quarter. NFC Investments LLC increased its position in shares of Brigham Minerals by 0.4% during the third quarter. NFC Investments LLC now owns 413,410 shares of the company’s stock worth $7,921,000 after purchasing an additional 1,450 shares in the last quarter. Rhumbline Advisers increased its position in shares of Brigham Minerals by 2.6% during the fourth quarter. Rhumbline Advisers now owns 58,575 shares of the company’s stock worth $1,235,000 after purchasing an additional 1,468 shares in the last quarter. Finally, LPL Financial LLC increased its position in shares of Brigham Minerals by 4.9% during the third quarter. LPL Financial LLC now owns 32,392 shares of the company’s stock worth $621,000 after purchasing an additional 1,506 shares in the last quarter. Hedge funds and other institutional investors own 66.80% of the company’s stock.

Brigham Minerals Company Profile (Get Rating)

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 Delaware and Midland Basins 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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