Brigham Minerals (NYSE:MNRL) Price Target Raised to $28.00

Brigham Minerals (NYSE:MNRLGet Rating) had its target price upped by KeyCorp from $25.00 to $28.00 in a report released on Monday, Marketbeat.com reports. The firm currently has an overweight rating on the stock. KeyCorp also issued estimates for Brigham Minerals’ Q1 2022 earnings at $0.29 EPS, Q2 2022 earnings at $0.35 EPS, Q3 2022 earnings at $0.31 EPS, Q4 2022 earnings at $0.32 EPS, FY2022 earnings at $1.27 EPS, Q1 2023 earnings at $0.29 EPS, Q2 2023 earnings at $0.28 EPS, Q3 2023 earnings at $0.29 EPS, Q4 2023 earnings at $0.30 EPS and FY2023 earnings at $1.16 EPS.

Several other equities research analysts have also commented on the company. Raymond James upped their price objective on Brigham Minerals from $35.00 to $39.00 and gave the stock a strong-buy rating in a research note on Friday, March 25th. Zacks Investment Research downgraded shares of Brigham Minerals from a buy rating to a hold rating in a report on Saturday, April 9th. Wells Fargo & Company upped their target price on shares of Brigham Minerals from $24.00 to $27.00 and gave the stock an equal weight rating in a report on Friday, March 25th. Barclays upped their target price on shares of Brigham Minerals from $24.00 to $25.00 and gave the stock an overweight rating in a report on Tuesday, February 15th. Finally, Piper Sandler upped their target price on shares of Brigham Minerals from $30.00 to $31.00 and gave the stock an overweight rating in a report on Thursday, April 7th. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of Buy and a consensus target price of $30.00.

NYSE:MNRL opened at $28.07 on Monday. The company has a debt-to-equity ratio of 0.13, a current ratio of 2.53 and a quick ratio of 2.53. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 25.29 and a beta of 2.12. Brigham Minerals has a one year low of $15.27 and a one year high of $28.35. The business has a fifty day moving average price of $24.41 and a 200-day moving average price of $22.69.

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

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 25th. Shareholders of record on Friday, March 18th were issued a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 6.41%. 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 dividend payout ratio is 50.45%.

In other Brigham Minerals news, Director Pbra, Llc sold 81,287 shares of the stock in a transaction dated Wednesday, March 9th. The shares were sold at an average price of $25.28, for a total transaction of $2,054,935.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 780,440 shares of company stock valued at $19,456,167 in the last three months. Insiders own 3.70% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in MNRL. Sugarloaf Wealth Management LLC boosted its holdings in shares of Brigham Minerals by 153.6% during the 4th quarter. Sugarloaf Wealth Management LLC now owns 2,686 shares of the company’s stock valued at $57,000 after purchasing an additional 1,627 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of Brigham Minerals during the 4th quarter valued at about $65,000. Gibson Wealth Advisors LLC purchased a new stake in shares of Brigham Minerals during the 4th quarter valued at about $84,000. Allspring Global Investments Holdings LLC purchased a new stake in shares of Brigham Minerals during the 4th quarter valued at about $144,000. Finally, BNP Paribas Arbitrage SA raised its position in shares of Brigham Minerals by 12.6% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 7,633 shares of the company’s stock valued at $146,000 after buying an additional 856 shares in the last quarter. 66.80% of the stock is owned by institutional investors and hedge funds.

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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