Raymond James Increases Brigham Minerals (NYSE:MNRL) Price Target to $44.00

Brigham Minerals (NYSE:MNRLGet Rating) had its price objective hoisted by equities research analysts at Raymond James from $41.00 to $44.00 in a note issued to investors on Tuesday, The Fly reports. Raymond James’ price objective indicates a potential upside of 60.06% from the company’s previous close.

MNRL has been the topic of a number of other reports. Zacks Investment Research cut shares of Brigham Minerals from a “buy” rating to a “hold” rating in a research note on Saturday, April 9th. KeyCorp raised their target price on Brigham Minerals from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Monday, April 11th. Wells Fargo & Company increased their price target on Brigham Minerals from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research note on Monday. Piper Sandler increased their target price on shares of Brigham Minerals to $32.00 and gave the stock a “na” rating in a research report on Wednesday, May 18th. Finally, TheStreet raised shares of Brigham Minerals from a “c+” rating to a “b” rating in a research report on Monday, April 18th. Two research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $32.17.

MNRL opened at $27.49 on Tuesday. Brigham Minerals has a 1 year low of $16.51 and a 1 year high of $28.84. The company has a debt-to-equity ratio of 0.13, a current ratio of 3.55 and a quick ratio of 3.55. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 17.97 and a beta of 1.97. The firm’s fifty day moving average price is $26.05 and its two-hundred day moving average price is $23.65.

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). Brigham Minerals had a net margin of 36.54% and a return on equity of 10.56%. The firm had revenue of $47.67 million during the quarter, compared to analysts’ expectations of $47.23 million. During the same quarter last year, the business posted $0.07 EPS. As a group, equities analysts anticipate that Brigham Minerals will post 2.81 EPS for the current year.

In other news, Director Pbra, Llc sold 102,002 shares of the company’s stock in a transaction on Monday, March 7th. The shares were sold at an average price of $27.20, for a total value of $2,774,454.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 780,440 shares of company stock valued at $19,456,167. Insiders own 3.92% of the company’s stock.

A number of institutional investors have recently made changes to their positions in MNRL. Point72 Hong Kong Ltd purchased a new stake in shares of Brigham Minerals during the 1st quarter valued at $41,000. Sugarloaf Wealth Management LLC increased its position 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 position in shares of Brigham Minerals during the 4th quarter valued at about $65,000. Great West Life Assurance Co. Can grew its position in Brigham Minerals by 58.3% during the first quarter. Great West Life Assurance Co. Can now owns 2,779 shares of the company’s stock valued at $76,000 after acquiring an additional 1,024 shares during the last quarter. Finally, Gibson Wealth Advisors LLC purchased a new position in shares of Brigham Minerals during the fourth quarter worth approximately $84,000. Institutional investors and hedge funds own 68.81% 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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