Shares of Falcon Minerals Corp (NASDAQ:FLMN) have been assigned a consensus recommendation of “Buy” from the eleven research firms that are currently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have issued a buy rating on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $9.48.
FLMN has been the topic of several recent analyst reports. Wells Fargo & Co assumed coverage on Falcon Minerals in a research note on Friday, October 4th. They set a “market perform” rating on the stock. Citigroup set a $8.00 price target on Falcon Minerals and gave the stock a “buy” rating in a research note on Monday, August 12th. Royal Bank of Canada lowered their price target on Falcon Minerals from $10.00 to $8.00 and set a “market perform” rating on the stock in a report on Monday, November 18th. ValuEngine raised Falcon Minerals from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Zacks Investment Research cut Falcon Minerals from a “hold” rating to a “sell” rating in a research report on Wednesday, November 13th.
In other Falcon Minerals news, major shareholder Hite Hedge Asset Management Ll sold 176,400 shares of Falcon Minerals stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $7.04, for a total value of $1,241,856.00. Insiders sold 322,669 shares of company stock worth $2,176,423 in the last 90 days. 15.80% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of FLMN. Bank of Montreal Can bought a new position in shares of Falcon Minerals in the 2nd quarter worth approximately $27,000. Tower Research Capital LLC TRC bought a new stake in Falcon Minerals during the second quarter valued at about $35,000. Metropolitan Life Insurance Co NY bought a new stake in Falcon Minerals during the third quarter valued at about $53,000. Deroy & Devereaux Private Investment Counsel Inc. purchased a new stake in Falcon Minerals in the third quarter worth about $84,000. Finally, Strs Ohio purchased a new stake in Falcon Minerals in the second quarter worth about $86,000. Institutional investors own 38.99% of the company’s stock.
NASDAQ:FLMN opened at $6.26 on Tuesday. The stock has a market cap of $540.63 million, a price-to-earnings ratio of 31.30 and a beta of 0.53. The company has a quick ratio of 6.05, a current ratio of 6.05 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average price is $6.38 and its 200-day moving average price is $6.84. Falcon Minerals has a 52 week low of $5.31 and a 52 week high of $9.53.
Falcon Minerals (NASDAQ:FLMN) last announced its quarterly earnings data on Thursday, November 7th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The firm had revenue of $15.91 million during the quarter, compared to analysts’ expectations of $16.30 million. Falcon Minerals had a return on equity of 7.16% and a net margin of 22.83%. As a group, sell-side analysts anticipate that Falcon Minerals will post 0.34 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, December 3rd. Investors of record on Wednesday, November 20th were issued a $0.135 dividend. This represents a $0.54 annualized dividend and a yield of 8.63%. The ex-dividend date was Tuesday, November 19th. Falcon Minerals’s dividend payout ratio is currently 270.00%.
About Falcon Minerals
Falcon Minerals Corporation acquires and owns mineral, royalty, and over-riding royalty interests in oil and natural gas properties in North America. It owns interests covering approximately 256,000 gross unit acres in the Eagle Ford Shale and Austin Chalk in Karnes, DeWitt, and Gonzales Counties in Texas, as well as approximately 68,000 gross unit acres in Pennsylvania, Ohio, and West Virginia that is prospective for the Marcellus Shale.
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