Equities research analysts predict that Brigham Minerals, Inc. (NYSE:MNRL) will post $49.39 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for Brigham Minerals’ earnings, with the lowest sales estimate coming in at $48.30 million and the highest estimate coming in at $50.00 million. Brigham Minerals reported sales of $23.76 million in the same quarter last year, which indicates a positive year over year growth rate of 107.9%. The company is scheduled to issue its next quarterly earnings results on Wednesday, February 23rd.
On average, analysts expect that Brigham Minerals will report full-year sales of $162.73 million for the current year, with estimates ranging from $161.80 million to $163.39 million. For the next financial year, analysts forecast that the business will report sales of $203.05 million, with estimates ranging from $193.15 million to $221.00 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Brigham Minerals.
Brigham Minerals (NYSE:MNRL) last released its quarterly earnings results on Wednesday, November 3rd. The company reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. The business had revenue of $41.96 million during the quarter, compared to the consensus estimate of $40.50 million. Brigham Minerals had a net margin of 0.29% and a return on equity of 5.94%. During the same quarter last year, the company earned $0.06 earnings per share.
Brigham Minerals stock traded down $0.22 during mid-day trading on Friday, reaching $20.12. The company’s stock had a trading volume of 649,187 shares, compared to its average volume of 229,629. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of -182.89 and a beta of 2.32. The business has a 50 day moving average price of $21.86 and a 200-day moving average price of $20.26. The company has a current ratio of 5.34, a quick ratio of 5.34 and a debt-to-equity ratio of 0.08. Brigham Minerals has a twelve month low of $10.69 and a twelve month high of $25.49.
The business also recently announced a quarterly dividend, which was paid on Wednesday, December 1st. Shareholders of record on Wednesday, November 24th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 7.95%. This is a boost from Brigham Minerals’s previous quarterly dividend of $0.35. The ex-dividend date was Tuesday, November 23rd. Brigham Minerals’s dividend payout ratio (DPR) is presently -1,454.41%.
In related news, Director W Howard Keenan, Jr. sold 16,553 shares of Brigham Minerals stock in a transaction dated Monday, November 22nd. The stock was sold at an average price of $22.10, for a total transaction of $365,821.30. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director W Howard Keenan, Jr. sold 45,419 shares of Brigham Minerals stock in a transaction dated Wednesday, November 24th. The stock was sold at an average price of $22.30, for a total value of $1,012,843.70. The disclosure for this sale can be found here. Insiders sold 92,224 shares of company stock worth $2,083,964 over the last quarter. 3.70% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Epoch Investment Partners Inc. purchased a new position in Brigham Minerals in the 3rd quarter worth about $13,194,000. FMR LLC increased its stake in Brigham Minerals by 11.6% in the 2nd quarter. FMR LLC now owns 5,907,487 shares of the company’s stock worth $125,770,000 after purchasing an additional 612,887 shares in the last quarter. Lakewood Capital Management LP purchased a new position in Brigham Minerals in the 2nd quarter worth about $5,887,000. Dimensional Fund Advisors LP increased its stake in Brigham Minerals by 875.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 214,132 shares of the company’s stock worth $4,103,000 after purchasing an additional 192,184 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Brigham Minerals by 10.8% in the 3rd quarter. Wellington Management Group LLP now owns 1,909,318 shares of the company’s stock worth $36,583,000 after purchasing an additional 186,202 shares in the last quarter. 68.19% of the stock is currently owned by hedge funds and other institutional investors.
Brigham Minerals Company Profile
Brigham Minerals, Inc engages in the acquisition and managing a a portfolio of mineral and royalty interests. Its portfolio include basins in the United States, which comprises Permian Basin in Texas and New Mexico; the SCOOP and STACK plays in the Anadarko Basin of Oklahoma; the DJ Basin in Colorado; and Wyoming and the Williston Basin in North Dakota.
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