Brigham Minerals (NYSE:MNRL) Issues Quarterly Earnings Results, Beats Expectations By $0.08 EPS

Brigham Minerals (NYSE:MNRLGet Rating) issued its quarterly earnings results on Thursday. The company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.70 by $0.08, Briefing.com reports. The company had revenue of $90.88 million during the quarter, compared to analyst estimates of $81.38 million. Brigham Minerals had a net margin of 41.17% and a return on equity of 14.84%. The firm’s revenue was up 27.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.25 EPS.

Brigham Minerals Stock Up 3.3 %

Brigham Minerals stock traded up $0.83 during mid-day trading on Friday, hitting $26.31. The company had a trading volume of 483,760 shares, compared to its average volume of 493,022. The stock has a market cap of $1.59 billion, a price-to-earnings ratio of 12.77 and a beta of 1.89. Brigham Minerals has a 1 year low of $16.51 and a 1 year high of $33.64. The company has a quick ratio of 3.55, a current ratio of 3.55 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $26.86 and a 200 day moving average of $25.57.

Brigham Minerals Increases Dividend

The business also recently declared a None dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 19th will be paid a $0.77 dividend. This is a positive change from Brigham Minerals’s previous None dividend of $0.60. The ex-dividend date of this dividend is Thursday, August 18th. Brigham Minerals’s dividend payout ratio is currently 31.07%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company upped their price objective on shares of Brigham Minerals from $29.00 to $30.00 and gave the company an “equal weight” rating in a report on Monday, May 23rd. Raymond James increased their price target on shares of Brigham Minerals from $41.00 to $44.00 in a research report on Tuesday, May 24th. Barclays increased their price target on shares of Brigham Minerals from $29.00 to $38.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 14th. Piper Sandler reduced their price target on shares of Brigham Minerals from $32.00 to $31.00 and set an “overweight” rating on the stock in a research report on Friday, July 22nd. Finally, TheStreet raised shares of Brigham Minerals from a “c+” rating to a “b” rating in a research report on Monday, April 18th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $34.20.

Insider Buying and Selling at Brigham Minerals

In other Brigham Minerals news, Director Pbra, Llc sold 389,626 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $29.37, for a total value of $11,443,315.62. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Brigham Minerals news, Director Pbra, Llc sold 389,626 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $29.37, for a total value of $11,443,315.62. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Robert M. Roosa sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $31.94, for a total transaction of $199,625.00. Following the transaction, the chief executive officer now owns 406,965 shares in the company, valued at $12,998,462.10. The disclosure for this sale can be found here. Insiders have sold 826,002 shares of company stock worth $24,653,275 over the last three months. Insiders own 3.92% of the company’s stock.

Institutional Investors Weigh In On Brigham Minerals

Several hedge funds have recently modified their holdings of MNRL. Point72 Hong Kong Ltd acquired a new stake in Brigham Minerals in the first quarter valued at $41,000. Great West Life Assurance Co. Can lifted its holdings in Brigham Minerals by 58.3% in 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 period. Advisor Group Holdings Inc. lifted its holdings in Brigham Minerals by 20.2% in the first quarter. Advisor Group Holdings Inc. now owns 3,319 shares of the company’s stock valued at $84,000 after acquiring an additional 557 shares during the period. Bridgefront Capital LLC acquired a new stake in Brigham Minerals in the first quarter valued at $235,000. Finally, Prudential Financial Inc. lifted its holdings in Brigham Minerals by 16.0% in the first quarter. Prudential Financial Inc. now owns 10,810 shares of the company’s stock valued at $276,000 after acquiring an additional 1,490 shares during the period. 68.81% of the stock is owned by institutional investors and hedge funds.

Brigham Minerals Company Profile

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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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Earnings History for Brigham Minerals (NYSE:MNRL)

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