First Dallas Securities Inc. Sells 6,000 Shares of Falcon Minerals Corp (NASDAQ:FLMN)

First Dallas Securities Inc. decreased its stake in Falcon Minerals Corp (NASDAQ:FLMN) by 18.8% in the 2nd quarter, Holdings reports. The firm owned 26,000 shares of the company’s stock after selling 6,000 shares during the quarter. First Dallas Securities Inc.’s holdings in Falcon Minerals were worth $218,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can bought a new position in shares of Falcon Minerals during the second quarter valued at $27,000. Tower Research Capital LLC TRC bought a new position in shares of Falcon Minerals during the second quarter valued at $35,000. Arlington Partners LLC bought a new position in shares of Falcon Minerals during the second quarter valued at $71,000. Strs Ohio acquired a new stake in shares of Falcon Minerals during the second quarter worth $86,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Falcon Minerals during the second quarter worth $99,000. 38.97% of the stock is owned by hedge funds and other institutional investors.

Shares of FLMN traded down $0.09 during trading hours on Tuesday, hitting $5.66. 605 shares of the stock were exchanged, compared to its average volume of 212,036. Falcon Minerals Corp has a fifty-two week low of $5.73 and a fifty-two week high of $11.55. The company has a debt-to-equity ratio of 0.14, a current ratio of 9.25 and a quick ratio of 9.25. The business has a 50-day moving average of $6.29 and a 200-day moving average of $7.68. The firm has a market capitalization of $496.27 million, a P/E ratio of 28.30 and a beta of 0.48.

Falcon Minerals (NASDAQ:FLMN) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.08 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.04). The company had revenue of $18.25 million during the quarter, compared to analyst estimates of $20.88 million. Falcon Minerals had a return on equity of 10.79% and a net margin of 31.57%. As a group, analysts forecast that Falcon Minerals Corp will post 0.4 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, August 26th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 10.60%. The ex-dividend date was Friday, August 23rd. Falcon Minerals’s payout ratio is 300.00%.

Several equities research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Falcon Minerals from a “hold” rating to a “sell” rating in a research report on Monday, September 23rd. Citigroup set a $8.00 price objective on shares of Falcon Minerals and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, SunTrust Banks assumed coverage on shares of Falcon Minerals in a research report on Monday, June 17th. They set a “buy” rating and a $11.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. Falcon Minerals presently has a consensus rating of “Buy” and a consensus price target of $9.89.

In other Falcon Minerals news, major shareholder Hite Hedge Asset Management Ll sold 176,400 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $7.04, for a total value of $1,241,856.00. Also, Director Al J. Hirshberg purchased 50,000 shares of Falcon Minerals stock in a transaction on Thursday, August 8th. The stock was bought at an average price of $4.49 per share, with a total value of $224,500.00. The disclosure for this purchase can be found here. Company insiders own 15.80% of the company’s stock.

Falcon Minerals Profile

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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Institutional Ownership by Quarter for Falcon Minerals (NASDAQ:FLMN)

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