Morgan Stanley acquired a new position in shares of Brigham Minerals Inc (NYSE:MNRL) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 18,836 shares of the company’s stock, valued at approximately $405,000.
Several other hedge funds have also bought and sold shares of MNRL. US Bancorp DE bought a new position in shares of Brigham Minerals in the 2nd quarter worth $37,000. JPMorgan Chase & Co. acquired a new stake in shares of Brigham Minerals in the second quarter valued at about $93,000. Bank of Montreal Can acquired a new stake in shares of Brigham Minerals in the second quarter valued at about $97,000. Wells Fargo & Company MN acquired a new stake in shares of Brigham Minerals in the second quarter valued at about $152,000. Finally, Parametric Portfolio Associates LLC acquired a new stake in shares of Brigham Minerals in the second quarter valued at about $427,000. Institutional investors and hedge funds own 58.05% of the company’s stock.
A number of equities research analysts have weighed in on MNRL shares. Wells Fargo & Co lowered their price objective on Brigham Minerals from $24.00 to $22.00 and set an “outperform” rating for the company in a research note on Tuesday, October 15th. Zacks Investment Research upgraded Brigham Minerals from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Capital One Financial started coverage on Brigham Minerals in a research note on Friday, October 18th. They set an “overweight” rating and a $23.00 price objective for the company. One equities research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $25.08.
Brigham Minerals (NYSE:MNRL) last released its earnings results on Thursday, November 7th. The company reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.19 by ($0.05). The business had revenue of $25.11 million during the quarter, compared to the consensus estimate of $25.50 million. As a group, equities analysts anticipate that Brigham Minerals Inc will post 0.54 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Wednesday, November 20th will be issued a $0.33 dividend. This represents a $1.32 annualized dividend and a dividend yield of 6.70%. The ex-dividend date of this dividend is Tuesday, November 19th.
Brigham Minerals Company Profile
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 Permian Basin in West Texas and New Mexico; the SCOOP/STACK 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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