Brigham Minerals - MNRL Stock Forecast, Price & News

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. As of December 31, 2021, it had mineral and royalty interests in approximately 92,375 net royalty acres; and owned mineral and royalty interests in 8,595 gross productive horizontal wells, which consisted of 7,909 oil wells and 688 natural gas wells. The company was founded in 2012 and is headquartered in Austin, Texas.

Brigham Minerals Stock Performance

Shares of MNRL Stock opened at $27.72 on Wednesday. The company's 50-day simple moving average is $26.74 and its 200-day simple moving average is $25.66. Brigham Minerals has a one year low of $16.51 and a one year high of $33.64. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 13.46 and a beta of 1.90. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.55 and a current ratio of 3.55.

Brigham Minerals (NYSE:MNRL - Get Rating) last issued its quarterly earnings results on Thursday, August 4th. The company reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.08. Brigham Minerals had a return on equity of 14.84% and a net margin of 41.17%. The business had revenue of $90.88 million during the quarter, compared to the consensus estimate of $81.38 million. During the same period in the previous year, the business earned $0.25 EPS. The business's quarterly revenue was up 27.2% on a year-over-year basis. Equities analysts anticipate that Brigham Minerals will post 2.56 earnings per share for the current fiscal year.

Brigham Minerals Increases Dividend

The firm also recently announced a None dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 19th will be issued a $0.77 dividend. The ex-dividend date is Thursday, August 18th. This represents a yield of 2.2%. This is a boost from Brigham Minerals's previous None dividend of $0.60. Brigham Minerals's dividend payout ratio (DPR) is currently 31.07%.

Analysts Set New Price Targets

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

Insider Buying and Selling at Brigham Minerals

In other Brigham Minerals news, Director Pbra, Llc sold 41,503 shares of the firm's stock in a transaction on Thursday, June 23rd. The stock was sold at an average price of $25.21, for a total value of $1,046,290.63. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Brigham Minerals news, Director Pbra, Llc sold 41,503 shares of the firm's stock in a transaction that occurred on Thursday, June 23rd. The shares were sold at an average price of $25.21, for a total value of $1,046,290.63. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert M. Roosa sold 6,250 shares of the business'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 value of $199,625.00. Following the transaction, the chief executive officer now owns 406,965 shares of the company's stock, valued at $12,998,462.10. The disclosure for this sale can be found here. Insiders sold a total of 826,002 shares of company stock worth $24,653,275 over the last ninety days. Company insiders own 3.92% of the company's stock.