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.

Analyst Upgrades and Downgrades

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

Brigham Minerals Stock Performance

NYSE:MNRL opened at $28.92 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.05 and a quick ratio of 5.05. The firm has a 50-day moving average of $26.50 and a two-hundred day moving average of $25.89. The stock has a market cap of $1.75 billion, a P/E ratio of 14.04 and a beta of 1.90. Brigham Minerals has a 1-year low of $16.51 and a 1-year high of $33.64.

Brigham Minerals (NYSE:MNRL - Get Rating) last posted its quarterly earnings data 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 net margin of 41.17% and a return on equity of 14.52%. The company had revenue of $90.88 million during the quarter, compared to analysts' expectations of $81.38 million. During the same period in the prior year, the company posted $0.25 EPS. The firm's revenue for the quarter was up 27.2% on a year-over-year basis. On average, research analysts expect that Brigham Minerals will post 2.56 earnings per share for the current fiscal year.

Brigham Minerals Increases Dividend

The business also recently declared a None dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 19th will be given a dividend of $0.77 per share. This is a boost from Brigham Minerals's previous None dividend of $0.60. The ex-dividend date of this dividend is Thursday, August 18th. This represents a dividend yield of 2.2%. Brigham Minerals's dividend payout ratio (DPR) is presently 31.07%.

Insider Transactions at Brigham Minerals

In other news, Director Pbra, Llc sold 389,626 shares of the stock in a transaction dated Thursday, May 26th. The shares were sold at an average price of $29.37, for a total transaction of $11,443,315.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Robert M. Roosa sold 6,250 shares of the stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $31.94, for a total transaction of $199,625.00. Following the sale, the chief executive officer now owns 406,965 shares in the company, valued at $12,998,462.10. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Pbra, Llc sold 389,626 shares of the stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $29.37, for a total transaction of $11,443,315.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 826,002 shares of company stock valued at $24,653,275. Insiders own 3.92% of the company's stock.