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2022-12-12 14:22
Brigham Minerals, Inc. (NYSE:MNRL – Get Rating) – Analysts at KeyCorp dropped their FY2022 earnings per share estimates for Brigham Minerals in a report issued on Wednesday, December 7th. KeyCorp analyst T. Rezvan now forecasts that the company will post earnings of $2.89 per share for the year, down from their previous estimate of $3.07. KeyCorp has a "Sector Weight" rating on the stock. The consensus estimate for Brigham Minerals' current full-year earnings is $2.80 per share. KeyCorp also issued estimates for Brigham Minerals' Q4 2022 earnings at $0.66 EPS, Q1 2023 earnings at $0.75 EPS, Q2 2023 earnings at $0.69 EPS, Q3 2023 earnings at $0.69 EPS, Q4 2023 earnings at $0.71 EPS and FY2023 earnings at $2.84 EPS.
Get Brigham Minerals alerts:Several other equities analysts have also recently issued reports on the company. Piper Sandler cut Brigham Minerals from an "overweight" rating to a "neutral" rating and lifted their price objective for the stock from $34.00 to $36.00 in a report on Thursday, November 17th. Raymond James reduced their price objective on Brigham Minerals from $49.00 to $44.00 and set a "strong-buy" rating for the company in a report on Monday, October 24th. Barclays lifted their price objective on Brigham Minerals from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Wednesday, October 19th. Finally, Stifel Nicolaus cut Brigham Minerals from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $31.00 to $27.00 in a report on Tuesday, October 25th. Four research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $33.50.
Institutional investors have recently added to or reduced their stakes in the business. Captrust Financial Advisors increased its stake in Brigham Minerals by 61.3% in the second quarter. Captrust Financial Advisors now owns 1,360 shares of the company's stock valued at $33,000 after purchasing an additional 517 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in Brigham Minerals in the first quarter valued at $41,000. Great West Life Assurance Co. Can acquired a new position in Brigham Minerals in the third quarter valued at $68,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Brigham Minerals in the third quarter valued at $82,000. Finally, Advisor Group Holdings Inc. increased its stake 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 purchasing an additional 557 shares during the last quarter. 78.20% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Robert M. Roosa sold 6,250 shares of the company's stock in a transaction on Monday, December 5th. The stock was sold at an average price of $35.75, for a total value of $223,437.50. Following the completion of the transaction, the chief executive officer now directly owns 394,465 shares in the company, valued at $14,102,123.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.92% of the company's stock.
The business also recently declared a quarterly dividend, which was paid on Friday, November 25th. Stockholders of record on Friday, November 18th were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, November 17th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.02%. Brigham Minerals's dividend payout ratio (DPR) is 26.23%.
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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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