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2022-12-25 14:52
Brigham Minerals, Inc. (NYSE:MNRL – Get Rating)'s share price gapped up prior to trading on Friday . The stock had previously closed at $31.99, but opened at $33.49. Brigham Minerals shares last traded at $32.41, with a volume of 2,098 shares.
A number of brokerages have recently commented on MNRL. Piper Sandler cut Brigham Minerals from an "overweight" rating to a "neutral" rating and lifted their target price for the stock from $34.00 to $36.00 in a report on Thursday, November 17th. KeyCorp began coverage on Brigham Minerals in a report on Monday, September 19th. They issued a "sector weight" rating for the company. Barclays lifted their target price on Brigham Minerals from $35.00 to $36.00 and gave the stock an "overweight" rating in a report on Wednesday, October 19th. Raymond James decreased their price target on Brigham Minerals from $49.00 to $44.00 and set a "strong-buy" rating for the company in a research note on Monday, October 24th. Finally, Stifel Nicolaus lowered Brigham Minerals from a "buy" rating to a "hold" rating and decreased their price target for the stock from $31.00 to $27.00 in a research note on Tuesday, October 25th. Four 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 company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.50.
Get Brigham Minerals alerts:The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $2.01 billion, a P/E ratio of 13.64 and a beta of 1.88. The stock has a 50 day moving average of $33.17 and a 200-day moving average of $29.19.
In other Brigham Minerals news, CEO Robert M. Roosa sold 6,250 shares of Brigham Minerals stock in a transaction on Monday, December 5th. The stock was sold at an average price of $35.75, for a total transaction of $223,437.50. Following the completion of the sale, the chief executive officer now directly owns 394,465 shares of the company's stock, valued at approximately $14,102,123.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 3.92% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the stock. One Plus One Wealth Management LLC raised its position in shares of Brigham Minerals by 13.7% in the 2nd quarter. One Plus One Wealth Management LLC now owns 9,720 shares of the company's stock worth $239,000 after acquiring an additional 1,168 shares in the last quarter. Swiss National Bank raised its position in shares of Brigham Minerals by 7.3% in the 1st quarter. Swiss National Bank now owns 106,900 shares of the company's stock worth $2,731,000 after acquiring an additional 7,300 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Brigham Minerals in the 2nd quarter worth $701,000. Meridian Wealth Advisors LLC raised its position in shares of Brigham Minerals by 54.0% in the 2nd quarter. Meridian Wealth Advisors LLC now owns 60,277 shares of the company's stock worth $1,485,000 after acquiring an additional 21,127 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Brigham Minerals by 25.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 21,527 shares of the company's stock worth $550,000 after acquiring an additional 4,428 shares in the last quarter. 76.33% of the stock is owned by institutional investors.
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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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