Falcon Minerals (FLMN) Issues Earnings Results

Falcon Minerals (NASDAQ:FLMN) announced its quarterly earnings data on Friday. The company reported $0.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.14), Zacks reports. The firm had revenue of $24.28 million during the quarter, compared to analyst estimates of $29.70 million.

Shares of Falcon Minerals stock traded down $0.25 during trading on Friday, hitting $9.00. The stock had a trading volume of 417,309 shares, compared to its average volume of 141,763. Falcon Minerals has a fifty-two week low of $7.40 and a fifty-two week high of $11.70.

The company also recently disclosed a special dividend, which will be paid on Thursday, November 15th. Stockholders of record on Thursday, November 8th will be issued a $0.095 dividend. The ex-dividend date is Wednesday, November 7th.

In other news, CFO Jeffrey F. Brotman acquired 25,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was acquired at an average price of $10.00 per share, for a total transaction of $250,000.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven R. Jones acquired 30,000 shares of the business’s stock in a transaction dated Thursday, August 23rd. The stock was purchased at an average price of $10.00 per share, with a total value of $300,000.00. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 805,000 shares of company stock valued at $8,050,000.

Several analysts have recently weighed in on FLMN shares. Northland Securities started coverage on Falcon Minerals in a report on Wednesday, September 26th. They issued an “outperform” rating and a $13.00 price objective for the company. ValuEngine lowered Falcon Minerals from a “hold” rating to a “sell” rating in a report on Friday, November 2nd.

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About Falcon Minerals

Falcon Minerals Corporation acquires, owns, maintains, and manages mineral interests, mineral royalties, and overriding royalties relating to onshore unconventional shale oil and natural gas properties in the United States; and any associated interests and royalties relating to conventional oil and natural gas properties.

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