Royal Bank of Canada began coverage on shares of Falcon Minerals (NASDAQ:FLMN) in a research report sent to investors on Thursday, BenzingaRatingsTable reports. The brokerage issued a sector perform rating and a $10.00 target price on the stock.
Several other research analysts have also recently issued reports on FLMN. Zacks Investment Research cut Falcon Minerals from a hold rating to a sell rating in a research report on Wednesday, December 19th. Northland Securities set a $10.00 price objective on Falcon Minerals and gave the stock a buy rating in a research report on Friday, February 8th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Falcon Minerals currently has an average rating of Buy and an average price target of $10.25.
FLMN opened at $9.05 on Thursday. Falcon Minerals has a 12 month low of $6.71 and a 12 month high of $11.70. The company has a current ratio of 38.60, a quick ratio of 38.60 and a debt-to-equity ratio of 0.08.
Falcon Minerals (NASDAQ:FLMN) last released its earnings results on Tuesday, February 26th. The company reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.02. The company had revenue of $26.30 million for the quarter, compared to analyst estimates of $22.90 million. On average, equities analysts expect that Falcon Minerals will post 0.44 EPS for the current fiscal year.
In other Falcon Minerals news, major shareholder Hite Hedge Asset Management Ll acquired 54,130 shares of the stock in a transaction dated Wednesday, February 6th. The stock was acquired at an average cost of $8.23 per share, with a total value of $445,489.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 8.60% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN purchased a new position in shares of Falcon Minerals during the third quarter worth approximately $227,000. Tower Research Capital LLC TRC purchased a new position in shares of Falcon Minerals during the third quarter worth approximately $224,000. Man Group plc purchased a new position in shares of Falcon Minerals during the third quarter worth approximately $288,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of Falcon Minerals during the third quarter worth approximately $3,847,000. Finally, Vanguard Group Inc. purchased a new position in shares of Falcon Minerals during the third quarter worth approximately $10,156,000. 64.70% of the stock is owned by hedge funds and other institutional investors.
About Falcon Minerals
Falcon Minerals Corporation acquires and owns mineral, royalty, and over-riding royalty interests in oil and natural gas properties in North America. It owns interests covering approximately 256,000 gross unit acres in the Eagle Ford Shale and Austin Chalk in Karnes, DeWitt, and Gonzales Counties in Texas, as well as approximately 68,000 gross unit acres in Pennsylvania, Ohio, and West Virginia that is prospective for the Marcellus Shale.
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