Falcon Minerals Corp (NASDAQ:FLMN)’s share price traded up 5.4% during mid-day trading on Wednesday . The stock traded as high as $7.18 and last traded at $7.03, 469,480 shares were traded during trading. An increase of 131% from the average session volume of 203,237 shares. The stock had previously closed at $6.67.
A number of equities analysts recently commented on the stock. Stifel Nicolaus upgraded shares of Falcon Minerals from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Wednesday, May 29th. Robert W. Baird assumed coverage on Falcon Minerals in a research note on Thursday, May 23rd. They issued an “outperform” rating and a $7.35 price target on the stock. SunTrust Banks assumed coverage on Falcon Minerals in a report on Monday, June 17th. They set a “buy” rating and a $11.00 price target for the company. Citigroup set a $8.00 price target on Falcon Minerals and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, Capital One Financial began coverage on Falcon Minerals in a research report on Friday, May 31st. They set an “overweight” rating and a $10.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $9.89.
The company has a current ratio of 9.25, a quick ratio of 9.25 and a debt-to-equity ratio of 0.14. The firm’s fifty day moving average price is $6.60 and its 200-day moving average price is $7.80. The firm has a market cap of $573.55 million, a price-to-earnings ratio of 35.15 and a beta of 0.47.
Falcon Minerals (NASDAQ:FLMN) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.08 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.04). Falcon Minerals had a return on equity of 10.79% and a net margin of 31.57%. The company had revenue of $18.25 million for the quarter, compared to analyst estimates of $20.88 million. On average, sell-side analysts expect that Falcon Minerals Corp will post 0.44 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Monday, August 26th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 8.53%. The ex-dividend date of this dividend was Friday, August 23rd. Falcon Minerals’s payout ratio is 300.00%.
In other news, Director Al J. Hirshberg bought 50,000 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were acquired at an average price of $4.49 per share, for a total transaction of $224,500.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 15.80% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of Montreal Can purchased a new position in Falcon Minerals during the 2nd quarter worth approximately $27,000. Tower Research Capital LLC TRC purchased a new stake in Falcon Minerals in the second quarter valued at approximately $35,000. Arlington Partners LLC purchased a new stake in Falcon Minerals in the second quarter valued at approximately $71,000. Strs Ohio acquired a new stake in shares of Falcon Minerals in the second quarter valued at approximately $86,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of Falcon Minerals in the second quarter valued at approximately $99,000. 38.97% of the stock is owned by hedge funds and other institutional investors.
About Falcon Minerals (NASDAQ:FLMN)
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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