Brigham Minerals (NYSE:MNRL) Lowered to Neutral at Piper Sandler

Piper Sandler cut shares of Brigham Minerals (NYSE:MNRLGet Rating) from an overweight rating to a neutral rating in a research note published on Thursday, The Fly reports. They currently have $36.00 price objective on the stock, up from their previous price objective of $34.00.

Several other equities research analysts have also commented on MNRL. Stifel Nicolaus lowered shares of Brigham Minerals from a buy rating to a hold rating and dropped their price objective for the stock from $31.00 to $27.00 in a research note on Tuesday, October 25th. KeyCorp began coverage on shares of Brigham Minerals in a research note on Monday, September 19th. They set a sector weight rating on the stock. Raymond James dropped their price objective on shares of Brigham Minerals from $49.00 to $44.00 and set a strong-buy rating on the stock in a research note on Monday, October 24th. Finally, Barclays lifted their target price on shares of Brigham Minerals from $35.00 to $36.00 and gave the stock an overweight rating in a report on Wednesday, October 19th. Four equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $33.50.

Brigham Minerals Trading Down 1.8 %

NYSE:MNRL opened at $34.05 on Thursday. Brigham Minerals has a one year low of $19.37 and a one year high of $36.49. The company has a debt-to-equity ratio of 0.10, a current ratio of 4.59 and a quick ratio of 4.59. The company’s 50-day simple moving average is $29.52 and its 200 day simple moving average is $28.20. The firm has a market capitalization of $2.06 billion, a P/E ratio of 13.95 and a beta of 1.86.

Brigham Minerals Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 18th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $0.64 annualized dividend and a dividend yield of 1.88%. Brigham Minerals’s payout ratio is 26.23%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Balyasny Asset Management LLC purchased a new stake in Brigham Minerals during the third quarter valued at approximately $571,000. CIBC Private Wealth Group LLC increased its holdings in Brigham Minerals by 4.2% during the third quarter. CIBC Private Wealth Group LLC now owns 1,433,747 shares of the company’s stock valued at $35,371,000 after buying an additional 57,228 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Brigham Minerals by 3.1% during the third quarter. Public Employees Retirement System of Ohio now owns 147,670 shares of the company’s stock valued at $3,643,000 after buying an additional 4,372 shares during the last quarter. Two Sigma Advisers LP increased its holdings in Brigham Minerals by 54.5% during the third quarter. Two Sigma Advisers LP now owns 204,200 shares of the company’s stock valued at $5,038,000 after buying an additional 72,000 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in Brigham Minerals by 19.9% during the third quarter. Two Sigma Investments LP now owns 283,986 shares of the company’s stock valued at $7,006,000 after buying an additional 47,153 shares during the last quarter. 78.20% of the stock is owned by hedge funds and other institutional investors.

About Brigham Minerals

(Get Rating)

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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