Falcon Minerals (FLMN) Announces Quarterly Earnings Results

Falcon Minerals (NASDAQ:FLMN) released its earnings results on Friday. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.14), Zacks reports. The business had revenue of $24.28 million during the quarter, compared to the consensus estimate of $29.70 million.

Shares of FLMN traded down $0.25 during midday trading on Friday, hitting $9.00. The company had a trading volume of 417,309 shares, compared to its average volume of 141,763. Falcon Minerals has a 1 year low of $7.40 and a 1 year high of $11.70.

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

In related news, CFO Jeffrey F. Brotman acquired 25,000 shares of the firm’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 transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Edward E. Cohen acquired 750,000 shares of the firm’s stock in a transaction dated Thursday, August 23rd. The stock was bought at an average price of $10.00 per share, with a total value of $7,500,000.00. The disclosure for this purchase can be found here. Insiders bought a total of 805,000 shares of company stock valued at $8,050,000 in the last quarter.

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

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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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