Insider Buying: Brigham Minerals Inc (NYSE:MNRL) Chairman Acquires 22,000 Shares of Stock

Brigham Minerals Inc (NYSE:MNRL) Chairman Ben M. Brigham purchased 22,000 shares of Brigham Minerals stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average price of $8.90 per share, for a total transaction of $195,800.00. The transaction was disclosed in a filing with the SEC, which is available through this link.

Shares of NYSE MNRL traded up $0.65 during midday trading on Wednesday, hitting $9.37. The stock had a trading volume of 629,644 shares, compared to its average volume of 504,493. The business’s 50 day moving average is $11.20 and its 200-day moving average is $11.75. The company has a market cap of $533.25 million, a P/E ratio of 25.86 and a beta of 2.45. Brigham Minerals Inc has a 52 week low of $5.86 and a 52 week high of $23.12.

Brigham Minerals (NYSE:MNRL) last issued its earnings results on Wednesday, August 12th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.07). The firm had revenue of $12.61 million during the quarter, compared to the consensus estimate of $12.88 million. Brigham Minerals had a return on equity of 2.51% and a net margin of 8.57%. Sell-side analysts expect that Brigham Minerals Inc will post 0.17 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 3rd. Stockholders of record on Thursday, August 27th were paid a $0.14 dividend. The ex-dividend date was Wednesday, August 26th. This represents a $0.56 annualized dividend and a dividend yield of 5.98%. Brigham Minerals’s dividend payout ratio is presently 98.25%.

Several research firms recently commented on MNRL. Wells Fargo & Company reissued an “overweight” rating and set a $13.00 price objective on shares of Brigham Minerals in a research note on Monday, June 15th. UBS Group boosted their price objective on shares of Brigham Minerals from $14.00 to $15.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. Zacks Investment Research raised shares of Brigham Minerals from a “sell” rating to a “hold” rating in a research note on Wednesday, July 15th. SunTrust Banks dropped their price objective on shares of Brigham Minerals from $16.00 to $15.00 and set a “buy” rating on the stock in a research note on Tuesday, July 28th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $18.00 price objective on shares of Brigham Minerals in a research note on Sunday, July 26th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $14.00.

Several hedge funds and other institutional investors have recently modified their holdings of MNRL. Advisor Group Holdings Inc. bought a new position in shares of Brigham Minerals in the first quarter worth approximately $38,000. UBS Group AG lifted its position in Brigham Minerals by 6,351.6% during the second quarter. UBS Group AG now owns 4,000 shares of the company’s stock valued at $49,000 after purchasing an additional 3,938 shares during the period. Bank of Montreal Can lifted its position in Brigham Minerals by 79.8% during the second quarter. Bank of Montreal Can now owns 4,735 shares of the company’s stock valued at $53,000 after purchasing an additional 2,102 shares during the period. Meeder Asset Management Inc. lifted its position in Brigham Minerals by 117.0% during the first quarter. Meeder Asset Management Inc. now owns 6,980 shares of the company’s stock valued at $58,000 after purchasing an additional 3,763 shares during the period. Finally, US Bancorp DE lifted its position in Brigham Minerals by 32.0% during the first quarter. US Bancorp DE now owns 7,155 shares of the company’s stock valued at $59,000 after purchasing an additional 1,735 shares during the period. Hedge funds and other institutional investors own 70.81% of the company’s stock.

Brigham Minerals Company Profile

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 Permian Basin in West Texas and New Mexico; the SCOOP/STACK 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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