Brigham Minerals (NYSE:MNRL) Issues Earnings Results, Misses Expectations By $0.05 EPS

Brigham Minerals (NYSE:MNRL) announced its quarterly earnings data on Thursday. The company reported $0.14 EPS for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.05), Fidelity Earnings reports. The company had revenue of $25.11 million for the quarter, compared to analysts’ expectations of $25.50 million.

Shares of MNRL stock traded up $1.30 during midday trading on Friday, reaching $19.70. 665,559 shares of the company traded hands, compared to its average volume of 214,971. The business’s 50 day moving average price is $19.87. Brigham Minerals has a 1-year low of $18.10 and a 1-year high of $23.29.

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MNRL has been the subject of a number of recent analyst reports. Wells Fargo & Co reduced their price objective on shares of Brigham Minerals from $24.00 to $22.00 and set an “outperform” rating for the company in a research report on Tuesday, October 15th. Zacks Investment Research upgraded shares of Brigham Minerals from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, Capital One Financial assumed coverage on shares of Brigham Minerals in a research report on Friday, October 18th. They set an “overweight” rating and a $23.00 price target for the company. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $25.08.

About Brigham Minerals

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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