Falcon Minerals (NASDAQ:FLMN) Announces Earnings Results

Falcon Minerals (NASDAQ:FLMN) issued its quarterly earnings results on Thursday. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02), Fidelity Earnings reports. Falcon Minerals had a net margin of 31.57% and a return on equity of 10.79%. The company had revenue of $15.91 million during the quarter, compared to the consensus estimate of $16.30 million.

Shares of NASDAQ:FLMN traded up $0.01 during midday trading on Friday, reaching $6.39. 229,400 shares of the company’s stock were exchanged, compared to its average volume of 210,448. The company has a debt-to-equity ratio of 0.14, a quick ratio of 9.25 and a current ratio of 9.25. The firm has a market capitalization of $552.95 million, a PE ratio of 31.95 and a beta of 0.49. Falcon Minerals has a 12 month low of $5.31 and a 12 month high of $9.53. The company’s 50 day simple moving average is $6.17 and its two-hundred day simple moving average is $7.14.

FLMN has been the subject of a number of research reports. Zacks Investment Research raised shares of Falcon Minerals from a “sell” rating to a “hold” rating in a report on Thursday, October 31st. Citigroup set a $8.00 price objective on shares of Falcon Minerals and gave the stock a “buy” rating in a report on Monday, August 12th. Wells Fargo & Co began coverage on shares of Falcon Minerals in a report on Friday, October 4th. They set a “market perform” rating for the company. Finally, ValuEngine raised shares of Falcon Minerals from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $9.89.

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In other news, major shareholder Hite Hedge Asset Management Ll sold 28,642 shares of Falcon Minerals stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $6.51, for a total transaction of $186,459.42. In the last quarter, insiders have sold 322,669 shares of company stock valued at $2,176,423. 15.80% of the stock is owned by corporate insiders.

Falcon Minerals Company Profile

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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Earnings History for Falcon Minerals (NASDAQ:FLMN)

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