Falcon Minerals (NASDAQ:FLMN – Get Rating) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Thursday, Zacks.com reports.
According to Zacks, “Falcon Minerals Corporation own and acquire oil-weighted minerals. The company owns mineral, royalty and over-riding royalty interests primarily in the Eagle Ford and Austin Chalk in Karnes County, DeWitt County and Gonzales County Texas. Falcon Minerals Corporation, formerly named Osprey Energy Acquisition Corp., is based in San Diego, California. “
A number of other brokerages have also weighed in on FLMN. Wells Fargo & Company upped their target price on Falcon Minerals from $5.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Friday, March 25th. Piper Sandler upped their target price on Falcon Minerals from $5.40 to $8.00 and gave the stock an “overweight” rating in a research report on Thursday, April 7th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $8.44.
Shares of Falcon Minerals stock traded down $0.15 on Thursday, reaching $6.79. 611,171 shares of the company’s stock were exchanged, compared to its average volume of 866,226. The company has a market capitalization of $586.99 million, a P/E ratio of 27.16 and a beta of 1.53. Falcon Minerals has a 52 week low of $4.24 and a 52 week high of $7.84. The firm’s 50-day moving average is $6.91 and its two-hundred day moving average is $5.81. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.34 and a current ratio of 2.34.
Falcon Minerals (NASDAQ:FLMN – Get Rating) last posted its quarterly earnings results on Monday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.08. The firm had revenue of $22.31 million for the quarter, compared to analysts’ expectations of $20.50 million. Falcon Minerals had a return on equity of 8.55% and a net margin of 17.26%. On average, analysts expect that Falcon Minerals will post 0.63 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its position in shares of Falcon Minerals by 11.9% during the 2nd quarter. Royal Bank of Canada now owns 24,128 shares of the company’s stock valued at $122,000 after purchasing an additional 2,564 shares during the last quarter. Invesco Ltd. increased its position in shares of Falcon Minerals by 6.2% during the 2nd quarter. Invesco Ltd. now owns 65,708 shares of the company’s stock valued at $334,000 after purchasing an additional 3,859 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Falcon Minerals during the 3rd quarter valued at $75,000. Advisor Group Holdings Inc. increased its position in shares of Falcon Minerals by 52.3% during the 3rd quarter. Advisor Group Holdings Inc. now owns 18,922 shares of the company’s stock valued at $89,000 after purchasing an additional 6,500 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Falcon Minerals by 31.9% during the 3rd quarter. Barclays PLC now owns 42,674 shares of the company’s stock valued at $201,000 after purchasing an additional 10,310 shares during the last quarter. 74.47% of the stock is owned by institutional investors and hedge funds.
Falcon Minerals Company Profile (Get Rating)
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 95,000 gross unit acres in the Marcellus Shale across Pennsylvania, Ohio, and West Virginia.
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