Falcon Minerals (NASDAQ:FLMN) released its earnings results on Thursday, November 7th. The company reported $0.06 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.02), Fidelity Earnings reports. The business had revenue of $15.91 million for the quarter, compared to the consensus estimate of $16.30 million. Falcon Minerals had a net margin of 22.83% and a return on equity of 7.16%.
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NASDAQ FLMN traded up $0.09 during trading hours on Friday, reaching $6.46. 2,794,300 shares of the company’s stock traded hands, compared to its average volume of 234,298. The firm has a market cap of $547.50 million, a PE ratio of 32.30 and a beta of 0.49. Falcon Minerals has a 52-week low of $5.31 and a 52-week high of $9.53. The firm has a 50-day simple moving average of $6.17 and a 200 day simple moving average of $7.07. The company has a debt-to-equity ratio of 0.15, a current ratio of 6.05 and a quick ratio of 9.25.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Wednesday, November 20th will be given a dividend of $0.135 per share. The ex-dividend date is Tuesday, November 19th. This represents a $0.54 dividend on an annualized basis and a yield of 8.36%. Falcon Minerals’s dividend payout ratio (DPR) is currently 300.00%.
A number of equities research analysts have issued reports on FLMN shares. Citigroup set a $8.00 price target on shares of Falcon Minerals and gave the stock a “buy” rating in a report on Monday, August 12th. ValuEngine raised shares of Falcon Minerals from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research lowered shares of Falcon Minerals from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Wells Fargo & Co started coverage on shares of Falcon Minerals in a report on Friday, October 4th. They issued a “market perform” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. Falcon Minerals has an average rating of “Buy” and an average price target of $9.89.
In other news, major shareholder Hite Hedge Asset Management Ll sold 28,642 shares of the firm’s 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. Insiders have sold a total of 322,669 shares of company stock worth $2,176,423 in the last ninety days. Corporate insiders own 15.80% of the company’s stock.
About Falcon Minerals
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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