Falcon Minerals (FLMN) Receives New Coverage from Analysts at Credit Suisse Group

Credit Suisse Group assumed coverage on shares of Falcon Minerals (NASDAQ:FLMN) in a research report released on Friday, MarketBeat reports. The brokerage issued an outperform rating and a $11.00 price target on the stock.

FLMN has been the subject of several other research reports. Zacks Investment Research raised Falcon Minerals from a hold rating to a buy rating and set a $8.75 price objective for the company in a research note on Tuesday, November 27th. ValuEngine lowered Falcon Minerals from a hold rating to a sell rating in a research note on Friday, November 2nd. Northland Securities initiated coverage on Falcon Minerals in a research note on Wednesday, September 26th. They set an outperform rating and a $13.00 price objective for the company. Finally, Citigroup initiated coverage on Falcon Minerals in a research note on Thursday, November 29th. They set a buy rating and a $11.00 price target for the company. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Falcon Minerals currently has a consensus rating of Buy and an average price target of $10.94.

NASDAQ:FLMN traded up $0.18 during trading hours on Friday, hitting $7.56. 149,944 shares of the company’s stock traded hands, compared to its average volume of 152,453. Falcon Minerals has a 52 week low of $7.12 and a 52 week high of $11.70. The company has a debt-to-equity ratio of 0.14, a current ratio of 34.70 and a quick ratio of 34.70.

Falcon Minerals (NASDAQ:FLMN) last posted its quarterly earnings data on Friday, November 9th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.14). The company had revenue of $24.28 million during the quarter, compared to the consensus estimate of $29.70 million. Equities analysts predict that Falcon Minerals will post 0.6 earnings per share for the current fiscal year.

The company also recently declared a special dividend, which was paid on Thursday, November 15th. Shareholders of record on Thursday, November 8th were paid a dividend of $0.095 per share. The ex-dividend date was Wednesday, November 7th.

In other Falcon Minerals news, major shareholder Jana Partners Llc sold 944,703 shares of Falcon Minerals stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $11.40, for a total transaction of $10,769,614.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.60% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC bought a new stake in Falcon Minerals during the third quarter worth about $224,000. Wells Fargo & Company MN bought a new stake in Falcon Minerals during the third quarter worth about $227,000. Bluefin Trading LLC bought a new stake in Falcon Minerals during the third quarter worth about $232,000. Man Group plc bought a new stake in Falcon Minerals during the third quarter worth about $288,000. Finally, Engineers Gate Manager LP bought a new stake in Falcon Minerals during the third quarter worth about $572,000. 71.44% of the stock is owned by hedge funds and other institutional investors.

About Falcon Minerals

Falcon Minerals Corporation acquires, owns, maintains, and manages mineral interests, mineral royalties, and overriding royalties relating to onshore unconventional shale oil and natural gas properties in the United States; and any associated interests and royalties relating to conventional oil and natural gas properties.

Read More: Why is the ex-dividend date different from the record date?

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