Falcon Minerals Corp (FLMN) Short Interest Update

Falcon Minerals Corp (NASDAQ:FLMN) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 386,975 shares, a drop of 37.1% from the January 15th total of 614,826 shares. Based on an average daily volume of 176,903 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.0% of the company’s stock are short sold.

A number of brokerages have recently issued reports on FLMN. Zacks Investment Research upgraded shares of Falcon Minerals from a “sell” rating to a “hold” rating in a research report on Wednesday, January 9th. ValuEngine lowered shares of Falcon Minerals from a “hold” rating to a “sell” rating in a research report on Friday, November 2nd. Credit Suisse Group began coverage on shares of Falcon Minerals in a research report on Friday, December 7th. They set an “outperform” rating and a $11.00 target price on the stock. Northland Securities set a $10.00 target price on shares of Falcon Minerals and gave the stock a “buy” rating in a research report on Friday, February 8th. Finally, Citigroup began coverage on shares of Falcon Minerals in a research report on Thursday, November 29th. They set a “buy” rating and a $11.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.19.

Shares of FLMN opened at $7.30 on Thursday. 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 has a 12-month low of $6.71 and a 12-month high of $11.70.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 28th. Stockholders of record on Thursday, February 21st will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, February 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 10.96%.

In other Falcon Minerals news, Director Brian L. Frank bought 15,000 shares of the stock in a transaction dated Wednesday, December 12th. The shares were acquired at an average cost of $7.72 per share, for a total transaction of $115,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Hite Hedge Asset Management Ll bought 1,019,285 shares of the stock in a transaction dated Thursday, December 27th. The shares were acquired at an average price of $7.26 per share, for a total transaction of $7,400,009.10. The disclosure for this purchase can be found here. In the last three months, insiders have acquired 1,147,870 shares of company stock worth $8,451,208. 8.60% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in FLMN. Deprince Race & Zollo Inc. grew its position in Falcon Minerals by 36.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 20,500 shares of the company’s stock valued at $174,000 after buying an additional 5,500 shares during the last quarter. Hodges Capital Management Inc. purchased a new position in Falcon Minerals in the 4th quarter valued at $140,000. Tower Research Capital LLC TRC purchased a new position in Falcon Minerals in the 3rd quarter valued at $224,000. Wells Fargo & Company MN purchased a new position in Falcon Minerals in the 3rd quarter valued at $227,000. Finally, Bluefin Trading LLC purchased a new position in Falcon Minerals in the 3rd quarter valued at $232,000. Institutional investors and hedge funds own 70.50% of the company’s stock.

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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.

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