Brigham Minerals (NYSE:MNRL) Downgraded to Strong Sell at Zacks Investment Research

Zacks Investment Research cut shares of Brigham Minerals (NYSE:MNRL) from a hold rating to a strong sell rating in a research report report published on Wednesday morning, reports.

According to Zacks, “Brigham Minerals Inc. is a mineral acquisition company. It is focused on acquiring oil and gas mineral rights in unconventional, shale plays throughout the United States – including the Delaware and Midland Basins in Texas, the SCOOP and STACK plays in Oklahoma, the DJ Basin in Colorado and Wyoming, as well as the Bakken and Three Forks plays in North Dakota. Brigham Minerals Inc. is based in Austin, Texas. “

MNRL has been the subject of a number of other research reports. Raymond James reaffirmed a sell rating on shares of Inter Pipeline in a report on Tuesday, May 14th. Wells Fargo & Co lowered their target price on shares of Nevro from $75.00 to $70.00 and set an outperform rating for the company in a report on Monday, May 13th. Piper Jaffray Companies lifted their target price on shares of Boot Barn from $33.00 to $41.00 and gave the stock an overweight rating in a report on Monday, May 13th. UBS Group set a $15.00 target price on shares of Hain Celestial Group and gave the stock a sell rating in a report on Monday, May 13th. Finally, Seaport Global Securities reaffirmed a buy rating on shares of W&T Offshore in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $25.80.

MNRL opened at $20.15 on Wednesday. The stock’s fifty day simple moving average is $21.00. Brigham Minerals has a 52 week low of $18.61 and a 52 week high of $22.96.

In other news, Director Harold D. Carter purchased 40,000 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was bought at an average price of $18.00 per share, with a total value of $720,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Ben M. Brigham bought 111,110 shares of Brigham Minerals stock in a transaction that occurred on Tuesday, April 23rd. The stock was bought at an average cost of $18.00 per share, with a total value of $1,999,980.00. The disclosure for this purchase can be found here. Insiders bought a total of 206,665 shares of company stock valued at $3,719,970 in the last three months.

Brigham Minerals Company Profile

Brigham Minerals, Inc owns and operates a portfolio of mineral and royalty interests in the continental United States. The company primarily holds mineral and royalty interests in the Permian Basin in West Texas and New Mexico; the SCOOP/STACK plays in the Anadarko Basin of Oklahoma; the Denver-Julesburg Basin in Colorado; and Wyoming and the Williston Basin in North Dakota.

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