Falcon Minerals (NASDAQ:FLMN) Hits New 1-Year Low at $5.43

Falcon Minerals Corp (NASDAQ:FLMN)’s share price hit a new 52-week low on Wednesday . The stock traded as low as $5.43 and last traded at $5.43, with a volume of 5006 shares. The stock had previously closed at $5.50.

FLMN has been the topic of several recent research reports. Citigroup set a $8.00 target price on Falcon Minerals and gave the stock a “buy” rating in a report on Monday, August 12th. SunTrust Banks initiated coverage on Falcon Minerals in a report on Monday, June 17th. They set a “buy” rating and a $11.00 target price on the stock. Finally, Zacks Investment Research cut Falcon Minerals from a “hold” rating to a “sell” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $9.89.

The firm has a market capitalization of $515.17 million, a price-to-earnings ratio of 27.65 and a beta of 0.48. The company has a fifty day moving average price of $6.27 and a two-hundred day moving average price of $7.67. The company has a current ratio of 9.25, a quick ratio of 9.25 and a debt-to-equity ratio of 0.14.

Falcon Minerals (NASDAQ:FLMN) last issued its earnings results on Monday, August 5th. The company reported $0.08 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.04). Falcon Minerals had a return on equity of 10.79% and a net margin of 31.57%. The company had revenue of $18.25 million for the quarter, compared to analyst estimates of $20.88 million. As a group, equities research analysts expect that Falcon Minerals Corp will post 0.4 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Investors of record on Monday, August 26th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 10.85%. The ex-dividend date was Friday, August 23rd. Falcon Minerals’s dividend payout ratio is presently 300.00%.

In related news, major shareholder Hite Hedge Asset Management Ll sold 176,400 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $7.04, for a total value of $1,241,856.00. Also, Director Al J. Hirshberg acquired 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was acquired at an average price of $4.49 per share, for a total transaction of $224,500.00. The disclosure for this purchase can be found here. Corporate insiders own 15.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in FLMN. Bank of Montreal Can purchased a new stake in shares of Falcon Minerals during the second quarter worth $27,000. Tower Research Capital LLC TRC purchased a new stake in shares of Falcon Minerals during the second quarter worth $35,000. Arlington Partners LLC purchased a new stake in shares of Falcon Minerals during the second quarter worth $71,000. Strs Ohio purchased a new stake in shares of Falcon Minerals during the second quarter worth $86,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Falcon Minerals during the second quarter worth $99,000. 38.97% of the stock is currently owned by institutional investors.

About Falcon Minerals (NASDAQ:FLMN)

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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