Bank of New York Mellon Corp bought a new stake in Falcon Minerals Corp (NASDAQ:FLMN) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 25,640 shares of the company’s stock, valued at approximately $218,000.
A number of other large investors have also recently modified their holdings of FLMN. HITE Hedge Asset Management LLC raised its holdings in Falcon Minerals by 52.8% in the fourth quarter. HITE Hedge Asset Management LLC now owns 6,429,479 shares of the company’s stock valued at $54,651,000 after acquiring an additional 2,220,598 shares in the last quarter. Vanguard Group Inc acquired a new stake in Falcon Minerals in the third quarter valued at approximately $10,156,000. Vanguard Group Inc. acquired a new stake in Falcon Minerals in the third quarter valued at approximately $10,156,000. Marshall Wace LLP acquired a new stake in Falcon Minerals in the third quarter valued at approximately $2,747,000. Finally, BlackRock Inc. acquired a new stake in Falcon Minerals in the fourth quarter valued at approximately $471,000. 64.64% of the stock is currently owned by hedge funds and other institutional investors.
FLMN stock opened at $8.15 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 38.60 and a current ratio of 38.60. Falcon Minerals Corp has a twelve month low of $6.71 and a twelve month high of $11.70. The company has a market cap of $423.95 million, a price-to-earnings ratio of 40.75 and a beta of -0.15.
Falcon Minerals (NASDAQ:FLMN) last released its quarterly earnings data on Monday, May 6th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The company had revenue of $21.26 million for the quarter, compared to analyst estimates of $20.49 million. As a group, analysts predict that Falcon Minerals Corp will post 0.47 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 29th. Shareholders of record on Friday, May 17th will be issued a dividend of $0.175 per share. The ex-dividend date is Thursday, May 16th. This represents a $0.70 dividend on an annualized basis and a yield of 8.59%. Falcon Minerals’s payout ratio is currently 400.00%.
Several analysts recently weighed in on FLMN shares. Zacks Investment Research raised shares of Falcon Minerals from a “sell” rating to a “hold” rating in a report on Wednesday, February 20th. Citigroup set a $10.00 target price on shares of Falcon Minerals and gave the company a “buy” rating in a report on Tuesday, April 2nd. Northland Securities set a $10.00 target price on shares of Falcon Minerals and gave the company a “buy” rating in a report on Friday, February 8th. ValuEngine cut shares of Falcon Minerals from a “hold” rating to a “sell” rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada initiated coverage on shares of Falcon Minerals in a report on Thursday, April 18th. They issued a “sector perform” rating and a $10.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company’s stock. Falcon Minerals currently has an average rating of “Buy” and a consensus price target of $10.36.
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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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