Falcon Minerals Co. (NASDAQ:FLMN) was the recipient of a significant decrease in short interest in September. As of September 15th, there was short interest totalling 542,200 shares, a decrease of 9.8% from the August 31st total of 600,900 shares. Based on an average daily volume of 198,700 shares, the short-interest ratio is currently 2.7 days. Approximately 1.5% of the company’s stock are sold short.
FLMN stock traded up $0.01 during mid-day trading on Friday, reaching $2.46. 61,959 shares of the stock traded hands, compared to its average volume of 292,248. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.17. Falcon Minerals has a 52 week low of $1.60 and a 52 week high of $7.25. The business has a 50-day moving average of $2.72 and a two-hundred day moving average of $2.68. The firm has a market capitalization of $211.62 million, a PE ratio of 16.40 and a beta of 1.46.
Falcon Minerals (NASDAQ:FLMN) last released its quarterly earnings results on Wednesday, August 5th. The company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. Falcon Minerals had a net margin of 14.06% and a return on equity of 2.82%. The company had revenue of $6.12 million during the quarter, compared to analysts’ expectations of $6.20 million. On average, equities research analysts anticipate that Falcon Minerals will post 0.14 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 8th. Investors of record on Tuesday, August 25th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 4.88%. The ex-dividend date of this dividend was Monday, August 24th. This is a boost from Falcon Minerals’s previous quarterly dividend of $0.03. Falcon Minerals’s dividend payout ratio (DPR) is presently 38.71%.
A number of equities research analysts recently issued reports on the stock. Northland Securities reiterated a “hold” rating and issued a $3.00 price objective on shares of Falcon Minerals in a report on Friday, August 7th. Royal Bank of Canada restated a “hold” rating and set a $5.00 price target on shares of Falcon Minerals in a report on Sunday, July 26th. Finally, Zacks Investment Research upgraded shares of Falcon Minerals from a “sell” rating to a “hold” rating in a report on Monday, June 29th. Seven equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Falcon Minerals currently has an average rating of “Hold” and an average price target of $4.97.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FLMN. Goldman Sachs Group Inc. lifted its stake in shares of Falcon Minerals by 79.1% in the second quarter. Goldman Sachs Group Inc. now owns 4,988,678 shares of the company’s stock valued at $15,963,000 after buying an additional 2,203,006 shares during the period. Parametric Portfolio Associates LLC lifted its stake in shares of Falcon Minerals by 394.2% in the first quarter. Parametric Portfolio Associates LLC now owns 786,546 shares of the company’s stock valued at $1,691,000 after buying an additional 627,399 shares during the period. Sentry Investment Management LLC lifted its stake in shares of Falcon Minerals by 40.7% in the second quarter. Sentry Investment Management LLC now owns 1,134,234 shares of the company’s stock valued at $3,630,000 after buying an additional 327,945 shares during the period. Samlyn Capital LLC lifted its stake in shares of Falcon Minerals by 7.1% in the first quarter. Samlyn Capital LLC now owns 4,304,761 shares of the company’s stock valued at $9,255,000 after buying an additional 286,477 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of Falcon Minerals by 1,561.6% in the first quarter. JPMorgan Chase & Co. now owns 211,109 shares of the company’s stock valued at $453,000 after buying an additional 198,404 shares during the period. Institutional investors and hedge funds own 33.71% of the company’s stock.
Falcon Minerals Company Profile
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 75,000 gross unit acres in the Marcellus Shale across Pennsylvania, Ohio, and West Virginia.
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