Royal Bank of Canada began coverage on shares of Falcon Minerals (NASDAQ:FLMN) in a research report released on Thursday, BenzingaRatingsTable reports. The firm issued a sector perform rating and a $10.00 price objective on the stock.
A number of other equities analysts have also recently issued reports on FLMN. Zacks Investment Research cut Falcon Minerals from a hold rating to a sell rating in a report on Wednesday, December 19th. Stifel Nicolaus initiated coverage on Falcon Minerals in a report on Thursday, April 4th. They issued a hold rating and a $10.00 target price for the company. Finally, Stephens initiated coverage on Falcon Minerals in a report on Thursday, April 11th. They issued an overweight rating and a $12.00 target price for the company. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $10.25.
Shares of FLMN stock opened at $9.05 on Thursday. The company has a quick ratio of 38.60, a current ratio of 38.60 and a debt-to-equity ratio of 0.08. Falcon Minerals has a twelve month low of $6.71 and a twelve month high of $11.70. The firm has a market cap of $477.21 million, a P/E ratio of 45.25 and a beta of -0.13.
In related news, major shareholder Hite Hedge Asset Management Ll purchased 54,130 shares of the firm’s stock in a transaction dated Wednesday, February 6th. The stock was bought at an average price of $8.23 per share, with a total value of $445,489.90. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.60% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Hodges Capital Management Inc. increased its stake in shares of Falcon Minerals by 15.2% in the first quarter. Hodges Capital Management Inc. now owns 19,000 shares of the company’s stock valued at $168,000 after buying an additional 2,500 shares during the period. Deprince Race & Zollo Inc. increased its stake in shares of Falcon Minerals by 36.7% in the fourth 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 period. RBF Capital LLC acquired a new stake in shares of Falcon Minerals in the fourth quarter valued at about $85,000. Squarepoint Ops LLC acquired a new stake in shares of Falcon Minerals in the fourth quarter valued at about $116,000. Finally, Samlyn Capital LLC increased its stake in shares of Falcon Minerals by 0.4% in the fourth quarter. Samlyn Capital LLC now owns 4,009,618 shares of the company’s stock valued at $34,081,000 after buying an additional 16,683 shares during the period. 64.70% of the stock is owned by institutional investors.
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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