Falcon Minerals (FLMN) Rating Lowered to Sell at Zacks Investment Research

Zacks Investment Research downgraded shares of Falcon Minerals (NASDAQ:FLMN) from a buy rating to a sell rating in a research note released on Wednesday morning.

According to Zacks, “Falcon Minerals Corporation own and acquire oil-weighted minerals. The company owns mineral, royalty and over-riding royalty interests primarily in the Eagle Ford and Austin Chalk in Karnes County, DeWitt County and Gonzales County Texas. Falcon Minerals Corporation, formerly named Osprey Energy Acquisition Corp., is based in San Diego, California. “

Other equities analysts have also recently issued reports about the company. ValuEngine cut Falcon Minerals from a hold rating to a sell rating in a report on Friday, November 2nd. Credit Suisse Group began coverage on Falcon Minerals in a report on Friday, December 7th. They set an outperform rating and a $11.00 target price for the company. Northland Securities began coverage on Falcon Minerals in a report on Wednesday, September 26th. They set an outperform rating and a $13.00 target price for the company. Finally, Citigroup began coverage on Falcon Minerals in a report on Thursday, November 29th. They set a buy rating and a $11.00 target price for the company. Two analysts have rated the stock with a sell rating and three have given a buy rating to the company. The stock presently has an average rating of Hold and an average price target of $10.94.

NASDAQ FLMN opened at $7.35 on Wednesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 34.70 and a quick ratio of 34.70. Falcon Minerals has a twelve month low of $7.12 and a twelve month high of $11.70.

Falcon Minerals (NASDAQ:FLMN) last released its quarterly earnings results on Friday, November 9th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.14). The firm had revenue of $24.28 million during the quarter, compared to analyst estimates of $29.70 million. As a group, analysts expect that Falcon Minerals will post 0.59 EPS for the current year.

In related news, major shareholder Jana Partners Llc sold 944,703 shares of the firm’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $11.40, for a total transaction of $10,769,614.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian L. Frank bought 15,000 shares of the stock in a transaction that occurred on Wednesday, December 12th. The shares were purchased at an average price of $7.72 per share, with a total value of $115,800.00. The disclosure for this purchase can be found here. Company insiders own 8.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC purchased a new position in shares of Falcon Minerals in the 3rd quarter valued at about $224,000. Wells Fargo & Company MN purchased a new position in shares of Falcon Minerals in the 3rd quarter valued at about $227,000. Bluefin Trading LLC purchased a new position in shares of Falcon Minerals in the 3rd quarter valued at about $232,000. Man Group plc purchased a new position in shares of Falcon Minerals in the 3rd quarter valued at about $288,000. Finally, Engineers Gate Manager LP purchased a new position in shares of Falcon Minerals in the 3rd quarter valued at about $572,000. Institutional investors own 71.44% of the company’s stock.

Falcon Minerals Company Profile

Falcon Minerals Corporation acquires, owns, maintains, and manages mineral interests, mineral royalties, and overriding royalties relating to onshore unconventional shale oil and natural gas properties in the United States; and any associated interests and royalties relating to conventional oil and natural gas properties.

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