Falcon Minerals (NASDAQ:FLMN) Announces Earnings Results

Falcon Minerals (NASDAQ:FLMN) issued its quarterly earnings data on Thursday. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02), Fidelity Earnings reports. Falcon Minerals had a net margin of 31.57% and a return on equity of 10.79%. The business had revenue of $15.91 million for the quarter, compared to analyst estimates of $16.30 million.

NASDAQ:FLMN traded up $0.01 during trading hours on Friday, reaching $6.39. 229,400 shares of the stock were exchanged, compared to its average volume of 210,448. Falcon Minerals has a 52 week low of $5.31 and a 52 week high of $9.53. The stock has a market capitalization of $552.95 million, a P/E ratio of 31.95 and a beta of 0.49. The firm has a 50 day simple moving average of $6.17 and a 200-day simple moving average of $7.14. The company has a quick ratio of 9.25, a current ratio of 9.25 and a debt-to-equity ratio of 0.14.

FLMN has been the subject of a number of recent analyst reports. ValuEngine upgraded Falcon Minerals from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Wells Fargo & Co initiated coverage on Falcon Minerals in a research note on Friday, October 4th. They set a “market perform” rating for the company. Citigroup set a $8.00 price objective on Falcon Minerals and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Zacks Investment Research upgraded Falcon Minerals from a “sell” rating to a “hold” rating in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $9.89.

In other news, major shareholder Hite Hedge Asset Management Ll sold 176,400 shares of Falcon Minerals stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $7.04, for a total transaction of $1,241,856.00. Over the last quarter, insiders have sold 322,669 shares of company stock worth $2,176,423. 15.80% of the stock is owned by insiders.

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 68,000 gross unit acres in Pennsylvania, Ohio, and West Virginia that is prospective for the Marcellus Shale.

Further Reading: Hold Rating

Earnings History for Falcon Minerals (NASDAQ:FLMN)

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