Falcon Minerals (NASDAQ:FLMN) Cut to Sell at Zacks Investment Research

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Zacks Investment Research downgraded shares of Falcon Minerals (NASDAQ:FLMN) from a hold rating to a sell rating in a research report released on Tuesday morning, Zacks.com reports.

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. “

A number of other analysts have also recently commented on FLMN. Citigroup set a $21.00 target price on shares of Tanger Factory Outlet Centers and gave the stock a hold rating in a research note on Tuesday, April 2nd. Stifel Nicolaus boosted their target price on shares of Workday from $175.00 to $195.00 and gave the stock a hold rating in a research note on Wednesday, May 29th. ValuEngine raised shares of Yirendai from a strong sell rating to a sell rating in a research note on Friday, May 3rd. Robert W. Baird started coverage on shares of Falcon Minerals in a research note on Thursday, May 23rd. They set an outperform rating and a $7.35 target price for the company. Finally, Royal Bank of Canada reissued a neutral rating and set a $145.00 target price on shares of Travelers Companies in a research note on Thursday, April 18th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $10.09.

Shares of Falcon Minerals stock opened at $7.94 on Tuesday. The stock has a 50-day moving average price of $7.77. The firm has a market capitalization of $698.03 million, a P/E ratio of 39.70 and a beta of 0.34. Falcon Minerals has a fifty-two week low of $6.71 and a fifty-two week high of $11.70. The company has a debt-to-equity ratio of 0.11, a quick ratio of 11.12 and a current ratio of 11.11.

Falcon Minerals (NASDAQ:FLMN) last issued 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 firm had revenue of $21.26 million during the quarter, compared to analyst estimates of $20.49 million. As a group, sell-side analysts expect that Falcon Minerals will post 0.48 earnings per share for the current fiscal year.

In other Falcon Minerals news, Director Al J. Hirshberg acquired 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was bought at an average price of $8.00 per share, with a total value of $240,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 15.80% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Samlyn Capital LLC lifted its holdings in shares of Falcon Minerals by 0.4% in the 4th quarter. Samlyn Capital LLC now owns 4,009,618 shares of the company’s stock worth $34,081,000 after acquiring an additional 16,683 shares during the last quarter. Iridian Asset Management LLC CT acquired a new position in shares of Falcon Minerals in the 1st quarter worth approximately $877,000. Northern Trust Corp acquired a new position in shares of Falcon Minerals in the 4th quarter worth approximately $572,000. Geode Capital Management LLC acquired a new position in shares of Falcon Minerals in the 4th quarter worth approximately $3,288,000. Finally, RBF Capital LLC acquired a new position in shares of Falcon Minerals in the 4th quarter worth approximately $85,000. 65.43% of the stock is owned by institutional investors and hedge funds.

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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