Brigham Minerals, Inc. (NYSE:MNRL) is a stock to watch today. At current price of $20.21, the shares have already lost -0.66 points (-3.16% lower) from its previous close of $20.87. The stock sets an active trading volume day with a reported 111839 contracts so far this session. MNRL shares had a relatively better volume day versus average trading capacity of 403.12 thousand shares, but with a 21.73 million float and a -0.48% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MNRL stock indicates that the average analyst price target is $25.7 per share. This means the stock has a potential increase of 27.16% from where the MNRL share price has been trading recently which is between $20.8 and $21.46. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $24.
The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “New Strong Sell Stocks for July 18th” and dated July 18, 2019.
Looking at the current readings for Brigham Minerals, Inc., the two-week RSI stands at 41.18. This figure suggests that MNRL stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MNRL readings is similarly very revealing as it has a stochastic reading of 25.63% at this stage. This figure means that MNRL share price today is being overbought.
Technical chart claims that Brigham Minerals, Inc. (MNRL) would settle between $21.29/share to $21.7/share level. However, if the stock price goes below the $20.63 mark, then the market for Brigham Minerals, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $20.38 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -0.33. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at SunTrust, assumed coverage of MNRL assigning Buy rating, according to their opinion released on June 17. Seaport Global Securities, analysts launched coverage of Brigham Minerals, Inc. (NYSE:MNRL) stock with a Buy recommendation, according to their flash note issued to investors on May 14. Analysts at Raymond James, made their first call for the equity with a Strong Buy recommendation, according to a research note that dated back to May 14.
MNRL equity has an average rating of 1.7, with the figure leaning towards a bullish end. 10 analysts who tracked the company were contacted by Reuters. Amongst them, 0 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while no rated it as a sell. 10 analysts rated Brigham Minerals, Inc. (NYSE:MNRL) as a buy or a strong buy while not a single analyst advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, MNRL stock price is currently trading at 18.31X forward 12-month Consensus EPS estimates, and its P/S ratio is 14.83 while for the average stock in the same group, the multiple is 90.14. Brigham Minerals, Inc. current P/E ratio of 33.84 means it is trading at a premium against its industry’s 4.66. In the past 5 years, this ratio for the stock has been fluctuating between 0 and 0.