Falcon Minerals (FLMN) Q3 Results - Nov 4
Posted: Thu Nov 04, 2021 3:31 pm
Falcon is one of four minerals companies in our High Yield Income Portfolio. Derrick's BUY recommendation is a BIG PLUS for me.
Falcon Minerals Corporation (FLMN, $5.91, Buy; Target $7.90)
Exceeds FCF per share guidance and discloses modest improvement to DUC backlog - Derrick Whitfield
We view this release as neutral. The positives include: i) Falcon exceeded prior FCF per share guidance, ii) higher than expected dividend payout, and iii) encouraging leasing activity in the Marcellus during Q321 providing $1.1mm in revenue. The only negative was a production miss (6.6% on oil). Net-net, Falcon's strong financial result for the quarter and slight increase to its net DUC inventory should offset a disappointing quarterly production number.
Falcon Minerals Corporation (FLMN, $5.91, Buy; Target $7.90)
Exceeds FCF per share guidance and discloses modest improvement to DUC backlog - Derrick Whitfield
We view this release as neutral. The positives include: i) Falcon exceeded prior FCF per share guidance, ii) higher than expected dividend payout, and iii) encouraging leasing activity in the Marcellus during Q321 providing $1.1mm in revenue. The only negative was a production miss (6.6% on oil). Net-net, Falcon's strong financial result for the quarter and slight increase to its net DUC inventory should offset a disappointing quarterly production number.