Shares of Brigham Minerals Drop on Stock Offering

Share of oil and gas royalty company Brigham Minerals (NYSE: MNRL) are down 12.1% as of 12 p.m. EDT today. The drop comes after the company announced a secondary offering of its stock after the close of the market yesterday.

Brigham announced it will be offering 4.36 million shares of its stock at a price of $8.20 per share. Unsurprisingly, today's stock drop means that its stock now trades at $8.19 per share at the time of this writing (what a coincidence).

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Source Fool.com