Wall Street brokerages predict that Black Stone Minerals LP (NYSE:BSM) will post earnings per share (EPS) of $0.28 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Black Stone Minerals’ earnings, with estimates ranging from $0.27 to $0.28. Black Stone Minerals reported earnings of $0.27 per share in the same quarter last year, which suggests a positive year-over-year growth rate of 3.7%. The firm is scheduled to announce its next earnings report on Monday, November 4th.
On average, analysts expect that Black Stone Minerals will report full year earnings of $1.04 per share for the current year, with EPS estimates ranging from $0.97 to $1.14. For the next financial year, analysts forecast that the company will report earnings of $1.07 per share, with EPS estimates ranging from $0.98 to $1.22. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that that provide coverage for Black Stone Minerals.
A number of brokerages have recently commented on BSM. ValuEngine cut Black Stone Minerals from a “hold” rating to a “sell” rating in a research note on Monday, June 24th. Citigroup set a $16.00 price target on Black Stone Minerals and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, Zacks Investment Research upgraded Black Stone Minerals from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Black Stone Minerals has an average rating of “Hold” and a consensus price target of $20.25.
In related news, Director D Mark Dewalch bought 5,350 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was acquired at an average cost of $16.44 per share, with a total value of $87,954.00. Following the transaction, the director now directly owns 174,272 shares in the company, valued at $2,865,031.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 24.40% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in BSM. Zions Bancorporation N.A. raised its position in Black Stone Minerals by 131.3% during the 2nd quarter. Zions Bancorporation N.A. now owns 6,012,972 shares of the oil and gas producer’s stock worth $93,201,000 after purchasing an additional 3,413,272 shares during the last quarter. William Marsh Rice University raised its position in Black Stone Minerals by 72.8% during the 2nd quarter. William Marsh Rice University now owns 7,266,343 shares of the oil and gas producer’s stock worth $112,628,000 after purchasing an additional 3,061,173 shares during the last quarter. Texas Children s raised its position in Black Stone Minerals by 106.7% during the 2nd quarter. Texas Children s now owns 4,689,939 shares of the oil and gas producer’s stock worth $72,694,000 after purchasing an additional 2,421,347 shares during the last quarter. EdgePoint Investment Group Inc. grew its holdings in Black Stone Minerals by 52.2% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 2,768,699 shares of the oil and gas producer’s stock worth $42,915,000 after acquiring an additional 950,151 shares during the period. Finally, Brown Advisory Inc. grew its holdings in Black Stone Minerals by 58.3% during the 2nd quarter. Brown Advisory Inc. now owns 1,698,942 shares of the oil and gas producer’s stock worth $26,334,000 after acquiring an additional 625,685 shares during the period. 20.88% of the stock is owned by institutional investors and hedge funds.
Shares of BSM opened at $14.07 on Friday. Black Stone Minerals has a 52 week low of $13.61 and a 52 week high of $19.03. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 11.06 and a beta of 0.58. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.75 and a current ratio of 2.75. The stock has a fifty day moving average of $14.78 and a 200-day moving average of $16.61.
The business also recently announced a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 15th were given a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 10.52%. The ex-dividend date of this dividend was Wednesday, August 14th. Black Stone Minerals’s dividend payout ratio is currently 102.07%.
Black Stone Minerals Company Profile
Black Stone Minerals, L.P. owns and manages oil and natural gas mineral interests in the United States. The company owns mineral interests in approximately 16.8 million acres, nonparticipating royalty interests in 1.9 million acres, and overriding royalty interests in 2.1 million acres located in 41 states and 64 onshore basins in the continental United States.
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