Black Stone Minerals LP (NYSE:BSM) – Research analysts at FBR & Co upped their Q2 2017 earnings per share (EPS) estimates for shares of Black Stone Minerals in a report issued on Wednesday, according to Zacks Investment Research. FBR & Co analyst C. Mabry now expects that the oil and gas producer will post earnings of $0.15 per share for the quarter, up from their previous estimate of $0.14. FBR & Co also issued estimates for Black Stone Minerals’ Q3 2017 earnings at $0.15 EPS, Q4 2017 earnings at $0.16 EPS, FY2017 earnings at $0.62 EPS and FY2019 earnings at $0.49 EPS.
A number of other research firms have also recently weighed in on BSM. Scotiabank set a $20.00 price objective on shares of Black Stone Minerals and gave the company a “hold” rating in a report on Monday, April 3rd. Stifel Nicolaus raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a report on Thursday, March 23rd. They noted that the move was a valuation call. Finally, TheStreet cut shares of Black Stone Minerals from a “c” rating to a “d+” rating in a report on Thursday, March 30th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $20.00.
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Black Stone Minerals (NYSE:BSM) traded down 0.24% during trading on Thursday, reaching $16.47. The company had a trading volume of 54,465 shares. Black Stone Minerals has a 12-month low of $14.24 and a 12-month high of $19.86. The stock has a 50 day moving average of $16.74 and a 200-day moving average of $17.94. The stock has a market capitalization of $3.17 billion, a P/E ratio of 219.60 and a beta of 0.33.
Black Stone Minerals (NYSE:BSM) last released its quarterly earnings data on Monday, February 27th. The oil and gas producer reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by $0.15. The business earned $56.71 million during the quarter, compared to the consensus estimate of $88.72 million. Black Stone Minerals had a negative net margin of 5.00% and a positive return on equity of 6.26%.
Several hedge funds have recently added to or reduced their stakes in BSM. First Trust Advisors LP acquired a new position in Black Stone Minerals during the third quarter worth $5,836,000. Allianz Asset Management AG raised its position in Black Stone Minerals by 115.1% in the fourth quarter. Allianz Asset Management AG now owns 99,750 shares of the oil and gas producer’s stock worth $1,873,000 after buying an additional 53,375 shares during the last quarter. Guggenheim Capital LLC acquired a new position in Black Stone Minerals during the fourth quarter worth $2,593,000. Brown Advisory Inc. raised its position in Black Stone Minerals by 251.7% in the fourth quarter. Brown Advisory Inc. now owns 689,800 shares of the oil and gas producer’s stock worth $12,955,000 after buying an additional 493,647 shares during the last quarter. Finally, SG Americas Securities LLC raised its position in Black Stone Minerals by 8.9% in the third quarter. SG Americas Securities LLC now owns 144,259 shares of the oil and gas producer’s stock worth $2,569,000 after buying an additional 11,771 shares during the last quarter. 15.15% of the stock is owned by institutional investors and hedge funds.
In other news, SVP Brock Morris sold 18,000 shares of the business’s stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $16.33, for a total transaction of $293,940.00. Following the completion of the sale, the senior vice president now owns 286,539 shares of the company’s stock, valued at $4,679,181.87. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dawn Smajstrla sold 7,000 shares of the business’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $17.20, for a total transaction of $120,400.00. Following the sale, the chief accounting officer now directly owns 19,976 shares of the company’s stock, valued at approximately $343,587.20. The disclosure for this sale can be found here. Insiders have sold 34,945 shares of company stock valued at $588,184 in the last three months. Corporate insiders own 24.30% of the company’s stock.
About Black Stone Minerals
Black Stone Minerals, L.P. is an owner of oil and natural gas mineral interests in the United States. The Company’s principal business is maximizing the value of its existing portfolio of mineral and royalty assets through active management and expanding its asset base through acquisitions of additional mineral and royalty interests.
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