Black Stone Minerals, L.P. (BSM) Expected to Post Earnings of $0.19 Per Share

Wall Street analysts forecast that Black Stone Minerals, L.P. (NYSE:BSM) will post earnings of $0.19 per share for the current quarter, Zacks reports. Three analysts have provided estimates for Black Stone Minerals, L.P.’s earnings. The highest EPS estimate is $0.27 and the lowest is $0.15. Black Stone Minerals, L.P. reported earnings of ($0.08) per share during the same quarter last year, which indicates a positive year-over-year growth rate of 337.5%. The company is scheduled to issue its next earnings results on Monday, August 14th.

On average, analysts expect that Black Stone Minerals, L.P. will report full-year earnings of $0.81 per share for the current fiscal year, with EPS estimates ranging from $0.73 to $1.00. For the next financial year, analysts forecast that the business will report earnings of $0.84 per share, with EPS estimates ranging from $0.64 to $1.02. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Black Stone Minerals, L.P..

Several research firms have recently weighed in on BSM. TheStreet upgraded Black Stone Minerals, L.P. from a “d+” rating to a “c” rating in a research report on Thursday, June 8th. Barclays PLC reiterated an “overweight” rating and set a $19.00 target price (down from $20.00) on shares of Black Stone Minerals, L.P. in a research report on Wednesday, May 17th. Stifel Nicolaus upgraded Black Stone Minerals, L.P. from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research report on Thursday, March 23rd. They noted that the move was a valuation call. Finally, Scotiabank set a $20.00 target price on Black Stone Minerals, L.P. and gave the stock a “hold” rating in a research report on Monday, April 3rd. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $19.75.

In other news, Director Alexander D. Stuart acquired 18,650 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was purchased at an average cost of $16.00 per share, for a total transaction of $298,400.00. Following the completion of the acquisition, the director now directly owns 310,698 shares of the company’s stock, valued at approximately $4,971,168. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas L. Carter, Jr. acquired 7,750 shares of the firm’s stock in a transaction that occurred on Friday, June 9th. The stock was purchased at an average price of $15.86 per share, with a total value of $122,915.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,124,273 shares of the company’s stock, valued at $17,830,969.78. The disclosure for this purchase can be found here. Insiders purchased 44,000 shares of company stock valued at $719,635 over the last 90 days. 24.30% of the stock is currently owned by corporate insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. Morgan Stanley increased its stake in Black Stone Minerals, L.P. by 47.9% in the first quarter. Morgan Stanley now owns 2,973,063 shares of the oil and gas producer’s stock valued at $49,086,000 after buying an additional 962,824 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Black Stone Minerals, L.P. by 54.8% in the first quarter. Goldman Sachs Group Inc. now owns 995,362 shares of the oil and gas producer’s stock valued at $16,433,000 after buying an additional 352,537 shares during the last quarter. Wade G W & Inc. purchased a new stake in Black Stone Minerals, L.P. during the first quarter valued at $3,260,000. Guggenheim Capital LLC purchased a new stake in Black Stone Minerals, L.P. during the fourth quarter valued at $2,593,000. Finally, First Trust Advisors LP increased its stake in Black Stone Minerals, L.P. by 36.0% in the first quarter. First Trust Advisors LP now owns 490,253 shares of the oil and gas producer’s stock valued at $8,094,000 after buying an additional 129,890 shares during the last quarter. Hedge funds and other institutional investors own 24.81% of the company’s stock.

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Shares of Black Stone Minerals, L.P. (BSM) traded up 0.57% on Monday, reaching $15.90. 111,768 shares of the company’s stock were exchanged. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 46.36 and a beta of 0.27. The company’s 50 day moving average is $16.21 and its 200-day moving average is $17.37. Black Stone Minerals, L.P. has a one year low of $14.24 and a one year high of $19.86.

About Black Stone Minerals, L.P.

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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