Black Stone Minerals LP (NYSE:BSM) – Research analysts at Piper Jaffray Companies cut their Q2 2019 EPS estimates for shares of Black Stone Minerals in a research report issued to clients and investors on Sunday, May 12th. Piper Jaffray Companies analyst K. Harrison now forecasts that the oil and gas producer will post earnings per share of $0.25 for the quarter, down from their prior forecast of $0.26. Piper Jaffray Companies also issued estimates for Black Stone Minerals’ Q3 2019 earnings at $0.23 EPS, Q4 2019 earnings at $0.25 EPS, FY2019 earnings at $0.75 EPS, Q1 2020 earnings at $0.26 EPS, Q2 2020 earnings at $0.24 EPS, Q3 2020 earnings at $0.24 EPS, Q4 2020 earnings at $0.25 EPS and FY2020 earnings at $0.98 EPS.
BSM has been the subject of a number of other reports. Raymond James set a $22.00 price objective on shares of Black Stone Minerals and gave the stock a “buy” rating in a report on Thursday, March 7th. Zacks Investment Research raised shares of Black Stone Minerals from a “sell” rating to a “hold” rating and set a $20.00 price objective for the company in a report on Thursday, February 28th. Finally, Royal Bank of Canada started coverage on shares of Black Stone Minerals in a report on Thursday, April 18th. They set an “outperform” rating and a $23.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Black Stone Minerals has an average rating of “Buy” and a consensus target price of $21.50.
Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, February 25th. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.44. Black Stone Minerals had a net margin of 36.75% and a return on equity of 25.55%. The company had revenue of $246.05 million during the quarter, compared to the consensus estimate of $137.77 million.
Institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC increased its position in shares of Black Stone Minerals by 1.3% in the third quarter. Renaissance Technologies LLC now owns 288,581 shares of the oil and gas producer’s stock valued at $5,255,000 after acquiring an additional 3,826 shares during the period. Bank of Montreal Can increased its position in shares of Black Stone Minerals by 432.3% in the fourth quarter. Bank of Montreal Can now owns 125,080 shares of the oil and gas producer’s stock valued at $1,936,000 after acquiring an additional 101,580 shares during the period. Oppenheimer & Co. Inc. purchased a new position in shares of Black Stone Minerals in the fourth quarter valued at about $387,000. Welch & Forbes LLC increased its position in shares of Black Stone Minerals by 34.5% in the fourth quarter. Welch & Forbes LLC now owns 68,044 shares of the oil and gas producer’s stock valued at $1,053,000 after acquiring an additional 17,446 shares during the period. Finally, CIBC Private Wealth Group LLC increased its position in shares of Black Stone Minerals by 13.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,135,686 shares of the oil and gas producer’s stock valued at $17,580,000 after acquiring an additional 135,686 shares during the period. 15.42% of the stock is owned by institutional investors and hedge funds.
In other Black Stone Minerals news, SVP Luke Stevens Putman sold 18,783 shares of the business’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $17.32, for a total value of $325,321.56. Following the completion of the sale, the senior vice president now directly owns 304,910 shares of the company’s stock, valued at $5,281,041.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Holbrook F. Dorn sold 15,503 shares of the business’s stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $18.51, for a total transaction of $286,960.53. Following the completion of the sale, the senior vice president now directly owns 730,274 shares of the company’s stock, valued at $13,517,371.74. The disclosure for this sale can be found here. Insiders sold 162,125 shares of company stock valued at $2,852,869 over the last three months. 24.40% of the stock is currently owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 16th will be paid a $0.37 dividend. This represents a $1.48 annualized dividend and a yield of 8.49%. The ex-dividend date is Wednesday, May 15th. Black Stone Minerals’s dividend payout ratio is presently 102.07%.
About Black Stone Minerals
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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