Black Stone Minerals LP (NYSE:BSM) – Analysts at Piper Jaffray Companies dropped their Q1 2019 earnings estimates for Black Stone Minerals in a research report issued on Wednesday, January 9th. Piper Jaffray Companies analyst K. Harrison now anticipates that the oil and gas producer will post earnings per share of $0.24 for the quarter, down from their previous estimate of $0.29. Piper Jaffray Companies also issued estimates for Black Stone Minerals’ Q2 2019 earnings at $0.25 EPS, Q3 2019 earnings at $0.26 EPS, Q4 2019 earnings at $0.28 EPS, FY2019 earnings at $1.02 EPS, Q3 2020 earnings at $0.23 EPS, Q4 2020 earnings at $0.25 EPS and FY2020 earnings at $0.94 EPS.
Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. The business had revenue of $139.72 million for the quarter, compared to analysts’ expectations of $131.94 million. Black Stone Minerals had a return on equity of 10.87% and a net margin of 18.62%.
Separately, Zacks Investment Research raised Black Stone Minerals from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 19th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. Black Stone Minerals has a consensus rating of “Buy” and a consensus price target of $20.00.
BSM opened at $16.14 on Friday. The firm has a market capitalization of $3.34 billion, a P/E ratio of 15.98 and a beta of 0.54. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.49. Black Stone Minerals has a 1 year low of $15.23 and a 1 year high of $19.29.
A number of institutional investors have recently made changes to their positions in BSM. Tower Research Capital LLC TRC raised its holdings in Black Stone Minerals by 176.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 15,791 shares of the oil and gas producer’s stock valued at $292,000 after acquiring an additional 10,089 shares in the last quarter. California Public Employees Retirement System purchased a new stake in shares of Black Stone Minerals during the second quarter valued at approximately $323,000. SCP Investment LP bought a new position in Black Stone Minerals during the third quarter valued at $488,000. Welch & Forbes LLC grew its holdings in Black Stone Minerals by 222.2% during the third quarter. Welch & Forbes LLC now owns 50,598 shares of the oil and gas producer’s stock valued at $921,000 after purchasing an additional 34,892 shares during the period. Finally, Private Wealth Partners LLC grew its holdings in Black Stone Minerals by 9.6% during the third quarter. Private Wealth Partners LLC now owns 85,500 shares of the oil and gas producer’s stock valued at $1,557,000 after purchasing an additional 7,500 shares during the period. 14.23% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director William N. Mathis bought 11,400 shares of the firm’s stock in a transaction on Tuesday, November 13th. The stock was purchased at an average price of $16.79 per share, with a total value of $191,406.00. Following the completion of the transaction, the director now directly owns 74,021 shares of the company’s stock, valued at $1,242,812.59. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Thomas L. Carter, Jr. bought 15,300 shares of the business’s stock in a transaction that occurred on Thursday, December 6th. The stock was purchased at an average price of $16.24 per share, with a total value of $248,472.00. Following the completion of the purchase, the chief executive officer now directly owns 842,865 shares of the company’s stock, valued at approximately $13,688,127.60. The disclosure for this purchase can be found here. Insiders bought a total of 28,175 shares of company stock worth $465,009 over the last three months. Insiders own 25.10% of the company’s stock.
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 in 64 onshore basins in the continental United States.
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