Equities research analysts expect Black Stone Minerals LP (NYSE:BSM) to report sales of $134.03 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Black Stone Minerals’ earnings. The lowest sales estimate is $130.00 million and the highest is $139.89 million. Black Stone Minerals posted sales of $109.31 million during the same quarter last year, which suggests a positive year over year growth rate of 22.6%. The company is expected to issue its next quarterly earnings report on Monday, August 5th.
On average, analysts expect that Black Stone Minerals will report full-year sales of $500.88 million for the current year, with estimates ranging from $467.00 million to $531.59 million. For the next financial year, analysts anticipate that the firm will post sales of $555.80 million, with estimates ranging from $516.00 million to $602.50 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Black Stone Minerals.
Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, February 25th. The oil and gas producer reported $0.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.44. Black Stone Minerals had a return on equity of 25.55% and a net margin of 36.75%. The firm had revenue of $246.05 million for the quarter, compared to analyst estimates of $137.77 million.
A number of brokerages recently weighed in on BSM. Zacks Investment Research lowered Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 20th. Raymond James set a $22.00 price objective on Black Stone Minerals and gave the stock a “buy” rating in a report on Thursday, March 7th. Finally, Royal Bank of Canada began coverage on Black Stone Minerals in a report on Thursday, April 18th. They set an “outperform” rating and a $23.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $21.50.
In other Black Stone Minerals news, 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 sale, the senior vice president now directly owns 730,274 shares in the company, valued at $13,517,371.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Holbrook F. Dorn sold 15,358 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $18.51, for a total value of $284,276.58. Following the sale, the senior vice president now owns 730,274 shares in the company, valued at $13,517,371.74. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 162,125 shares of company stock worth $2,852,869. 24.40% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the business. HighTower Advisors LLC boosted its position in Black Stone Minerals by 8.0% during the first quarter. HighTower Advisors LLC now owns 162,942 shares of the oil and gas producer’s stock worth $2,877,000 after purchasing an additional 12,100 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Black Stone Minerals by 17.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,584,378 shares of the oil and gas producer’s stock valued at $27,948,000 after acquiring an additional 236,993 shares in the last quarter. Sprott Inc. purchased a new stake in shares of Black Stone Minerals in the first quarter valued at $234,000. Natixis lifted its position in shares of Black Stone Minerals by 421.8% in the first quarter. Natixis now owns 57,400 shares of the oil and gas producer’s stock valued at $1,007,000 after acquiring an additional 46,400 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in shares of Black Stone Minerals by 59.2% in the first quarter. Renaissance Technologies LLC now owns 154,700 shares of the oil and gas producer’s stock valued at $2,729,000 after acquiring an additional 57,500 shares in the last quarter. Institutional investors own 15.28% of the company’s stock.
BSM stock traded up $0.08 on Tuesday, reaching $16.60. 82,866 shares of the company’s stock were exchanged, compared to its average volume of 148,331. Black Stone Minerals has a twelve month low of $15.23 and a twelve month high of $19.29. The firm has a market capitalization of $3.41 billion, a PE ratio of 11.45 and a beta of 0.63. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.33 and a quick ratio of 2.33.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 16th were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $1.48 dividend on an annualized basis and a yield of 8.92%. Black Stone Minerals’s payout ratio is 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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