Black Stone Minerals LP (NYSE:BSM) – Equities research analysts at FBR & Co reduced their FY2018 earnings per share (EPS) estimates for Black Stone Minerals in a report issued on Wednesday, Zacks Investment Research reports. FBR & Co analyst C. Mabry now forecasts that the oil and gas producer will post earnings per share of $0.60 for the year, down from their previous forecast of $0.61.
Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, February 27th. The oil and gas producer reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.15. The firm earned $56.71 million during the quarter, compared to analysts’ expectations of $88.72 million. Black Stone Minerals had a negative net margin of 5.00% and a positive return on equity of 6.26%. ILLEGAL ACTIVITY WARNING: “FBR & Co Comments on Black Stone Minerals LP’s FY2018 Earnings (BSM)” was first published by BBNS and is the property of of BBNS. If you are accessing this story on another website, it was illegally copied and reposted in violation of United States and international copyright law. The original version of this story can be viewed at https://baseballnewssource.com/markets/fy2018-eps-estimates-for-black-stone-minerals-lp-cut-by-analyst-bsm-updated-updated/525987.html.
A number of other research analysts have also weighed in on the company. Stifel Nicolaus raised Black Stone Minerals from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a research note on Thursday, March 23rd. They noted that the move was a valuation call. Scotiabank set a $20.00 price target on Black Stone Minerals and gave the stock a “hold” rating in a research note on Tuesday, February 28th. Finally, TheStreet lowered Black Stone Minerals from a “c” rating to a “d+” rating in a research note on Thursday, March 30th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $20.00.
Black Stone Minerals (NYSE:BSM) traded down 0.24% during trading on Friday, hitting $16.47. The stock had a trading volume of 53,861 shares. The firm has a market cap of $3.17 billion, a P/E ratio of 219.60 and a beta of 0.33. Black Stone Minerals has a 12-month low of $14.24 and a 12-month high of $19.86. The stock’s 50 day moving average price is $16.74 and its 200 day moving average price is $17.94.
In other news, SVP Brock Morris sold 18,000 shares of the company’s stock in a transaction on Monday, April 3rd. The stock was 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 directly owns 286,539 shares in the company, valued at approximately $4,679,181.87. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Dawn Smajstrla sold 7,000 shares of the company’s stock in a transaction on Monday, March 6th. The stock was sold at an average price of $17.20, for a total value of $120,400.00. Following the sale, the chief accounting officer now owns 19,976 shares of the company’s stock, valued at $343,587.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,945 shares of company stock valued at $588,184. Insiders own 24.30% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in BSM. First Trust Advisors LP purchased a new stake in Black Stone Minerals during the third quarter worth approximately $5,836,000. Allianz Asset Management AG increased its stake in shares of 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 valued at $1,873,000 after buying an additional 53,375 shares in the last quarter. Guggenheim Capital LLC bought a new stake in shares of Black Stone Minerals during the fourth quarter valued at about $2,593,000. Brown Advisory Inc. increased its stake in shares of 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 valued at $12,955,000 after buying an additional 493,647 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of 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 valued at $2,569,000 after buying an additional 11,771 shares in the last quarter. Institutional investors and hedge funds own 15.15% 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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