Wall Street analysts expect that Black Stone Minerals LP (NYSE:BSM) will announce sales of $109.11 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Black Stone Minerals’ earnings. The lowest sales estimate is $106.11 million and the highest is $112.11 million. Black Stone Minerals reported sales of $124.58 million during the same quarter last year, which would suggest a negative year over year growth rate of 12.4%. The business is scheduled to report its next earnings report on Monday, May 14th.
On average, analysts expect that Black Stone Minerals will report full year sales of $109.11 million for the current fiscal year, with estimates ranging from $444.79 million to $471.65 million. For the next financial year, analysts forecast that the firm will report sales of $476.63 million per share, with estimates ranging from $458.09 million to $495.16 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Black Stone Minerals.
A number of research analysts have weighed in on the stock. Zacks Investment Research raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Monday, March 12th. Stifel Nicolaus set a $18.00 price objective on shares of Black Stone Minerals and gave the company a “hold” rating in a research note on Wednesday, February 28th. Finally, Barclays set a $18.00 price objective on shares of Black Stone Minerals and gave the company a “buy” rating in a research note on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $19.00.
BSM stock traded down $0.01 during trading on Thursday, hitting $17.16. 142,977 shares of the company’s stock were exchanged, compared to its average volume of 158,335. Black Stone Minerals has a 12-month low of $15.12 and a 12-month high of $19.03. The company has a market capitalization of $1,824.52, a price-to-earnings ratio of 17.33 and a beta of 0.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.47 and a quick ratio of 1.47.
The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Stockholders of record on Tuesday, February 20th were issued a $0.3125 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.25 annualized dividend and a dividend yield of 7.28%. Black Stone Minerals’s dividend payout ratio is currently 126.26%.
In other news, SVP Luke Stevens Putman sold 23,170 shares of the stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $18.28, for a total value of $423,547.60. Following the completion of the sale, the senior vice president now owns 257,141 shares in the company, valued at $4,700,537.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Jeffrey P. Wood sold 10,810 shares of the stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $18.30, for a total transaction of $197,823.00. Following the completion of the sale, the chief financial officer now owns 53,031 shares of the company’s stock, valued at approximately $970,467.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,644 shares of company stock valued at $1,168,941. 25.00% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC purchased a new stake in Black Stone Minerals during the fourth quarter worth about $170,000. Acadian Asset Management LLC bought a new position in Black Stone Minerals during the fourth quarter worth about $221,000. Jane Street Group LLC bought a new position in Black Stone Minerals during the fourth quarter worth about $221,000. Renaissance Technologies LLC bought a new position in Black Stone Minerals during the fourth quarter worth about $245,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in Black Stone Minerals during the fourth quarter worth about $297,000. Institutional investors and hedge funds own 22.74% 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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