Black Stone Minerals LP (NYSE:BSM) – Equities research analysts at Piper Jaffray Companies reduced their Q1 2019 EPS estimates for Black Stone Minerals in a research note issued to investors 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.
Separately, Zacks Investment Research raised Black Stone Minerals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 19th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. Black Stone Minerals presently has an average rating of “Buy” and a consensus target price of $20.00.
Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, November 5th. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.01. Black Stone Minerals had a net margin of 18.62% and a return on equity of 10.87%. The company had revenue of $139.72 million for the quarter, compared to analysts’ expectations of $131.94 million.
In other news, SVP Luke Stevens Putman sold 14,230 shares of Black Stone Minerals stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $17.58, for a total value of $250,163.40. Following the sale, the senior vice president now owns 287,464 shares in the company, valued at $5,053,617.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Thomas L. Carter, Jr. bought 15,300 shares of the company’s stock in a transaction dated Thursday, December 6th. The stock was bought at an average price of $16.24 per share, for a total transaction of $248,472.00. Following the transaction, the chief executive officer now owns 842,865 shares of the company’s stock, valued at $13,688,127.60. The disclosure for this purchase can be found here. In the last quarter, insiders bought 28,175 shares of company stock worth $465,009. Company insiders own 25.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in BSM. Kempner Capital Management Inc. grew its holdings in shares of Black Stone Minerals by 16.7% during the fourth quarter. Kempner Capital Management Inc. now owns 151,789 shares of the oil and gas producer’s stock worth $2,350,000 after buying an additional 21,680 shares in the last quarter. Renaissance Technologies LLC raised its position in Black Stone Minerals by 1.3% in the 3rd quarter. Renaissance Technologies LLC now owns 288,581 shares of the oil and gas producer’s stock valued at $5,255,000 after purchasing an additional 3,826 shares during the last quarter. McGowan Group Asset Management Inc. raised its position in Black Stone Minerals by 3.9% in the 3rd quarter. McGowan Group Asset Management Inc. now owns 134,705 shares of the oil and gas producer’s stock valued at $2,453,000 after purchasing an additional 5,061 shares during the last quarter. SCP Investment LP purchased a new stake in Black Stone Minerals in the 3rd quarter valued at $488,000. Finally, GSA Capital Partners LLP raised its position in Black Stone Minerals by 31.9% in the 3rd quarter. GSA Capital Partners LLP now owns 108,498 shares of the oil and gas producer’s stock valued at $1,976,000 after purchasing an additional 26,250 shares during the last quarter. Institutional investors and hedge funds own 14.23% 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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