Wall Street brokerages expect that Black Stone Minerals (NYSE:BSM) will post sales of $107.07 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Black Stone Minerals’ earnings, with the highest sales estimate coming in at $112.11 million and the lowest estimate coming in at $103.00 million. Black Stone Minerals reported sales of $124.58 million during the same quarter last year, which indicates a negative year over year growth rate of 14.1%. The business is expected to issue its next quarterly earnings results after the market closes on Monday, May 14th.
According to Zacks, analysts expect that Black Stone Minerals will report full year sales of $449.15 million for the current year, with estimates ranging from $431.00 million to $471.65 million. For the next fiscal year, analysts anticipate that the business will report sales of $461.42 million per share, with estimates ranging from $431.00 million to $495.16 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Black Stone Minerals.
Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, February 26th. The oil and gas producer reported $0.15 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.02). The firm had revenue of $95.44 million for the quarter, compared to the consensus estimate of $106.55 million. Black Stone Minerals had a net margin of 22.90% and a return on equity of 12.93%.
BSM has been the subject of several research reports. Zacks Investment Research raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research report on Monday, March 12th. Stifel Nicolaus initiated coverage on shares of Black Stone Minerals in a research report on Wednesday, January 17th. They issued a “hold” rating and a $19.00 price objective for the company. Finally, Citigroup lowered their price objective on shares of Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, March 28th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $19.17.
In other news, SVP Brock Morris sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The shares were sold at an average price of $17.31, for a total value of $432,750.00. Following the completion of the sale, the senior vice president now owns 321,825 shares of the company’s stock, valued at approximately $5,570,790.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Dawn Smajstrla sold 6,664 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $17.23, for a total transaction of $114,820.72. Following the completion of the sale, the vice president now directly owns 23,514 shares of the company’s stock, valued at approximately $405,146.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 56,664 shares of company stock valued at $985,821. 25.00% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently made changes to their positions in BSM. CI Global Investments Inc. lifted its position in shares of Black Stone Minerals by 71.8% in the 4th quarter. CI Global Investments Inc. now owns 2,808,151 shares of the oil and gas producer’s stock worth $50,378,000 after purchasing an additional 1,173,754 shares during the period. Dumac Inc. purchased a new stake in shares of Black Stone Minerals in the 4th quarter worth approximately $3,169,000. Goldman Sachs Group Inc. lifted its position in shares of Black Stone Minerals by 9.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,834,552 shares of the oil and gas producer’s stock worth $32,912,000 after purchasing an additional 162,071 shares during the period. Deutsche Bank AG purchased a new stake in shares of Black Stone Minerals in the 4th quarter worth approximately $1,941,000. Finally, Wells Fargo & Company MN lifted its position in shares of Black Stone Minerals by 432.5% in the 4th quarter. Wells Fargo & Company MN now owns 27,704 shares of the oil and gas producer’s stock worth $497,000 after purchasing an additional 22,501 shares during the period. 22.74% of the stock is owned by hedge funds and other institutional investors.
NYSE:BSM traded down $0.13 during mid-day trading on Wednesday, hitting $17.64. 122,451 shares of the stock traded hands, compared to its average volume of 156,936. The company has a market capitalization of $3,547.71, a price-to-earnings ratio of 17.47 and a beta of 0.40. Black Stone Minerals has a 52 week low of $15.12 and a 52 week high of $19.03. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.51.
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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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