Wall Street brokerages forecast that Black Stone Minerals (NYSE:BSM) will report sales of $123.11 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Black Stone Minerals’ earnings, with the lowest sales estimate coming in at $118.08 million and the highest estimate coming in at $126.26 million. Black Stone Minerals reported sales of $120.52 million in the same quarter last year, which would suggest a positive year over year growth rate of 2.1%. The company is expected to announce its next quarterly earnings results on Monday, August 6th.
According to Zacks, analysts expect that Black Stone Minerals will report full-year sales of $476.07 million for the current fiscal year, with estimates ranging from $431.00 million to $512.53 million. For the next fiscal year, analysts expect that the firm will report sales of $486.66 million per share, with estimates ranging from $431.00 million to $532.69 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Black Stone Minerals.
Black Stone Minerals (NYSE:BSM) last issued its earnings results on Monday, May 7th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.23. Black Stone Minerals had a return on equity of 11.19% and a net margin of 20.78%. The firm had revenue of $114.49 million for the quarter, compared to the consensus estimate of $106.00 million.
A number of research analysts have commented on BSM shares. TheStreet upgraded Black Stone Minerals from a “c” rating to a “b-” rating in a research note on Monday, April 30th. Zacks Investment Research upgraded Black Stone Minerals from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 15th. Stifel Nicolaus upgraded Black Stone Minerals from a “hold” rating to a “buy” rating and boosted their target price for the company from $18.00 to $20.00 in a research note on Tuesday, May 8th. Finally, Citigroup lowered their target price on Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, March 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $19.67.
NYSE BSM traded down $0.38 on Tuesday, reaching $17.83. The stock had a trading volume of 5,060 shares, compared to its average volume of 145,704. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.82 and a quick ratio of 1.82. Black Stone Minerals has a 1 year low of $15.12 and a 1 year high of $19.03. The company has a market capitalization of $3.71 billion, a P/E ratio of 18.03 and a beta of 0.39.
The company also recently announced a quarterly dividend, which was paid on Thursday, May 24th. Shareholders of record on Thursday, May 17th were paid a $0.313 dividend. The ex-dividend date was Wednesday, May 16th. This represents a $1.25 dividend on an annualized basis and a yield of 7.02%. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.31. Black Stone Minerals’s payout ratio is 123.76%.
In related news, Director Alexander D. Stuart purchased 15,000 shares of the firm’s stock in a transaction dated Tuesday, March 6th. The stock was bought at an average price of $17.43 per share, for a total transaction of $261,450.00. Following the purchase, the director now owns 335,234 shares in the company, valued at approximately $5,843,128.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas L. Carter, Jr. purchased 14,240 shares of the firm’s stock in a transaction dated Thursday, March 1st. The shares were bought at an average price of $17.26 per share, with a total value of $245,782.40. Following the purchase, the chief executive officer now owns 972,182 shares in the company, valued at approximately $16,779,861.32. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 56,664 shares of company stock valued at $985,821. 25.10% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new stake in shares of Black Stone Minerals during the 4th quarter worth about $170,000. Rockefeller Capital Management L.P. bought a new stake in shares of Black Stone Minerals during the 1st quarter worth about $185,000. Acadian Asset Management LLC bought a new stake in shares of Black Stone Minerals during the 4th quarter worth about $221,000. Jane Street Group LLC bought a new stake in shares of Black Stone Minerals during the 4th quarter worth about $221,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Black Stone Minerals during the 4th quarter worth about $245,000. Institutional investors own 11.42% of the company’s stock.
Black Stone Minerals Company Profile
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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