Wall Street brokerages forecast that Black Stone Minerals LP (NYSE:BSM) will announce sales of $139.25 million for the current quarter, Zacks reports. Two analysts have issued estimates for Black Stone Minerals’ earnings, with the highest sales estimate coming in at $141.51 million and the lowest estimate coming in at $137.00 million. Black Stone Minerals posted sales of $139.72 million in the same quarter last year, which suggests a negative year-over-year growth rate of 0.3%. The firm is expected to report its next earnings report on Monday, November 4th.
According to Zacks, analysts expect that Black Stone Minerals will report full year sales of $535.61 million for the current financial year, with estimates ranging from $523.00 million to $548.22 million. For the next fiscal year, analysts expect that the company will post sales of $565.95 million, with estimates ranging from $518.00 million to $613.89 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that cover Black Stone Minerals.
Black Stone Minerals (NYSE:BSM) last announced its earnings results on Monday, August 5th. The oil and gas producer reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. Black Stone Minerals had a net margin of 41.52% and a return on equity of 27.81%. The business had revenue of $163.62 million for the quarter, compared to analyst estimates of $130.18 million.
Several analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Black Stone Minerals from a “hold” rating to a “strong-buy” rating and set a $16.00 target price on the stock in a research report on Wednesday, October 2nd. Citigroup set a $16.00 target price on shares of Black Stone Minerals and gave the company a “buy” rating in a research report on Monday, August 12th. ValuEngine upgraded shares of Black Stone Minerals from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. TheStreet lowered shares of Black Stone Minerals from a “b-” rating to a “c+” rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Co began coverage on shares of Black Stone Minerals in a research report on Friday, October 4th. They issued a “market perform” rating and a $19.00 target price on the stock. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $19.20.
Several large investors have recently bought and sold shares of the company. Sprott Inc. lifted its stake in shares of Black Stone Minerals by 6.8% in the second quarter. Sprott Inc. now owns 14,197 shares of the oil and gas producer’s stock worth $220,000 after buying an additional 900 shares in the last quarter. Howard Financial Services LTD. raised its stake in Black Stone Minerals by 2.2% during the second quarter. Howard Financial Services LTD. now owns 50,719 shares of the oil and gas producer’s stock worth $786,000 after purchasing an additional 1,107 shares during the period. Arlington Partners LLC purchased a new position in Black Stone Minerals during the second quarter worth about $29,000. Lenox Wealth Advisors LLC purchased a new position in Black Stone Minerals during the third quarter worth about $36,000. Finally, Van ECK Associates Corp raised its stake in Black Stone Minerals by 2.3% during the second quarter. Van ECK Associates Corp now owns 118,674 shares of the oil and gas producer’s stock worth $1,839,000 after purchasing an additional 2,639 shares during the period. 23.04% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE BSM traded up $0.21 during trading on Friday, hitting $13.21. The company had a trading volume of 220,913 shares, compared to its average volume of 246,751. The stock has a fifty day simple moving average of $14.19 and a two-hundred day simple moving average of $15.78. Black Stone Minerals has a fifty-two week low of $12.94 and a fifty-two week high of $18.77. The firm has a market capitalization of $2.72 billion, a price-to-earnings ratio of 9.11 and a beta of 0.58. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.52.
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 64 onshore basins in the continental United States.
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