Black Stone Minerals LP to Post Q1 2020 Earnings of $0.22 Per Share, Piper Sandler Forecasts (NYSE:BSM)

Black Stone Minerals LP (NYSE:BSM) – Equities researchers at Piper Sandler dropped their Q1 2020 earnings per share (EPS) estimates for Black Stone Minerals in a research report issued on Thursday, January 16th. Piper Sandler analyst P. Hammond now expects that the oil and gas producer will post earnings of $0.22 per share for the quarter, down from their previous forecast of $0.23. Piper Sandler also issued estimates for Black Stone Minerals’ Q2 2020 earnings at $0.23 EPS, Q3 2020 earnings at $0.23 EPS, Q4 2020 earnings at $0.24 EPS, FY2020 earnings at $0.92 EPS, Q1 2021 earnings at $0.24 EPS, Q2 2021 earnings at $0.21 EPS and FY2021 earnings at $0.88 EPS.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.28 by $0.04. Black Stone Minerals had a return on equity of 32.46% and a net margin of 48.19%. The business had revenue of $137.37 million during the quarter, compared to analyst estimates of $137.62 million.

BSM has been the subject of a number of other research reports. Zacks Investment Research lowered Black Stone Minerals from a “hold” rating to a “sell” rating in a research report on Monday. Scotiabank lowered Black Stone Minerals from an “outperform” rating to a “sector perform” rating and set a $14.00 price objective for the company. in a research report on Tuesday, November 26th. Stifel Nicolaus restated a “buy” rating and set a $16.00 price objective on shares of Black Stone Minerals in a research report on Wednesday, January 8th. Royal Bank of Canada restated a “buy” rating and set a $17.00 price objective on shares of Black Stone Minerals in a research report on Monday. Finally, ValuEngine upgraded Black Stone Minerals from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $17.14.

Shares of BSM stock opened at $12.21 on Monday. The firm has a market capitalization of $2.51 billion, a PE ratio of 8.14 and a beta of 0.55. The stock has a fifty day simple moving average of $12.57 and a two-hundred day simple moving average of $13.59. The company has a debt-to-equity ratio of 0.49, a quick ratio of 5.27 and a current ratio of 5.27. Black Stone Minerals has a 52-week low of $11.25 and a 52-week high of $18.77.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. William Marsh Rice University lifted its stake in Black Stone Minerals by 72.8% in the second quarter. William Marsh Rice University now owns 7,266,343 shares of the oil and gas producer’s stock worth $112,628,000 after purchasing an additional 3,061,173 shares during the last quarter. Morgan Stanley lifted its stake in Black Stone Minerals by 23.0% in the second quarter. Morgan Stanley now owns 648,352 shares of the oil and gas producer’s stock worth $10,050,000 after purchasing an additional 121,276 shares during the last quarter. Spirit of America Management Corp NY raised its stake in shares of Black Stone Minerals by 19.0% during the third quarter. Spirit of America Management Corp NY now owns 454,099 shares of the oil and gas producer’s stock valued at $6,466,000 after acquiring an additional 72,491 shares in the last quarter. First Trust Advisors LP raised its stake in shares of Black Stone Minerals by 47.7% during the third quarter. First Trust Advisors LP now owns 425,468 shares of the oil and gas producer’s stock valued at $6,059,000 after acquiring an additional 137,378 shares in the last quarter. Finally, Kempner Capital Management Inc. raised its stake in shares of Black Stone Minerals by 35.6% during the fourth quarter. Kempner Capital Management Inc. now owns 383,116 shares of the oil and gas producer’s stock valued at $4,873,000 after acquiring an additional 100,590 shares in the last quarter. 23.95% of the stock is owned by institutional investors and hedge funds.

In other Black Stone Minerals news, CAO Dawn Smajstrla sold 4,707 shares of the firm’s stock in a transaction dated Thursday, January 9th. The shares were sold at an average price of $13.25, for a total value of $62,367.75. Following the completion of the sale, the chief accounting officer now owns 42,673 shares of the company’s stock, valued at $565,417.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Luke Stevens Putman sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $12.99, for a total transaction of $389,700.00. Following the completion of the sale, the senior vice president now directly owns 352,226 shares of the company’s stock, valued at approximately $4,575,415.74. The disclosure for this sale can be found here. Company insiders own 24.40% 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 64 onshore basins in the continental United States.

Read More: How Investors Can Profit from Options Trading

Receive News & Ratings for Black Stone Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Stone Minerals and related companies with MarketBeat.com's FREE daily email newsletter.