Black Stone Minerals LP (BSM) Trading Up 2.2%
Black Stone Minerals LP (NYSE:BSM) shares were up 2.2% during trading on Thursday . The stock traded as high as $15.54 and last traded at $15.33, with a volume of 84,343 shares. The stock had previously closed at $15.00.
Several research analysts have recently commented on BSM shares. Zacks Investment Research upgraded Black Stone Minerals from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Tuesday, April 19th. FBR & Co started coverage on Black Stone Minerals in a research note on Wednesday, March 23rd. They set an “outperform” rating and a $17.00 target price for the company. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $17.83.
The stock’s market capitalization is $2.96 billion. The firm has a 50 day moving average of $15.34 and a 200-day moving average of $14.39.
Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Monday, May 9th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.22. Equities analysts predict that Black Stone Minerals LP will post $0.48 earnings per share for the current year.
In other news, Director Ricky J. Haeflinger purchased 3,000 shares of the company’s stock in a transaction that occurred on Friday, May 13th. The shares were acquired at an average cost of $16.09 per share, with a total value of $48,270.00. Following the purchase, the director now owns 9,000 shares in the company, valued at $144,810. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Several hedge funds recently modified their holdings of BSM. BBR Partners LLC bought a new stake in shares of Black Stone Minerals during the fourth quarter valued at approximately $4,460,000. Toronto Dominion Bank increased its stake in shares of Black Stone Minerals by 33.6% in the fourth quarter. Toronto Dominion Bank now owns 808,500 shares of the company’s stock valued at $11,667,000 after buying an additional 203,200 shares during the period. Finally, Hawkins Capital L.P. bought a new stake in shares of Black Stone Minerals during the fourth quarter valued at approximately $5,927,000.
Black Stone Minerals, L.P. owns oil and natural gas mineral interests in the United States. The Company’s principal business includes managing its existing portfolio of mineral and royalty assets and expanding its asset base through acquisitions of additional mineral and royalty interests. The Company owns mineral interests in approximately 14.5 million acres.
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