Black Stone Minerals LP (BSM) Sees Large Volume Increase
Black Stone Minerals LP (NYSE:BSM) shares saw strong trading volume on Tuesday . 96,138 shares traded hands during trading, an increase of 7% from the previous session’s volume of 90,160 shares.The stock last traded at $15.03 and had previously closed at $15.16.
Several analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research report on Monday, April 18th. FBR & Co assumed coverage on shares of Black Stone Minerals in a research report on Wednesday, March 23rd. They set an “outperform” rating and a $17.00 price target on the stock. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $17.83.
The company’s market cap is $2.89 billion. The firm’s 50 day moving average price is $15.32 and its 200 day moving average price is $14.42.
Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of $0.10 by $0.22. Equities research analysts expect that Black Stone Minerals LP will post $0.55 EPS for the current fiscal year.
In other Black Stone Minerals news, Director Ricky J. Haeflinger purchased 3,000 shares of the stock in a transaction dated Friday, May 13th. The shares were bought at an average price of $16.09 per share, with a total value of $48,270.00. Following the completion of the transaction, the director now directly owns 9,000 shares in the company, valued at approximately $144,810. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
A hedge fund recently bought a new stake in Black Stone Minerals stock. BBR Partners LLC purchased a new stake in shares of Black Stone Minerals LP (NYSE:BSM) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 309,058 shares of the company’s stock, valued at approximately $4,460,000. Black Stone Minerals makes up 0.7% of BBR Partners LLC’s investment portfolio, making the stock its 9th largest position. BBR Partners LLC owned about 0.16% of Black Stone Minerals at the end of the most recent quarter.
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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