Black Stone Minerals LP (BSM) Sees Strong Trading Volume
Black Stone Minerals LP (NYSE:BSM) saw strong trading volume on Thursday . 143,183 shares were traded during mid-day trading, an increase of 79% from the previous session’s volume of 79,878 shares.The stock last traded at $16.13 and had previously closed at $15.71.
Separately, Zacks Investment Research downgraded Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Monday, April 18th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Black Stone Minerals has an average rating of “Buy” and a consensus price target of $17.83.
The company’s market capitalization is $3.21 billion. The company’s 50 day moving average is $15.38 and its 200-day moving average is $14.54.
Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.22. On average, analysts predict that Black Stone Minerals LP will post $0.56 earnings per share for the current year.
In related news, Director Ricky J. Haeflinger purchased 3,000 shares of the stock in a transaction that occurred on Friday, May 13th. The stock was purchased at an average cost of $16.09 per share, for a total transaction of $48,270.00. Following the acquisition, the director now owns 9,000 shares in the company, valued at $144,810. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
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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