Black Stone Minerals LP (BSM) Sees Strong Trading Volume
Shares of Black Stone Minerals LP (NYSE:BSM) saw unusually-strong trading volume on Friday . Approximately 142,537 shares were traded during trading, an increase of 75% from the previous session’s volume of 81,538 shares.The stock last traded at $16.04 and had previously closed at $16.05.
Separately, Zacks Investment Research downgraded shares of Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 10th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $17.83.
The firm’s market capitalization is $3.08 billion. The firm has a 50 day moving average of $15.53 and a 200-day moving average of $14.64.
Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.26. The firm had revenue of $40.57 million for the quarter, compared to analysts’ expectations of $77.50 million. On average, analysts anticipate that Black Stone Minerals LP will post $0.55 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Stockholders of record on Thursday, August 18th will be paid a $0.2875 dividend. The ex-dividend date of this dividend is Tuesday, August 16th. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.26. This represents a $1.15 dividend on an annualized basis and a dividend yield of 7.17%.
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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