Black Stone Minerals LP (BSM) Sees Strong Trading Volume
Black Stone Minerals LP (NYSE:BSM) shares saw strong trading volume on Friday . 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 cut Black Stone Minerals from a “buy” rating to a “hold” rating in a research 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 currently has a consensus rating of “Buy” and a consensus target price of $17.83.
The stock has a 50-day moving average price of $15.53 and a 200 day moving average price of $14.64. The firm’s market capitalization is $3.08 billion.
Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, August 8th. The company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.26. The company earned $40.57 million during the quarter, compared to analysts’ expectations of $77.50 million. On average, analysts anticipate that Black Stone Minerals LP will post $0.55 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Investors of record on Thursday, August 18th will be issued a $0.2875 dividend. This represents a $1.15 annualized dividend and a yield of 7.17%. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Tuesday, August 16th.
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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