Black Stone Minerals LP (BSM) Sees Large Volume Increase
Black Stone Minerals LP (NYSE:BSM) saw an uptick in trading volume on Thursday . 330,302 shares traded hands during mid-day trading, an increase of 63% from the previous session’s volume of 202,763 shares.The stock last traded at $15.80 and had previously closed at $15.35.
A number of research firms have weighed in on BSM. Barclays PLC lifted their price objective on shares of Black Stone Minerals from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday. Zacks Investment Research raised shares of Black Stone Minerals from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $18.60.
The company’s market cap is $3.01 billion. The stock’s 50 day moving average is $15.62 and its 200 day moving average is $14.72.
Black Stone Minerals (NYSE:BSM) last issued its earnings results on Monday, August 8th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by $0.26. The firm had revenue of $40.57 million for the quarter, compared to analyst estimates of $77.50 million. Equities research analysts forecast that Black Stone Minerals LP will post $0.49 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 25th. Stockholders of record on Thursday, August 18th will be issued a $0.2875 dividend. This represents a $1.15 annualized dividend and a dividend yield of 7.29%. The ex-dividend date is Tuesday, August 16th. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.26.
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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