Black Stone Minerals LP (BSM) Reaches New 52-Week High at $17.71
Black Stone Minerals LP (NYSE:BSM) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $17.71 and last traded at $17.35, with a volume of 218,874 shares. The stock had previously closed at $16.75.
A number of research analysts recently weighed in on BSM shares. Zacks Investment Research upgraded shares of Black Stone Minerals from a “sell” rating to a “hold” rating in a research note on Thursday, August 18th. 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 research note on Tuesday, August 16th. Finally, Stifel Nicolaus started coverage on shares of Black Stone Minerals in a research note on Tuesday. They issued a “buy” rating for the company. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $18.60.
The stock’s market capitalization is $3.30 billion. The company’s 50-day moving average is $15.82 and its 200 day moving average is $15.06.
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 analysts’ expectations of $77.50 million. On average, analysts anticipate that Black Stone Minerals LP will post $0.49 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, August 25th. Stockholders of record on Thursday, August 18th were paid a $0.2875 dividend. The ex-dividend date of this dividend was Tuesday, August 16th. This represents a $1.15 annualized dividend and a dividend yield of 6.87%. This is a boost 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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