Black Stone Minerals LP (BSM) Trading Up 2.2%
Black Stone Minerals LP (NYSE:BSM) shares were up 2.2% during trading on Thursday . The stock traded as high as $15.54 and last traded at $15.33, with a volume of 84,343 shares. The stock had previously closed at $15.00.
Several brokerages have commented on BSM. Zacks Investment Research raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a report on Tuesday, April 19th. FBR & Co began coverage on shares of Black Stone Minerals in a report on Wednesday, March 23rd. They issued an “outperform” rating and a $17.00 price target for the company. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $17.83.
The company’s market capitalization is $2.94 billion. The stock has a 50 day moving average price of $15.35 and a 200-day moving average price of $14.38.
Black Stone Minerals (NYSE:BSM) last released its quarterly earnings data on Monday, May 9th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.22. On average, analysts predict that Black Stone Minerals LP will post $0.48 earnings per share for the current fiscal year.
In related news, Director Ricky J. Haeflinger acquired 3,000 shares of the firm’s stock in a transaction dated Friday, May 13th. The stock was purchased at an average cost of $16.09 per share, with a total value of $48,270.00. Following the completion of the acquisition, the director now directly owns 9,000 shares of the company’s stock, valued at $144,810. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Several hedge funds and institutional investors recently added to or reduced their stakes in BSM. Hawkins Capital L.P. bought a new position in Black Stone Minerals during the fourth quarter valued at $5,927,000. Toronto Dominion Bank boosted its position in Black Stone Minerals by 33.6% in the fourth quarter. Toronto Dominion Bank now owns 808,500 shares of the company’s stock valued at $11,667,000 after buying an additional 203,200 shares during the last quarter. Finally, BBR Partners LLC bought a new position in Black Stone Minerals during the fourth quarter valued at $4,460,000.
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.