Black Stone Minerals LP (BSM) Sees Strong Trading Volume
Black Stone Minerals LP (NYSE:BSM) shares saw unusually-strong trading volume on Tuesday . Approximately 112,207 shares were traded during trading, an increase of 32% from the previous session’s volume of 84,748 shares.The stock last traded at $15.82 and had previously closed at $15.53.
Several research analysts have commented on BSM shares. Zacks Investment Research raised Black Stone Minerals from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research report on Tuesday, April 19th. FBR & Co started coverage on Black Stone Minerals in a research report on Wednesday, March 23rd. They set an “outperform” rating and a $17.00 price target on the stock. One investment analyst has rated the stock with a sell rating and five have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $17.83.
The firm’s 50-day moving average is $15.35 and its 200 day moving average is $14.40. The company’s market cap is $2.94 billion.
Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.22. Analysts predict that Black Stone Minerals LP will post $0.52 earnings per share for the current fiscal year.
In related news, Director Ricky J. Haeflinger purchased 3,000 shares of the company’s stock in a transaction dated Friday, May 13th. The shares were acquired at an average cost of $16.09 per share, for a total transaction of $48,270.00. Following the transaction, the director now owns 9,000 shares of the company’s stock, valued at $144,810. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website.
Other hedge funds recently made changes to their positions in the company. Hawkins Capital L.P. bought a new stake in shares of Black Stone Minerals during the fourth quarter worth $5,927,000. Toronto Dominion Bank boosted its stake in shares of Black Stone Minerals by 33.6% in the fourth quarter. Toronto Dominion Bank now owns 808,500 shares of the company’s stock worth $11,667,000 after buying an additional 203,200 shares during the last quarter. Finally, BBR Partners LLC bought a new stake in shares of Black Stone Minerals during the fourth quarter worth $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.
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