Black Stone Minerals, L.P. (NYSE:BSM) announced its earnings results on Monday. The oil and gas producer reported $0.32 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.14, Morningstar.com reports. Black Stone Minerals, L.P. had a return on equity of 12.98% and a net margin of 22.71%. The business had revenue of $120.52 million for the quarter, compared to analysts’ expectations of $95.87 million.

Black Stone Minerals, L.P. (NYSE:BSM) opened at 16.43 on Wednesday. Black Stone Minerals, L.P. has a 12-month low of $15.12 and a 12-month high of $19.86. The company has a market capitalization of $3.17 billion, a PE ratio of 47.90 and a beta of 0.30. The firm’s 50 day moving average price is $16.06 and its 200-day moving average price is $16.76.

The firm also recently declared a dividend, which will be paid on Thursday, August 24th. Shareholders of record on Thursday, August 17th will be issued a dividend of $0.313 per share. The ex-dividend date is Tuesday, August 15th. Black Stone Minerals, L.P.’s payout ratio is 138.56%.

Several brokerages recently commented on BSM. Zacks Investment Research upgraded Black Stone Minerals, L.P. from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Scotiabank set a $20.00 price target on Black Stone Minerals, L.P. and gave the stock a “hold” rating in a report on Saturday, July 22nd. Stifel Nicolaus restated a “buy” rating and set a $18.00 price target on shares of Black Stone Minerals, L.P. in a report on Friday, July 14th. Barclays PLC cut their price target on Black Stone Minerals, L.P. from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Thursday, July 13th. Finally, BidaskClub upgraded Black Stone Minerals, L.P. from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. Black Stone Minerals, L.P. presently has a consensus rating of “Hold” and a consensus price target of $19.00.

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In other Black Stone Minerals, L.P. news, Director Alexander D. Stuart acquired 18,650 shares of the business’s stock in a transaction dated Friday, June 9th. The shares were purchased at an average cost of $16.00 per share, for a total transaction of $298,400.00. Following the transaction, the director now owns 310,698 shares in the company, valued at $4,971,168. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas L. Carter, Jr. acquired 7,750 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was acquired at an average price of $15.86 per share, for a total transaction of $122,915.00. Following the completion of the transaction, the chief executive officer now owns 1,124,273 shares in the company, valued at approximately $17,830,969.78. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 44,000 shares of company stock worth $719,635. Corporate insiders own 24.30% of the company’s stock.

Several large investors have recently modified their holdings of BSM. Evergreen Capital Management LLC acquired a new stake in shares of Black Stone Minerals, L.P. during the second quarter worth $8,726,000. Private Wealth Partners LLC purchased a new stake in Black Stone Minerals, L.P. during the second quarter valued at $394,000. Kempner Capital Management Inc. raised its stake in Black Stone Minerals, L.P. by 7.4% in the second quarter. Kempner Capital Management Inc. now owns 73,009 shares of the oil and gas producer’s stock valued at $1,151,000 after buying an additional 5,000 shares in the last quarter. Bank of Montreal Can purchased a new stake in Black Stone Minerals, L.P. during the second quarter valued at $1,343,000. Finally, Goldman Sachs Group Inc. raised its stake in Black Stone Minerals, L.P. by 54.8% in the first quarter. Goldman Sachs Group Inc. now owns 995,362 shares of the oil and gas producer’s stock valued at $16,433,000 after buying an additional 352,537 shares in the last quarter. Hedge funds and other institutional investors own 24.83% of the company’s stock.

Black Stone Minerals, L.P. Company Profile

Black Stone Minerals, L.P. is an owner of oil and natural gas mineral interests in the United States. The Company’s principal business is maximizing the value of its existing portfolio of mineral and royalty assets through active management and expanding its asset base through acquisitions of additional mineral and royalty interests.

Earnings History for Black Stone Minerals, L.P. (NYSE:BSM)

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