Black Stone Minerals LP (BSM) Expected to Post Quarterly Sales of $131.96 Million

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Wall Street brokerages expect Black Stone Minerals LP (NYSE:BSM) to post $131.96 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Black Stone Minerals’ earnings. The highest sales estimate is $136.75 million and the lowest is $129.00 million. Black Stone Minerals posted sales of $114.49 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 15.3%. The business is expected to announce its next quarterly earnings results after the market closes on Monday, May 6th.

On average, analysts expect that Black Stone Minerals will report full-year sales of $540.66 million for the current year, with estimates ranging from $522.00 million to $551.68 million. For the next financial year, analysts expect that the company will post sales of $576.58 million, with estimates ranging from $546.00 million to $636.92 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover Black Stone Minerals.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, February 25th. The oil and gas producer reported $0.72 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.44. Black Stone Minerals had a net margin of 38.58% and a return on equity of 28.67%. The business had revenue of $246.05 million during the quarter, compared to the consensus estimate of $137.77 million.

Several research firms have recently commented on BSM. Raymond James set a $21.00 price objective on shares of Black Stone Minerals and gave the stock a “buy” rating in a research note on Wednesday, January 23rd. Royal Bank of Canada assumed coverage on shares of Black Stone Minerals in a report on Thursday, April 18th. They issued an “outperform” rating and a $23.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 20th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $21.50.

Shares of NYSE:BSM traded up $0.43 on Friday, hitting $18.43. 1,840 shares of the company were exchanged, compared to its average volume of 143,094. Black Stone Minerals has a 1-year low of $15.23 and a 1-year high of $19.29. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $3.72 billion, a P/E ratio of 12.60 and a beta of 0.63.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 16th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.48 annualized dividend and a yield of 8.03%. Black Stone Minerals’s payout ratio is 102.07%.

In other Black Stone Minerals news, SVP Luke Stevens Putman sold 18,783 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $17.32, for a total value of $325,321.56. Following the sale, the senior vice president now directly owns 304,910 shares of the company’s stock, valued at approximately $5,281,041.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Jeffrey P. Wood sold 8,000 shares of the stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $17.51, for a total transaction of $140,080.00. Following the completion of the sale, the chief financial officer now directly owns 110,219 shares in the company, valued at $1,929,934.69. The disclosure for this sale can be found here. Insiders sold a total of 139,264 shares of company stock worth $2,421,712 over the last quarter. 25.10% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in BSM. Private Wealth Partners LLC boosted its holdings in shares of Black Stone Minerals by 17.9% in the 1st quarter. Private Wealth Partners LLC now owns 151,150 shares of the oil and gas producer’s stock valued at $2,666,000 after buying an additional 22,950 shares in the last quarter. Alps Advisors Inc. purchased a new stake in shares of Black Stone Minerals during the first quarter valued at approximately $411,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Black Stone Minerals during the first quarter valued at approximately $697,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Black Stone Minerals during the first quarter valued at approximately $71,000. Finally, Kempner Capital Management Inc. raised its stake in shares of Black Stone Minerals by 1.1% during the first quarter. Kempner Capital Management Inc. now owns 153,489 shares of the oil and gas producer’s stock valued at $2,708,000 after purchasing an additional 1,700 shares during the period. 15.43% of the stock is currently owned by institutional investors.

About Black Stone Minerals

Black Stone Minerals, L.P. owns and manages oil and natural gas mineral interests in the United States. The company owns mineral interests in approximately 16.8 million acres, nonparticipating royalty interests in 1.9 million acres, and overriding royalty interests in 2.1 million acres located in 41 states and 64 onshore basins in the continental United States.

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Earnings History and Estimates for Black Stone Minerals (NYSE:BSM)

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