Black Stone Minerals, L.P. Expected to Post Q2 2023 Earnings of $0.37 Per Share (NYSE:BSM)

Posted by Defense World Staff on May 5th, 2023

Black Stone Minerals, L.P. (NYSE:BSM – Get Rating) – Stock analysts at KeyCorp lowered their Q2 2023 earnings per share estimates for shares of Black Stone Minerals in a research note issued to investors on Tuesday, May 2nd. KeyCorp analyst T. Rezvan now forecasts that the oil and gas producer will post earnings of $0.37 per share for the quarter, down from their prior forecast of $0.44. The consensus estimate for Black Stone Minerals’ current full-year earnings is $1.85 per share. KeyCorp also issued estimates for Black Stone Minerals’ Q3 2023 earnings at $0.39 EPS, Q4 2023 earnings at $0.42 EPS, Q1 2024 earnings at $0.37 EPS, Q2 2024 earnings at $0.37 EPS, Q3 2024 earnings at $0.37 EPS and Q4 2024 earnings at $0.40 EPS.

A number of other research analysts also recently commented on the stock. Piper Sandler lowered their price target on shares of Black Stone Minerals from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Wednesday, April 19th. StockNews.com downgraded shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Raymond James increased their price objective on shares of Black Stone Minerals from $19.00 to $21.00 and gave the stock an “outperform” rating in a research report on Friday, April 21st. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.25.

Black Stone Minerals Price Performance

Shares of NYSE BSM opened at $15.07 on Thursday. Black Stone Minerals has a twelve month low of $12.81 and a twelve month high of $20.24. The firm has a market cap of $3.16 billion, a P/E ratio of 5.46 and a beta of 1.04. The company has a 50 day moving average of $15.60 and a 200 day moving average of $16.59. The company has a quick ratio of 5.64, a current ratio of 5.64 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BSM. Morgan Stanley increased its holdings in Black Stone Minerals by 144.9% in the fourth quarter. Morgan Stanley now owns 4,004,701 shares of the oil and gas producer’s stock worth $67,559,000 after purchasing an additional 2,369,656 shares in the last quarter. UBS Group AG grew its holdings in Black Stone Minerals by 12,416.2% during the first quarter. UBS Group AG now owns 1,587,809 shares of the oil and gas producer’s stock worth $21,372,000 after buying an additional 1,575,123 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Black Stone Minerals by 239.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,152,661 shares of the oil and gas producer’s stock worth $19,445,000 after purchasing an additional 812,840 shares during the last quarter. Epacria Capital Partners LLC purchased a new position in shares of Black Stone Minerals during the 4th quarter valued at $12,149,000. Finally, Natixis lifted its position in shares of Black Stone Minerals by 97.9% during the 4th quarter. Natixis now owns 1,409,600 shares of the oil and gas producer’s stock valued at $23,780,000 after buying an additional 697,400 shares during the last quarter. 16.46% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director D Mark Dewalch purchased 31,150 shares of the stock in a transaction on Monday, March 6th. The shares were bought at an average price of $15.85 per share, for a total transaction of $493,727.50. Following the completion of the acquisition, the director now directly owns 260,879 shares in the company, valued at approximately $4,134,932.15. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director D Mark Dewalch acquired 31,150 shares of the business’s stock in a transaction on Monday, March 6th. The stock was bought at an average cost of $15.85 per share, with a total value of $493,727.50. Following the completion of the acquisition, the director now owns 260,879 shares in the company, valued at $4,134,932.15. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Thomas L. Carter, Jr. purchased 30,000 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was acquired at an average cost of $15.58 per share, with a total value of $467,400.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,620,991 shares of the company’s stock, valued at $40,835,039.78. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 93,650 shares of company stock worth $1,459,028. Corporate insiders own 21.10% of the company’s stock.

Black Stone Minerals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 19th. Investors of record on Friday, May 12th will be given a $0.475 dividend. The ex-dividend date is Thursday, May 11th. This represents a $1.90 dividend on an annualized basis and a yield of 12.61%. Black Stone Minerals’s dividend payout ratio is presently 68.84%.

Black Stone Minerals Company Profile

(Get Rating)

Black Stone Minerals LP is an exploration company. The firm engages in the exploration of oil and natural gas minerals. It focuses on the operation of Louisiana-Mississippi Salt Basins, Western Gulf, Permian Basin, Palo Duro Basin, East Texas Basin, Anadarko Basin, Appalachian Basin, Arkoma Basin, Bend Arch-Fort Worth, and Southwestern Wyoming.