Black Stone Minerals, L.P. (NYSE:BSM) issued its quarterly earnings data on Monday. The oil and gas producer reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.14, Morningstar.com reports. Black Stone Minerals, L.P. had a return on equity of 5.40% and a net margin of 11.88%. The business had revenue of $120.52 million for the quarter, compared to the consensus estimate of $95.87 million.

Shares of Black Stone Minerals, L.P. (NYSE:BSM) traded down 0.273% on Tuesday, hitting $16.455. The company had a trading volume of 88,214 shares. The firm has a 50 day moving average of $15.99 and a 200-day moving average of $16.77. The firm has a market capitalization of $3.18 billion, a P/E ratio of 47.974 and a beta of 0.30. Black Stone Minerals, L.P. has a 12-month low of $15.12 and a 12-month high of $19.86.

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A number of research analysts recently weighed in on BSM shares. BidaskClub raised Black Stone Minerals, L.P. from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 28th. Barclays PLC cut their price objective on Black Stone Minerals, L.P. from $19.00 to $17.00 and set an “overweight” rating on the stock in a research note on Thursday, July 13th. Stifel Nicolaus reissued a “buy” rating and issued a $18.00 price objective on shares of Black Stone Minerals, L.P. in a research note on Friday, July 14th. Zacks Investment Research downgraded Black Stone Minerals, L.P. from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. Finally, TheStreet raised Black Stone Minerals, L.P. from a “d+” rating to a “c” rating in a research note on Thursday, June 8th. One equities 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 company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $19.00.

In related news, CEO Thomas L. Carter, Jr. bought 17,600 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The shares were acquired at an average price of $16.95 per share, for a total transaction of $298,320.00. Following the completion of the acquisition, the chief executive officer now owns 1,110,923 shares of the company’s stock, valued at approximately $18,830,144.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Alexander D. Stuart bought 18,650 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were bought at an average price of $16.00 per share, for a total transaction of $298,400.00. Following the acquisition, the director now directly owns 310,698 shares of the company’s stock, valued at approximately $4,971,168. The disclosure for this purchase can be found here. Insiders have purchased 44,000 shares of company stock worth $719,635 in the last quarter. 24.30% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. FMR LLC raised its stake in Black Stone Minerals, L.P. by 0.5% in the first quarter. FMR LLC now owns 1,639,748 shares of the oil and gas producer’s stock valued at $27,072,000 after buying an additional 8,548 shares during the last quarter. Alliancebernstein L.P. raised its stake in Black Stone Minerals, L.P. by 40.6% in the first quarter. Alliancebernstein L.P. now owns 17,434 shares of the oil and gas producer’s stock valued at $288,000 after buying an additional 5,034 shares during the last quarter. Clinton Group Inc. bought a new stake in Black Stone Minerals, L.P. during the first quarter valued at about $743,000. Stifel Financial Corp raised its stake in Black Stone Minerals, L.P. by 65.5% in the first quarter. Stifel Financial Corp now owns 55,722 shares of the oil and gas producer’s stock valued at $920,000 after buying an additional 22,061 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. raised its stake in Black Stone Minerals, L.P. by 8.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 11,900 shares of the oil and gas producer’s stock valued at $196,000 after buying an additional 902 shares during the last quarter. Institutional investors and hedge funds 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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