Q1 2024 EPS Estimates for Black Stone Minerals, L.P. Reduced by Analyst (NYSE:BSM)

Black Stone Minerals, L.P. (NYSE:BSM – Get Rating) – Investment analysts at KeyCorp cut their Q1 2024 earnings per share estimates for shares of Black Stone Minerals in a report issued on Monday, March 6th. KeyCorp analyst T. Rezvan now forecasts that the oil and gas producer will post earnings of $0.49 per share for the quarter, down from their prior estimate of $0.54. KeyCorp has a “Overweight” rating and a $21.00 price objective on the stock. The consensus estimate for Black Stone Minerals’ current full-year earnings is $1.90 per share. KeyCorp also issued estimates for Black Stone Minerals’ Q4 2024 earnings at $0.51 EPS.

Other equities research analysts have also issued research reports about the company. Piper Sandler lowered their price objective on Black Stone Minerals from $18.00 to $17.00 and set a “neutral” rating on the stock in a report on Tuesday. StockNews.com upgraded shares of Black Stone Minerals from a “buy” rating to a “strong-buy” rating in a research report on Monday. Finally, Raymond James downgraded shares of Black Stone Minerals from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $20.00 to $19.00 in a research report on Monday, February 6th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $19.00.

Black Stone Minerals Price Performance

Shares of BSM opened at $14.99 on Wednesday. Black Stone Minerals has a twelve month low of $11.43 and a twelve month high of $20.24. The stock’s 50 day moving average is $16.04 and its two-hundred day moving average is $16.75. The firm has a market capitalization of $3.14 billion, a PE ratio of 7.14 and a beta of 1.04. The company has a current ratio of 5.64, a quick ratio of 5.64 and a debt-to-equity ratio of 0.01.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BSM. Money Concepts Capital Corp acquired a new position in Black Stone Minerals in the 4th quarter valued at $30,000. CoreCap Advisors LLC acquired a new position in Black Stone Minerals in the 2nd quarter valued at $49,000. Optimum Investment Advisors acquired a new position in Black Stone Minerals in the 4th quarter valued at $51,000. Clearstead Advisors LLC acquired a new position in Black Stone Minerals in the 3rd quarter valued at $51,000. Finally, Steward Financial Group LLC acquired a new position in Black Stone Minerals in the 4th quarter valued at $58,000. 16.46% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Thomas L. Carter, Jr. acquired 30,000 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was purchased at an average cost of $15.58 per share, for a total transaction of $467,400.00. Following the transaction, the chief executive officer now directly owns 2,620,991 shares of the company’s stock, valued at approximately $40,835,039.78. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CEO Thomas L. Carter, Jr. acquired 30,000 shares of the business’s stock in a transaction that occurred on Monday, February 27th. The stock was purchased at an average cost of $15.58 per share, for a total transaction of $467,400.00. Following the transaction, the chief executive officer now directly owns 2,620,991 shares of the company’s stock, valued at approximately $40,835,039.78. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Thomas L. Carter, Jr. acquired 32,500 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The shares were bought at an average price of $15.32 per share, with a total value of $497,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,590,991 shares in the company, valued at $39,693,982.12. The disclosure for this purchase can be found here. In the last three months, insiders purchased 93,650 shares of company stock worth $1,459,028. Company insiders own 20.50% of the company’s stock.

Black Stone Minerals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 23rd. Stockholders of record on Thursday, February 16th were given a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 12.68%. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.45. The ex-dividend date of this dividend was Wednesday, February 15th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 90.48%.

About Black Stone Minerals

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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.