Lucas Capital Management increased its stake in Black Stone Minerals LP (NYSE:BSM) by 16.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 181,334 shares of the company’s stock after buying an additional 25,117 shares during the period. Black Stone Minerals comprises 2.0% of Lucas Capital Management’s holdings, making the stock its 17th largest position. Lucas Capital Management’s holdings in Black Stone Minerals were worth $2,811,000 as of its most recent SEC filing.
A number of other large investors also recently bought and sold shares of BSM. Royal Bank of Canada raised its stake in Black Stone Minerals by 26.0% in the first quarter. Royal Bank of Canada now owns 18,547 shares of the company’s stock valued at $260,000 after buying an additional 3,829 shares during the period. State Street Corp raised its stake in Black Stone Minerals by 3.9% in the first quarter. State Street Corp now owns 21,199 shares of the company’s stock valued at $297,000 after buying an additional 794 shares during the period. Bank of Montreal Can bought a new stake in Black Stone Minerals during the second quarter valued at $412,000. Quotient Investors LLC raised its stake in Black Stone Minerals by 1.5% in the second quarter. Quotient Investors LLC now owns 27,300 shares of the company’s stock valued at $423,000 after buying an additional 400 shares during the period. Finally, Franklin Street Advisors Inc. NC raised its stake in Black Stone Minerals by 40.0% in the second quarter. Franklin Street Advisors Inc. NC now owns 28,000 shares of the company’s stock valued at $434,000 after buying an additional 8,000 shares during the period. Hedge funds and other institutional investors own 16.23% of the company’s stock.
Black Stone Minerals LP (NYSE:BSM) traded up 0.17% during mid-day trading on Tuesday, hitting $17.57. The stock had a trading volume of 130,526 shares. The firm’s market capitalization is $3.35 billion. Black Stone Minerals LP has a one year low of $10.71 and a one year high of $19.65. The stock’s 50 day moving average price is $17.04 and its 200 day moving average price is $15.78.
Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of $0.11 by $0.26. Black Stone Minerals had a negative net margin of 3.72% and a positive return on equity of 6.16%. The company had revenue of $40.57 million for the quarter, compared to analyst estimates of $77.50 million. Analysts forecast that Black Stone Minerals LP will post $0.49 EPS for the current year.
Several brokerages have commented on BSM. Zacks Investment Research raised Black Stone Minerals from a “sell” rating to a “hold” rating in a research report on Friday, August 12th. Barclays PLC lifted their price target on Black Stone Minerals from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 16th. Finally, Stifel Nicolaus initiated coverage on Black Stone Minerals in a research report on Tuesday, September 6th. They set a “buy” rating and a $19.00 price objective on the stock. 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 stock presently has a consensus rating of “Buy” and an average target price of $18.40.
Black Stone Minerals 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 managing its existing portfolio of mineral and royalty assets to maximize its value and expanding its asset base through acquisitions of additional mineral and royalty interests.
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