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BSM

Black Stone Minerals

$13.29

0.235 (1.80%)

16:36
11/04/19
11/04
16:36
11/04/19
16:36

Black Stone Minerals reports Q3 EPS 32c, consensus 29c

Reports Q3 revenue $137.37M, consensus $139.5M. Reported production of 49.0 MBoe/d for the third quarter of 2019, driven by a 14% year-over-year increase in royalty production. Thomas L. Carter, Jr., Black Stone Minerals' Chief Executive Officer and Chairman, commented, "The trend of strong royalty production growth continues to drive our business forward. Despite headwinds from weaker commodity pricing, Black Stone maintained its distribution at an annualized $1.48 per unit and utilized excess distribution coverage to reduce debt by over $20 million in the quarter. We continue to see strong permitting activity and well additions across our acreage, and we are on pace this year to exceed the almost 1,500 new wells added in 2018. Our solid balance sheet and large, diverse set of assets position us well to succeed in this challenging market."

  • 05

    Nov

BSM Black Stone Minerals
$13.29

0.235 (1.80%)

04/18/19
RBCM
04/18/19
INITIATION
Target $23
RBCM
Outperform
Black Stone Minerals initiated with an Outperform at RBC Capital
RBC Capital analyst TJ Schultz initiated Black Stone Minerals with an Outperform rating and a price target of $23, saying the company has the "right plan in place" to maintain its "steady" distributions in spite of its "unique" for minerals space MLP structure. The analyst is positive on Black Stone Minerals' "active management strategy" which leverages its team of scientists to sites with "significant minerals position" and then promoting this acreage to industry operators.
07/11/19
JONE
07/11/19
INITIATION
JONE
Buy
Black Stone Minerals initiated with a Buy at JonesTrading
JonesTrading analyst Eduardo Seda initiated Black Stone Minerals with a Buy rating and $22 price target.
10/03/19
WELS
10/03/19
INITIATION
Target $19
WELS
Market Perform
Black Stone Minerals initiated with a Market Perform at Wells Fargo
Wells Fargo analyst Gordon Douthat initiated Black Stone Minerals with a Market Perform rating and a price target of $19. The analyst is positive on the company's 20M gross acre asset base span with diversification "geographically and operationally" along with "significant" shale exposure. Douhat notes however that Black Stone's exposure to natural gas is relatively "outsized" at over 70% of the total production/ reserves, adding that there is also uncertainty related to its volume growth potential in 2021 and beyond.

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