Zacks Investment Research upgraded shares of Black Stone Minerals (NYSE:BSM) from a hold rating to a strong-buy rating in a report released on Wednesday morning. The firm currently has $21.00 target price on the oil and gas producer’s stock.
According to Zacks, “Black Stone Minerals, L.P. is the owner of oil and natural gas mineral primarily in the United States. Black Stone Minerals, L.P. is based in Houston, United States. “
Several other brokerages also recently weighed in on BSM. TheStreet upgraded shares of Black Stone Minerals from a c rating to a b- rating in a report on Monday, April 30th. Stifel Nicolaus upgraded shares of Black Stone Minerals from a hold rating to a buy rating and increased their price target for the stock from $18.00 to $20.00 in a report on Tuesday, May 8th. Finally, Citigroup cut their price target on shares of Black Stone Minerals from $21.00 to $20.00 and set a buy rating on the stock in a report on Wednesday, March 28th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $19.67.
Black Stone Minerals opened at $18.05 on Wednesday, according to MarketBeat Ratings. Black Stone Minerals has a 52-week low of $15.12 and a 52-week high of $19.03. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a market cap of $3.67 billion, a PE ratio of 17.87 and a beta of 0.39.
Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, May 7th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.23. Black Stone Minerals had a net margin of 20.78% and a return on equity of 11.19%. The firm had revenue of $114.49 million for the quarter, compared to the consensus estimate of $106.00 million. analysts anticipate that Black Stone Minerals will post 1.01 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, May 24th. Investors of record on Thursday, May 17th were issued a $0.313 dividend. This represents a $1.25 annualized dividend and a yield of 6.94%. The ex-dividend date was Wednesday, May 16th. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.31. Black Stone Minerals’s dividend payout ratio is 123.76%.
In other Black Stone Minerals news, VP Dawn Smajstrla sold 6,664 shares of the company’s stock in a transaction that occurred on Thursday, March 1st. The stock was sold at an average price of $17.23, for a total value of $114,820.72. Following the sale, the vice president now owns 23,514 shares in the company, valued at approximately $405,146.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Thomas L. Carter, Jr. acquired 14,240 shares of the stock in a transaction on Thursday, March 1st. The stock was bought at an average price of $17.26 per share, for a total transaction of $245,782.40. Following the transaction, the chief executive officer now owns 972,182 shares in the company, valued at approximately $16,779,861.32. The disclosure for this purchase can be found here. In the last quarter, insiders sold 56,664 shares of company stock worth $985,821. 25.10% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in BSM. Bank of Montreal Can boosted its position in Black Stone Minerals by 6.3% in the 4th quarter. Bank of Montreal Can now owns 90,527 shares of the oil and gas producer’s stock worth $1,624,000 after purchasing an additional 5,327 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Black Stone Minerals in the 4th quarter worth approximately $221,000. CI Global Investments Inc. boosted its position in Black Stone Minerals by 71.8% in the 4th quarter. CI Global Investments Inc. now owns 2,808,151 shares of the oil and gas producer’s stock worth $50,378,000 after purchasing an additional 1,173,754 shares in the last quarter. Wells Fargo & Company MN boosted its position in Black Stone Minerals by 432.5% in the 4th quarter. Wells Fargo & Company MN now owns 27,704 shares of the oil and gas producer’s stock worth $497,000 after purchasing an additional 22,501 shares in the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in Black Stone Minerals in the 4th quarter worth approximately $170,000. Institutional investors and hedge funds own 11.42% of the company’s stock.
About Black Stone Minerals
Black Stone Minerals, L.P. owns and manages oil and natural gas mineral interests in the United States. The company owns mineral interests in approximately 16.8 million acres, nonparticipating royalty interests in 1.9 million acres, and overriding royalty interests in 2.1 million acres located in 41 states and in 64 onshore basins in the continental United States.
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