Zacks Investment Research upgraded shares of Black Stone Minerals (NYSE:BSM) from a strong sell rating to a hold rating in a research report report published on Tuesday morning.
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. “
A number of other analysts also recently issued reports on BSM. Stifel Nicolaus initiated coverage on Black Stone Minerals in a research report on Wednesday, January 17th. They set a hold rating and a $19.00 price target for the company. Citigroup dropped their price target on Black Stone Minerals from $21.00 to $20.00 and set a buy rating for the company in a research report on Wednesday, March 28th. Finally, TheStreet upgraded Black Stone Minerals from a c rating to a b- rating in a research report on Monday, April 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $19.50.
Shares of BSM opened at $18.58 on Tuesday. The stock has a market cap of $3.70 billion, a PE ratio of 21.56 and a beta of 0.39. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.55. Black Stone Minerals has a 12-month low of $18.42 and a 12-month high of $18.62.
Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, May 7th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.23. The firm had revenue of $114.49 million during the quarter, compared to the consensus estimate of $106.00 million. Black Stone Minerals had a return on equity of 11.19% and a net margin of 20.78%. equities analysts forecast that Black Stone Minerals will post 0.88 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, May 24th. Investors of record on Thursday, May 17th will be given a $0.313 dividend. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.31. The ex-dividend date of this dividend is Wednesday, May 16th. This represents a $1.25 dividend on an annualized basis and a yield of 6.74%. Black Stone Minerals’s payout ratio is presently 123.76%.
In related news, VP Dawn Smajstrla sold 6,664 shares of the business’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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Luke Stevens Putman sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, April 16th. The stock was sold at an average price of $17.53, for a total value of $438,250.00. Following the completion of the sale, the senior vice president now owns 277,367 shares of the company’s stock, valued at approximately $4,862,243.51. The disclosure for this sale can be found here. Insiders sold a total of 56,664 shares of company stock valued at $985,821 in the last 90 days. 25.00% of the stock is currently owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in BSM. Bank of Montreal Can lifted 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 buying an additional 5,327 shares during the last quarter. Acadian Asset Management LLC bought a new stake in Black Stone Minerals in the 4th quarter worth approximately $221,000. CI Global Investments Inc. increased its stake 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 during the period. Wells Fargo & Company MN increased its stake 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 during the period. Finally, Tower Research Capital LLC TRC purchased a new position in Black Stone Minerals in the 4th quarter worth approximately $170,000. Institutional investors own 10.66% 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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