Black Stone Minerals (NYSE:BSM) Rating Lowered to Hold at Zacks Research

Black Stone Minerals (NYSE:BSM) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other equities research analysts also recently issued reports about the company. KeyCorp reiterated a “sector weight” rating on shares of Black Stone Minerals in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Black Stone Minerals in a report on Monday, December 29th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.00.

Black Stone Minerals Stock Performance

BSM stock opened at $14.85 on Wednesday. The stock has a market capitalization of $3.15 billion, a PE ratio of 12.91 and a beta of 0.18. Black Stone Minerals has a 12-month low of $11.78 and a 12-month high of $15.52. The company has a current ratio of 4.37, a quick ratio of 4.37 and a debt-to-equity ratio of 0.12. The stock’s 50 day simple moving average is $14.11 and its 200 day simple moving average is $13.27.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. Black Stone Minerals had a return on equity of 40.08% and a net margin of 61.31%.The business had revenue of $132.47 million during the quarter, compared to analyst estimates of $106.20 million. As a group, research analysts forecast that Black Stone Minerals will post 1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Black Stone Minerals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Global Retirement Partners LLC bought a new position in Black Stone Minerals in the second quarter worth approximately $385,000. Tweedy Browne Co LLC purchased a new stake in shares of Black Stone Minerals in the 2nd quarter worth $273,000. Americana Partners LLC bought a new position in Black Stone Minerals in the 3rd quarter worth $532,000. Grandfield & Dodd LLC bought a new position in Black Stone Minerals in the 2nd quarter worth $397,000. Finally, Investment Management Associates Inc. ADV lifted its position in Black Stone Minerals by 2.8% during the second quarter. Investment Management Associates Inc. ADV now owns 1,577,887 shares of the oil and gas producer’s stock valued at $20,639,000 after purchasing an additional 42,553 shares in the last quarter. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Company Profile

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.