Black Stone Minerals (BSM) Cut to Hold at Zacks Investment Research

Black Stone Minerals (NYSE:BSM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

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. “

BSM has been the topic of a number of other reports. Stifel Nicolaus reissued a “buy” rating and set a $18.00 price target on shares of Black Stone Minerals in a research report on Friday, September 22nd. Barclays set a $18.00 price target on shares of Black Stone Minerals and gave the company a “buy” rating in a research report on Thursday, December 14th. TheStreet lowered shares of Black Stone Minerals from a “b-” rating to a “c” rating in a research report on Monday, October 30th. Finally, Piper Jaffray Companies dropped their price target on shares of Black Stone Minerals from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, September 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $19.00.

Black Stone Minerals (BSM) traded down $0.04 on Thursday, hitting $18.35. 155,000 shares of the company were exchanged, compared to its average volume of 181,257. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.98 and a quick ratio of 1.98. Black Stone Minerals has a one year low of $15.12 and a one year high of $19.45. The company has a market capitalization of $3,730.00 and a price-to-earnings ratio of 28.23.

In related news, CFO Jeffrey P. Wood sold 10,810 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $18.30, for a total transaction of $197,823.00. Following the completion of the sale, the chief financial officer now owns 53,031 shares in the company, valued at $970,467.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Luke Stevens Putman sold 23,170 shares of Black Stone Minerals stock in a transaction dated Wednesday, January 10th. The stock was sold at an average price of $18.28, for a total transaction of $423,547.60. Following the completion of the transaction, the senior vice president now owns 257,141 shares of the company’s stock, valued at approximately $4,700,537.48. The disclosure for this sale can be found here. Company insiders own 25.00% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of BSM. Alliancebernstein L.P. increased its stake in shares of Black Stone Minerals by 5.9% in the second quarter. Alliancebernstein L.P. now owns 18,468 shares of the oil and gas producer’s stock worth $291,000 after purchasing an additional 1,034 shares in the last quarter. EdgePoint Investment Group Inc. purchased a new position in shares of Black Stone Minerals in the second quarter worth about $3,392,000. GSA Capital Partners LLP increased its stake in shares of Black Stone Minerals by 194.4% in the second quarter. GSA Capital Partners LLP now owns 143,100 shares of the oil and gas producer’s stock worth $2,255,000 after purchasing an additional 94,495 shares in the last quarter. FMR LLC increased its stake in shares of Black Stone Minerals by 7.7% in the second quarter. FMR LLC now owns 1,766,800 shares of the oil and gas producer’s stock worth $27,845,000 after purchasing an additional 127,052 shares in the last quarter. Finally, Yost Capital Management L.L.C. increased its stake in shares of Black Stone Minerals by 17.3% in the second quarter. Yost Capital Management L.L.C. now owns 153,792 shares of the oil and gas producer’s stock worth $2,424,000 after purchasing an additional 22,669 shares in the last quarter. Hedge funds and other institutional investors own 21.98% of the company’s stock.

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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 maximizing the value of its existing portfolio of mineral and royalty assets through active management and expanding its asset base through acquisitions of additional mineral and royalty interests.

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