Zacks Investment Research Upgrades Black Stone Minerals (BSM) to “Hold”

Black Stone Minerals (NYSE:BSM) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday.

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 research firms have also issued reports on BSM. Stifel Nicolaus began coverage on Black Stone Minerals in a report on Wednesday, January 17th. They issued a “hold” rating and a $19.00 target price on the stock. TheStreet raised Black Stone Minerals from a “c” rating to a “b-” rating in a report on Monday, April 30th. Finally, Citigroup lowered their target price on 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 investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $19.50.

BSM traded up $0.04 during midday trading on Tuesday, reaching $18.58. The company’s stock had a trading volume of 149,000 shares, compared to its average volume of 152,682. The firm has a market capitalization of $3.69 billion, a P/E ratio of 18.40 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 twelve month low of $18.42 and a twelve month high of $18.62.

Black Stone Minerals (NYSE:BSM) last released its 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 for the quarter, compared to analyst estimates of $106.00 million. Black Stone Minerals had a return on equity of 11.19% and a net margin of 20.78%. analysts anticipate that Black Stone Minerals will post 0.81 earnings per share for the current year.

In other Black Stone Minerals news, SVP Luke Stevens Putman sold 25,000 shares of the firm’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 in the company, valued at approximately $4,862,243.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Dawn Smajstrla sold 6,664 shares of the firm’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 of the company’s stock, valued at approximately $405,146.22. 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 quarter. Corporate insiders own 25.00% of the company’s stock.

Several hedge funds have recently made changes to their positions in BSM. Tower Research Capital LLC TRC bought a new stake in shares of Black Stone Minerals in the 4th quarter worth approximately $170,000. Rockefeller Capital Management L.P. bought a new stake in shares of Black Stone Minerals in the 1st quarter worth approximately $185,000. Acadian Asset Management LLC bought a new stake in shares of Black Stone Minerals in the 4th quarter worth approximately $221,000. Jane Street Group LLC bought a new stake in shares of Black Stone Minerals in the 4th quarter worth approximately $221,000. Finally, Renaissance Technologies LLC bought a new stake in shares of Black Stone Minerals in the 4th quarter worth approximately $245,000. Institutional investors own 10.66% of the company’s stock.

Black Stone Minerals Company Profile

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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Analyst Recommendations for Black Stone Minerals (NYSE:BSM)

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