Zacks Investment Research upgraded shares of Black Stone Minerals (NYSE:BSM) from a strong sell rating to a hold rating in a research note published on Wednesday, September 19th.
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 research analysts also recently issued reports on BSM. Scotiabank upgraded shares of Black Stone Minerals from a sector perform rating to an outperform rating in a report on Monday, June 25th. Stifel Nicolaus set a $21.00 price objective on shares of Black Stone Minerals and gave the stock a buy rating in a report on Tuesday, August 7th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $20.00.
Black Stone Minerals stock traded up $0.17 on Wednesday, reaching $17.62. 73,657 shares of the stock were exchanged, compared to its average volume of 142,319. The firm has a market cap of $3.69 billion, a price-to-earnings ratio of 17.45 and a beta of 0.38. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.16 and a quick ratio of 1.16. Black Stone Minerals has a twelve month low of $16.36 and a twelve month high of $19.29.
Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, August 6th. The oil and gas producer reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.08). The firm had revenue of $109.31 million for the quarter, compared to analyst estimates of $122.98 million. Black Stone Minerals had a return on equity of 9.32% and a net margin of 17.79%. As a group, sell-side analysts expect that Black Stone Minerals will post 0.87 earnings per share for the current year.
In related news, SVP Brock Morris sold 17,400 shares of the company’s stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $18.58, for a total value of $323,292.00. Following the sale, the senior vice president now owns 299,990 shares of the company’s stock, valued at $5,573,814.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 25.10% of the company’s stock.
Large investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. bought a new stake in Black Stone Minerals in the first quarter valued at approximately $185,000. Tower Research Capital LLC TRC increased its stake in Black Stone Minerals by 176.9% in the second quarter. Tower Research Capital LLC TRC now owns 15,791 shares of the oil and gas producer’s stock valued at $292,000 after purchasing an additional 10,089 shares in the last quarter. California Public Employees Retirement System bought a new stake in Black Stone Minerals in the second quarter valued at approximately $323,000. Penn Davis Mcfarland Inc. bought a new stake in Black Stone Minerals in the second quarter valued at approximately $324,000. Finally, Citadel Advisors LLC increased its stake in Black Stone Minerals by 82.6% in the first quarter. Citadel Advisors LLC now owns 24,650 shares of the oil and gas producer’s stock valued at $408,000 after purchasing an additional 11,150 shares in the last quarter. 13.19% of the stock is owned by hedge funds and other institutional investors.
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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