Black Stone Minerals (BSM) Upgraded to “Buy” by Zacks Investment Research

Black Stone Minerals (NYSE:BSM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday, March 12th. The brokerage presently has a $20.00 price objective on the oil and gas producer’s stock. Zacks Investment Research‘s price target would suggest a potential upside of 20.85% from the stock’s previous close.

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. “

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BSM has been the topic of several other reports. Stifel Nicolaus set a $18.00 price target on Black Stone Minerals and gave the stock a “hold” rating in a research report on Wednesday, February 28th. Barclays set a $18.00 price objective on Black Stone Minerals and gave the stock a “buy” rating in a research report on Thursday, December 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $19.17.

NYSE:BSM opened at $16.55 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.47 and a current ratio of 1.47. Black Stone Minerals has a 1 year low of $15.12 and a 1 year high of $19.03. The company has a market cap of $3,310.13, a P/E ratio of 16.72 and a beta of 0.37.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Monday, February 26th. The oil and gas producer reported $0.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.02). Black Stone Minerals had a return on equity of 12.93% and a net margin of 22.90%. The company had revenue of $95.44 million for the quarter, compared to the consensus estimate of $106.55 million. research analysts forecast that Black Stone Minerals will post 0.81 earnings per share for the current fiscal year.

In other news, SVP Brock Morris sold 25,000 shares of Black Stone Minerals stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $17.31, for a total value of $432,750.00. Following the sale, the senior vice president now directly owns 321,825 shares in the company, valued at approximately $5,570,790.75. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Dawn Smajstrla sold 6,664 shares of Black Stone Minerals 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 $405,146.22. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,644 shares of company stock worth $1,168,941. Corporate insiders own 25.00% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BSM. Tower Research Capital LLC TRC bought a new stake in shares of Black Stone Minerals during the fourth quarter valued at approximately $170,000. Acadian Asset Management LLC bought a new stake in shares of Black Stone Minerals during the fourth quarter valued at approximately $221,000. Jane Street Group LLC bought a new stake in shares of Black Stone Minerals during the fourth quarter valued at approximately $221,000. Renaissance Technologies LLC bought a new stake in shares of Black Stone Minerals during the fourth quarter valued at approximately $245,000. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Black Stone Minerals during the fourth quarter valued at approximately $297,000. Institutional investors own 22.74% 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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Analyst Recommendations for Black Stone Minerals (NYSE:BSM)

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