Piper Jaffray Companies Cuts Black Stone Minerals, L.P. (BSM) Price Target to $19.00

Black Stone Minerals, L.P. (NYSE:BSM) had its price objective trimmed by Piper Jaffray Companies from $20.00 to $19.00 in a report published on Monday morning. The firm currently has an overweight rating on the oil and gas producer’s stock.

Several other research analysts have also issued reports on BSM. TheStreet upgraded Black Stone Minerals, L.P. from a d+ rating to a c rating in a research note on Thursday, June 8th. BidaskClub upgraded Black Stone Minerals, L.P. from a strong sell rating to a sell rating in a research note on Wednesday, June 28th. Zacks Investment Research lowered Black Stone Minerals, L.P. from a hold rating to a sell rating in a research note on Tuesday, July 11th. Barclays PLC dropped their price objective on Black Stone Minerals, L.P. from $19.00 to $17.00 and set an overweight rating for the company in a research note on Thursday, July 13th. Finally, Stifel Nicolaus reiterated a buy rating and set a $18.00 price objective on shares of Black Stone Minerals, L.P. in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $19.00.

Black Stone Minerals, L.P. (NYSE BSM) opened at 17.20 on Monday. Black Stone Minerals, L.P. has a 52-week low of $16.61 and a 52-week high of $19.86. The stock’s 50 day moving average is $17.13 and its 200 day moving average is $17.13. The company has a market cap of $3.37 billion, a price-to-earnings ratio of 23.37 and a beta of 0.28.

Black Stone Minerals, L.P. (NYSE:BSM) last released its quarterly earnings data on Monday, August 7th. The oil and gas producer reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.14. Black Stone Minerals, L.P. had a return on equity of 12.67% and a net margin of 22.71%. The firm had revenue of $120.52 million during the quarter, compared to analyst estimates of $95.87 million. On average, analysts predict that Black Stone Minerals, L.P. will post $0.76 earnings per share for the current fiscal year.

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The firm also recently announced a quarterly dividend, which was paid on Thursday, August 24th. Stockholders of record on Thursday, August 17th were paid a $0.313 dividend. The ex-dividend date was Tuesday, August 15th. This is a positive change from Black Stone Minerals, L.P.’s previous quarterly dividend of $0.29. This represents a $1.25 dividend on an annualized basis and a dividend yield of 7.28%. Black Stone Minerals, L.P.’s dividend payout ratio (DPR) is 150.60%.

Several large investors have recently made changes to their positions in the company. Morgan Stanley increased its stake in shares of Black Stone Minerals, L.P. by 47.9% in the first quarter. Morgan Stanley now owns 2,973,063 shares of the oil and gas producer’s stock valued at $49,086,000 after buying an additional 962,824 shares in the last quarter. FMR LLC increased its stake in shares of Black Stone Minerals, L.P. by 7.7% in the second quarter. FMR LLC now owns 1,766,800 shares of the oil and gas producer’s stock valued at $27,845,000 after buying an additional 127,052 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Black Stone Minerals, L.P. by 54.8% in the second quarter. Goldman Sachs Group Inc. now owns 1,541,051 shares of the oil and gas producer’s stock valued at $24,287,000 after buying an additional 545,689 shares in the last quarter. Evergreen Capital Management LLC acquired a new stake in shares of Black Stone Minerals, L.P. in the second quarter valued at $8,726,000. Finally, First Trust Advisors LP increased its stake in shares of Black Stone Minerals, L.P. by 36.0% in the first quarter. First Trust Advisors LP now owns 490,253 shares of the oil and gas producer’s stock valued at $8,094,000 after buying an additional 129,890 shares in the last quarter. Institutional investors own 21.36% of the company’s stock.

About Black Stone Minerals, L.P.

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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