Black Stone Minerals (NYSE:BSM) Lowered to “Hold” at Zacks Investment Research

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Black Stone Minerals (NYSE:BSM) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research note issued on Monday, Zacks.com reports.

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 several other reports. Citigroup set a $16.00 price objective on shares of Black Stone Minerals and gave the company a “buy” rating in a report on Monday, August 12th. ValuEngine raised shares of Black Stone Minerals from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Wells Fargo & Co assumed coverage on shares of Black Stone Minerals in a report on Friday, October 4th. They set a “market perform” rating and a $19.00 price objective on the stock. Finally, TheStreet downgraded shares of Black Stone Minerals from a “b-” rating to a “c+” rating in a report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Black Stone Minerals currently has a consensus rating of “Buy” and an average target price of $19.20.

BSM stock traded up $0.11 during midday trading on Monday, hitting $13.18. 440,651 shares of the stock traded hands, compared to its average volume of 191,909. The firm has a market cap of $2.73 billion, a P/E ratio of 9.09 and a beta of 0.58. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.75 and a quick ratio of 2.75. The stock’s fifty day simple moving average is $14.07 and its 200-day simple moving average is $15.62. Black Stone Minerals has a 1-year low of $12.94 and a 1-year high of $18.77.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, August 5th. The oil and gas producer reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. The business had revenue of $163.62 million for the quarter, compared to the consensus estimate of $130.18 million. Black Stone Minerals had a net margin of 41.52% and a return on equity of 27.81%. On average, research analysts predict that Black Stone Minerals will post 1 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Spirit of America Management Corp NY lifted its stake in shares of Black Stone Minerals by 19.0% in the third quarter. Spirit of America Management Corp NY now owns 454,099 shares of the oil and gas producer’s stock worth $6,466,000 after buying an additional 72,491 shares in the last quarter. Kempner Capital Management Inc. lifted its stake in shares of Black Stone Minerals by 18.9% in the third quarter. Kempner Capital Management Inc. now owns 282,526 shares of the oil and gas producer’s stock worth $4,023,000 after buying an additional 45,000 shares in the last quarter. Lenox Wealth Advisors LLC purchased a new position in shares of Black Stone Minerals in the third quarter worth about $36,000. Royal Bank of Canada lifted its stake in shares of Black Stone Minerals by 6.7% in the second quarter. Royal Bank of Canada now owns 48,715 shares of the oil and gas producer’s stock worth $755,000 after buying an additional 3,061 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Black Stone Minerals by 138.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 314,272 shares of the oil and gas producer’s stock worth $4,871,000 after buying an additional 182,407 shares in the last quarter. 23.11% of the stock is currently owned by institutional investors and hedge funds.

About Black Stone Minerals

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 64 onshore basins in the continental United States.

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