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

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Zacks Investment Research downgraded shares of Black Stone Minerals (NYSE:BSM) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning, 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 dropped their price target on Black Stone Minerals from $16.00 to $6.50 and set a buy rating on the stock in a research report on Monday, March 30th. Royal Bank of Canada reissued a hold rating and set a $8.00 price target on shares of Black Stone Minerals in a research report on Thursday, April 30th. Stifel Nicolaus reissued a buy rating and set a $14.00 price target on shares of Black Stone Minerals in a research report on Thursday, February 6th. ValuEngine raised Black Stone Minerals from a strong sell rating to a sell rating in a research report on Friday, May 1st. Finally, Raymond James dropped their target price on Black Stone Minerals from $12.00 to $11.00 and set an outperform rating on the stock in a research report on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $11.61.

Black Stone Minerals stock opened at $6.70 on Wednesday. The stock has a market cap of $1.38 billion, a P/E ratio of 5.28 and a beta of 1.36. The company has a current ratio of 14.80, a quick ratio of 14.80 and a debt-to-equity ratio of 0.48. The stock has a 50 day moving average of $6.09 and a 200-day moving average of $9.27. Black Stone Minerals has a 52 week low of $4.04 and a 52 week high of $16.64.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.34 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.16. The business had revenue of $183.05 million for the quarter, compared to analyst estimates of $102.42 million. Black Stone Minerals had a return on equity of 26.79% and a net margin of 42.39%. As a group, equities analysts predict that Black Stone Minerals will post 0.78 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 14th were given a $0.08 dividend. The ex-dividend date of this dividend was Wednesday, May 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.78%. Black Stone Minerals’s dividend payout ratio (DPR) is 27.59%.

Several large investors have recently added to or reduced their stakes in the stock. Mayo Clinic acquired a new position in shares of Black Stone Minerals in the 4th quarter valued at $72,475,000. EdgePoint Investment Group Inc. boosted its position in shares of Black Stone Minerals by 30.7% in the 1st quarter. EdgePoint Investment Group Inc. now owns 3,618,261 shares of the oil and gas producer’s stock valued at $16,933,000 after purchasing an additional 849,562 shares during the period. Morgan Stanley boosted its position in shares of Black Stone Minerals by 26.8% in the 1st quarter. Morgan Stanley now owns 3,175,599 shares of the oil and gas producer’s stock valued at $14,862,000 after purchasing an additional 671,509 shares during the period. FMR LLC boosted its position in shares of Black Stone Minerals by 3.6% in the 4th quarter. FMR LLC now owns 1,457,859 shares of the oil and gas producer’s stock valued at $18,544,000 after purchasing an additional 50,153 shares during the period. Finally, Bank of Montreal Can boosted its position in shares of Black Stone Minerals by 210.5% in the 4th quarter. Bank of Montreal Can now owns 673,200 shares of the oil and gas producer’s stock valued at $8,563,000 after purchasing an additional 456,400 shares during the period. Institutional investors and hedge funds own 25.04% 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 64 onshore basins in the continental United States.

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