Black Stone Minerals (NYSE:BSM) Upgraded at Zacks Research

Zacks Research upgraded shares of Black Stone Minerals (NYSE:BSM) from a strong sell rating to a hold rating in a report released on Monday,Zacks.com reports.

Several other research analysts have also recently commented on BSM. Weiss Ratings restated a “hold (c-)” rating on shares of Black Stone Minerals in a research report on Wednesday, October 8th. Piper Sandler decreased their target price on shares of Black Stone Minerals from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, August 14th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Black Stone Minerals currently has a consensus rating of “Hold” and an average price target of $13.00.

Black Stone Minerals Price Performance

BSM opened at $12.50 on Monday. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 10.77 and a beta of 0.24. Black Stone Minerals has a fifty-two week low of $11.78 and a fifty-two week high of $15.66. The company’s 50-day moving average price is $12.60 and its 200 day moving average price is $13.21. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.12.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings data on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.23. Black Stone Minerals had a net margin of 61.21% and a return on equity of 39.67%. The firm had revenue of $159.49 million for the quarter, compared to analyst estimates of $112.19 million. As a group, sell-side analysts expect that Black Stone Minerals will post 1.36 earnings per share for the current year.

Insider Activity

In related news, CEO Thomas L. Carter, Jr. acquired 27,500 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was acquired at an average cost of $12.20 per share, for a total transaction of $335,500.00. Following the completion of the acquisition, the chief executive officer directly owned 3,396,831 shares of the company’s stock, valued at approximately $41,441,338.20. The trade was a 0.82% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have purchased 163,080 shares of company stock valued at $1,983,910 in the last ninety days. Company insiders own 17.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BSM. Kingstone Capital Partners Texas LLC bought a new position in shares of Black Stone Minerals in the second quarter valued at approximately $175,721,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Black Stone Minerals by 3,141.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 913,495 shares of the oil and gas producer’s stock valued at $13,949,000 after purchasing an additional 885,311 shares during the last quarter. Kempner Capital Management Inc. lifted its stake in Black Stone Minerals by 52.3% during the second quarter. Kempner Capital Management Inc. now owns 759,343 shares of the oil and gas producer’s stock valued at $9,932,000 after purchasing an additional 260,727 shares during the last quarter. Penn Davis Mcfarland Inc. lifted its stake in Black Stone Minerals by 16.3% during the first quarter. Penn Davis Mcfarland Inc. now owns 1,861,741 shares of the oil and gas producer’s stock valued at $28,429,000 after purchasing an additional 260,559 shares during the last quarter. Finally, Jump Financial LLC acquired a new stake in Black Stone Minerals during the second quarter valued at approximately $1,230,000. 14.49% of the stock is currently owned by institutional investors.

About Black Stone Minerals

Black Stone Minerals, L.P., together with its subsidiaries, owns and manages oil and natural gas mineral interests. It owns mineral interests in approximately 16.8 million gross acres, nonparticipating royalty interests in 1.8 million gross acres, and overriding royalty interests in 1.6 million gross acres located in 41 states in the United States.