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

Zacks Research upgraded shares of Black Stone Minerals (NYSE:BSM) from a hold rating to a strong-buy rating in a research report sent to investors on Tuesday,Zacks.com reports.

Several other research firms have also weighed in on BSM. KeyCorp restated a “sector weight” rating on shares of Black Stone Minerals in a research note on Tuesday, November 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Black Stone Minerals in a research note on Monday, December 29th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $13.00.

Black Stone Minerals Stock Up 2.5%

NYSE:BSM opened at $13.71 on Tuesday. Black Stone Minerals has a twelve month low of $11.78 and a twelve month high of $15.60. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 11.92 and a beta of 0.13. The company has a quick ratio of 4.37, a current ratio of 4.37 and a debt-to-equity ratio of 0.12. The stock’s 50 day moving average price is $13.75 and its two-hundred day moving average price is $13.06.

Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.12. Black Stone Minerals had a net margin of 61.31% and a return on equity of 40.08%. The business had revenue of $132.47 million during the quarter, compared to analysts’ expectations of $106.20 million. Equities research analysts expect that Black Stone Minerals will post 1.36 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Thursday, November 6th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 8.8%. The ex-dividend date was Thursday, November 6th. Black Stone Minerals’s dividend payout ratio (DPR) is 104.35%.

Institutional Trading of Black Stone Minerals

Several hedge funds have recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC bought a new stake in Black Stone Minerals in the 2nd quarter valued at about $175,721,000. Investment Management Associates Inc. ADV grew its holdings in Black Stone Minerals by 22.6% during the 3rd quarter. Investment Management Associates Inc. ADV now owns 1,934,739 shares of the oil and gas producer’s stock valued at $25,422,000 after buying an additional 356,852 shares in the last quarter. ING Groep NV increased its position in shares of Black Stone Minerals by 216.6% during the third quarter. ING Groep NV now owns 509,700 shares of the oil and gas producer’s stock valued at $6,697,000 after buying an additional 348,700 shares during the period. CIBC Bancorp USA Inc. bought a new stake in shares of Black Stone Minerals during the third quarter valued at about $3,512,000. Finally, Kempner Capital Management Inc. lifted its holdings in shares of Black Stone Minerals by 52.3% in the second quarter. Kempner Capital Management Inc. now owns 759,343 shares of the oil and gas producer’s stock worth $9,932,000 after buying an additional 260,727 shares in the last quarter. 14.49% of the stock is currently owned by institutional investors.

Black Stone Minerals Company Profile

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.