Black Stone Minerals (NYSE:BSM) Cut to “Strong Sell” at Zacks Research

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

Several other research analysts have also weighed in on the company. Piper Sandler upped their price target on Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Weiss Ratings restated a “hold (c-)” rating on shares of Black Stone Minerals in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Reduce” and an average target price of $14.00.

Black Stone Minerals Trading Up 1.2%

Black Stone Minerals stock opened at $14.37 on Tuesday. The company has a 50 day moving average price of $14.82 and a 200 day moving average price of $14.16. Black Stone Minerals has a 52 week low of $11.78 and a 52 week high of $15.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.88 and a current ratio of 3.88. The firm has a market capitalization of $3.05 billion, a price-to-earnings ratio of 11.22 and a beta of 0.19.

Black Stone Minerals (NYSE:BSM) last announced its earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.04. The company had revenue of $118.70 million for the quarter, compared to the consensus estimate of $98.08 million. Black Stone Minerals had a net margin of 62.26% and a return on equity of 43.31%. Research analysts forecast that Black Stone Minerals will post 0.91 EPS for the current year.

Black Stone Minerals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 8th will be given a $0.30 dividend. The ex-dividend date is Friday, May 8th. This represents a $1.20 dividend on an annualized basis and a yield of 8.4%. Black Stone Minerals’s dividend payout ratio is presently 93.75%.

Insider Activity at Black Stone Minerals

In other news, SVP Luke Stevens Putman sold 30,276 shares of the business’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $15.25, for a total transaction of $461,709.00. Following the transaction, the senior vice president directly owned 761,417 shares in the company, valued at $11,611,609.25. The trade was a 3.82% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 17.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Black Stone Minerals

Institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC boosted its position in Black Stone Minerals by 61.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 900 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Black Stone Minerals during the 4th quarter valued at about $43,000. Newbridge Financial Services Group Inc. lifted its holdings in shares of Black Stone Minerals by 65.8% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 4,943 shares of the oil and gas producer’s stock valued at $66,000 after buying an additional 1,962 shares during the last quarter. Kestra Advisory Services LLC bought a new stake in shares of Black Stone Minerals in the 4th quarter valued at approximately $86,000. Finally, Tower Research Capital LLC TRC increased its holdings in Black Stone Minerals by 7,822.8% in the second quarter. Tower Research Capital LLC TRC now owns 7,289 shares of the oil and gas producer’s stock worth $95,000 after buying an additional 7,197 shares during the last quarter. Institutional investors and hedge funds own 14.49% of the company’s stock.

About Black Stone Minerals

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.