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

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

A number of other equities research analysts have also recently commented on BSM. KeyCorp reissued a “sector weight” rating on shares of Black Stone Minerals in a research note on Tuesday, November 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Black Stone Minerals in a research report on Monday, December 29th. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Black Stone Minerals has a consensus rating of “Hold” and an average price target of $13.00.

Black Stone Minerals Price Performance

BSM stock opened at $15.00 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 4.37 and a current ratio of 4.37. The firm has a 50 day moving average price of $14.13 and a 200-day moving average price of $13.29. Black Stone Minerals has a 52-week low of $11.78 and a 52-week high of $15.52. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of 13.04 and a beta of 0.18.

Black Stone Minerals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Investors of record on Wednesday, February 18th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $1.20 annualized dividend and a dividend yield of 8.0%. Black Stone Minerals’s dividend payout ratio (DPR) is 104.35%.

Hedge Funds Weigh In On Black Stone Minerals

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC raised its holdings in shares of 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. Newbridge Financial Services Group Inc. boosted its holdings in Black Stone Minerals by 71.7% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,981 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 1,245 shares during the last quarter. Motco purchased a new stake in Black Stone Minerals in the second quarter worth approximately $46,000. Tower Research Capital LLC TRC grew its position in Black Stone Minerals by 7,822.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 7,289 shares of the oil and gas producer’s stock worth $95,000 after purchasing an additional 7,197 shares during the period. Finally, Stratos Wealth Partners LTD. purchased a new stake in Black Stone Minerals during the 2nd quarter valued at $132,000. Institutional investors 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.