Black Stone Minerals (NYSE:BSM) Stock Rating Upgraded by Zacks Research

Key Points

• Black Stone Minerals has been upgraded from a "strong sell" rating to a "hold" rating by Zacks Research, reflecting a more optimistic outlook for the company's stock.
• The stock's current average target price is $13.00, with a recent trading price of $12.44, indicating potential for growth.
• CEO Thomas L. Carter Jr. recently purchased 14,000 shares of the stock, indicating confidence in the company's future performance.

Black Stone Minerals (NYSE:BSM - Get Free Report) was upgraded by research analysts at Zacks Research from a "strong sell" rating to a "hold" rating in a report released on Monday,Zacks.com reports.

Several other research analysts also recently weighed in on the stock. Weiss Ratings reiterated a "hold (c-)" rating on shares of Black Stone Minerals in a research report on Wednesday, October 8th. Piper Sandler reduced their price objective on shares of Black Stone Minerals from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $13.00.

Black Stone Minerals Trading Down 1.7%

NYSE:BSM opened at $12.44 on Monday. The company's 50 day moving average price is $12.60 and its 200-day moving average price is $13.22. Black Stone Minerals has a 52 week low of $11.78 and a 52 week high of $15.66. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.12. The stock has a market cap of $2.64 billion, a price-to-earnings ratio of 10.72 and a beta of 0.24.

Black Stone Minerals (NYSE:BSM - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.23. The company had revenue of $159.49 million for the quarter, compared to the consensus estimate of $112.19 million. Black Stone Minerals had a net margin of 61.21% and a return on equity of 39.67%. On average, equities research analysts forecast that Black Stone Minerals will post 1.36 earnings per share for the current fiscal year.

Insider Transactions at Black Stone Minerals

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. acquired 14,000 shares of the company's stock in a transaction on Friday, September 12th. The stock was acquired at an average cost of $12.59 per share, with a total value of $176,260.00. Following the purchase, the chief executive officer directly owned 3,512,701 shares of the company's stock, valued at approximately $44,224,905.59. This represents a 0.40% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. In the last 90 days, insiders have acquired 163,080 shares of company stock valued at $1,983,910. Insiders own 17.80% of the company's stock.

Hedge Funds Weigh In On Black Stone Minerals

A number of large investors have recently made changes to their positions in the company. Moors & Cabot Inc. boosted its stake in shares of Black Stone Minerals by 1.4% during the 2nd quarter. Moors & Cabot Inc. now owns 63,000 shares of the oil and gas producer's stock worth $824,000 after purchasing an additional 900 shares during the period. Redhawk Wealth Advisors Inc. lifted its holdings in Black Stone Minerals by 8.8% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 11,416 shares of the oil and gas producer's stock valued at $150,000 after buying an additional 927 shares in the last quarter. MAS Advisors LLC lifted its holdings in Black Stone Minerals by 4.1% during the 2nd quarter. MAS Advisors LLC now owns 26,176 shares of the oil and gas producer's stock valued at $342,000 after buying an additional 1,041 shares in the last quarter. IHT Wealth Management LLC lifted its holdings in Black Stone Minerals by 5.1% during the 2nd quarter. IHT Wealth Management LLC now owns 22,598 shares of the oil and gas producer's stock valued at $296,000 after buying an additional 1,104 shares in the last quarter. Finally, Belpointe Asset Management LLC lifted its holdings in Black Stone Minerals by 8.0% during the 2nd quarter. Belpointe Asset Management LLC now owns 14,975 shares of the oil and gas producer's stock valued at $196,000 after buying an additional 1,112 shares in the last quarter. 14.49% of the stock is owned by hedge funds and other 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.

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