Black Stone Minerals (NYSE:BSM) was upgraded by Zacks Investment Research from a "hold" rating to a "buy" rating in a research note issued to investors on Thursday, Zacks.com reports. The brokerage currently has a $12.00 target price on the oil and gas producer's stock. Zacks Investment Research's target price indicates a potential upside of 15.27% from the stock's previous close.
According to Zacks, "Black Stone Minerals, L.P. is the owner of oil and natural gas mineral primarily in the United States. Black Stone Minerals, L.P. is based in Houston, United States. "
A number of other research firms have also issued reports on BSM. Citigroup lifted their target price on Black Stone Minerals from $9.00 to $110.00 in a report on Tuesday, April 27th. TheStreet cut Black Stone Minerals from a "b-" rating to a "c" rating in a research report on Thursday, March 18th.
BSM stock traded up $0.03 during midday trading on Thursday, hitting $10.41. 557,193 shares of the company's stock were exchanged, compared to its average volume of 487,710. The company's 50-day simple moving average is $10.20. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market capitalization of $2.16 billion, a PE ratio of 54.79 and a beta of 1.55. Black Stone Minerals has a 1-year low of $5.77 and a 1-year high of $10.87.
Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, May 3rd. The oil and gas producer reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.05). Black Stone Minerals had a return on equity of 12.19% and a net margin of 23.23%. The business had revenue of $61.57 million for the quarter, compared to analyst estimates of $80.03 million. Equities research analysts forecast that Black Stone Minerals will post 0.56 earnings per share for the current fiscal year.
In other Black Stone Minerals news, SVP Luke Stevens Putman sold 50,000 shares of Black Stone Minerals stock in a transaction that occurred on Wednesday, May 19th. The shares were sold at an average price of $9.82, for a total value of $491,000.00. Following the transaction, the senior vice president now owns 465,956 shares in the company, valued at $4,575,687.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. 21.10% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in the company. SoftVest Advisors LLC acquired a new stake in shares of Black Stone Minerals during the 4th quarter valued at about $14,095,000. Penn Davis Mcfarland Inc. boosted its position in shares of Black Stone Minerals by 6,530.0% during the 1st quarter. Penn Davis Mcfarland Inc. now owns 1,162,175 shares of the oil and gas producer's stock valued at $10,134,000 after acquiring an additional 1,144,646 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of Black Stone Minerals during the 4th quarter valued at about $2,832,000. Citigroup Inc. boosted its position in shares of Black Stone Minerals by 44,776.1% during the 1st quarter. Citigroup Inc. now owns 300,670 shares of the oil and gas producer's stock valued at $2,622,000 after acquiring an additional 300,000 shares in the last quarter. Finally, Fayez Sarofim & Co boosted its position in Black Stone Minerals by 150.3% in the first quarter. Fayez Sarofim & Co now owns 461,748 shares of the oil and gas producer's stock valued at $4,026,000 after buying an additional 277,283 shares in the last quarter. Institutional investors and hedge funds own 17.57% of the company's stock.
Black Stone Minerals Company Profile
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 1.7 million gross acres located in 41 states in the United States.
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