Black Stone Minerals (NYSE:BSM) Lifted to Buy at StockNews.com

StockNews.com upgraded shares of Black Stone Minerals (NYSE:BSM) from a hold rating to a buy rating in a report published on Tuesday morning.

Separately, KeyCorp started coverage on Black Stone Minerals in a research note on Thursday, June 27th. They set a sector weight rating on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $18.50.

Black Stone Minerals Stock Performance

Black Stone Minerals stock traded down $0.08 during midday trading on Tuesday, reaching $14.25. 456,020 shares of the company were exchanged, compared to its average volume of 468,525. The company has a market capitalization of $3.00 billion, a price-to-earnings ratio of 9.25 and a beta of 0.93. The firm’s 50-day simple moving average is $15.51 and its 200-day simple moving average is $15.76. Black Stone Minerals has a 1 year low of $13.94 and a 1 year high of $18.55.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). The firm had revenue of $109.62 million for the quarter, compared to analysts’ expectations of $124.24 million. Black Stone Minerals had a return on equity of 38.71% and a net margin of 66.29%. During the same quarter last year, the firm earned $0.35 earnings per share. On average, analysts forecast that Black Stone Minerals will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Friday, August 9th will be given a $0.375 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.50 annualized dividend and a dividend yield of 10.53%. Black Stone Minerals’s dividend payout ratio is presently 97.40%.

Institutional Trading of Black Stone Minerals

Institutional investors have recently made changes to their positions in the stock. Cadence Bank grew its position in Black Stone Minerals by 3.1% during the first quarter. Cadence Bank now owns 26,350 shares of the oil and gas producer’s stock valued at $421,000 after acquiring an additional 784 shares during the period. Hilltop Holdings Inc. grew its holdings in shares of Black Stone Minerals by 10.1% during the 4th quarter. Hilltop Holdings Inc. now owns 13,100 shares of the oil and gas producer’s stock worth $209,000 after purchasing an additional 1,200 shares during the period. Bogart Wealth LLC acquired a new stake in Black Stone Minerals during the 1st quarter worth approximately $26,000. F&V Capital Management LLC raised its holdings in Black Stone Minerals by 10.4% in the first quarter. F&V Capital Management LLC now owns 20,200 shares of the oil and gas producer’s stock valued at $323,000 after buying an additional 1,900 shares during the period. Finally, HBC Financial Services PLLC acquired a new position in Black Stone Minerals during the fourth quarter valued at approximately $31,000. 14.49% of the stock is owned by hedge funds and other institutional investors.

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 1.6 million gross acres located in 41 states in the United States.