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

Zacks Investment Research upgraded shares of Black Stone Minerals (NYSE:BSM) from a sell rating to a hold rating in a research note issued to investors on Monday morning, Zacks.com reports.

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. “

BSM has been the subject of several other research reports. Royal Bank of Canada began coverage on shares of Black Stone Minerals in a report on Thursday, April 18th. They issued an outperform rating and a $23.00 target price for the company. ValuEngine lowered shares of Black Stone Minerals from a hold rating to a sell rating in a report on Monday, June 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Black Stone Minerals currently has an average rating of Hold and an average target price of $20.25.

Black Stone Minerals stock opened at $13.72 on Monday. The firm has a 50-day moving average price of $14.99 and a 200-day moving average price of $16.72. The firm has a market capitalization of $2.97 billion, a PE ratio of 9.46 and a beta of 0.58. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.52. Black Stone Minerals has a 12-month low of $13.61 and a 12-month high of $19.03.

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th will be issued a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, August 14th. This represents a $1.48 annualized dividend and a dividend yield of 10.79%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 102.07%.

In other news, Director D Mark Dewalch bought 5,350 shares of the stock in a transaction dated Monday, June 10th. The stock was purchased at an average price of $16.44 per share, for a total transaction of $87,954.00. Following the acquisition, the director now owns 174,272 shares of the company’s stock, valued at $2,865,031.68. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 24.40% of the stock is currently owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. Raymond James & Associates lifted its holdings in Black Stone Minerals by 4.1% during the 1st quarter. Raymond James & Associates now owns 92,063 shares of the oil and gas producer’s stock valued at $1,624,000 after buying an additional 3,664 shares in the last quarter. Jane Street Group LLC bought a new stake in Black Stone Minerals during the 4th quarter valued at about $183,000. Zions Bancorporation N.A. lifted its holdings in Black Stone Minerals by 131.3% during the 2nd quarter. Zions Bancorporation N.A. now owns 6,012,972 shares of the oil and gas producer’s stock valued at $93,201,000 after buying an additional 3,413,272 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in Black Stone Minerals during the 1st quarter valued at about $697,000. Finally, Private Wealth Partners LLC lifted its holdings in Black Stone Minerals by 17.9% during the 1st quarter. Private Wealth Partners LLC now owns 151,150 shares of the oil and gas producer’s stock valued at $2,666,000 after buying an additional 22,950 shares in the last quarter. Hedge funds and other institutional investors own 17.88% of the company’s stock.

About Black Stone Minerals

Black Stone Minerals, L.P. owns and manages oil and natural gas mineral interests in the United States. The company owns mineral interests in approximately 16.8 million acres, nonparticipating royalty interests in 1.9 million acres, and overriding royalty interests in 2.1 million acres located in 41 states and 64 onshore basins in the continental United States.

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