Black Stone Minerals (NYSE:BSM) Earns Buy Rating from Royal Bank of Canada

Royal Bank of Canada restated their buy rating on shares of Black Stone Minerals (NYSE:BSM) in a research report released on Monday morning, AnalystRatings.com reports. The brokerage currently has a $17.00 price objective on the oil and gas producer’s stock.

Several other analysts have also recently issued reports on the company. Zacks Investment Research cut Black Stone Minerals from a hold rating to a sell rating in a report on Friday, January 3rd. ValuEngine raised Black Stone Minerals from a sell rating to a hold rating in a report on Tuesday, December 3rd. Stifel Nicolaus reaffirmed a buy rating and set a $16.00 price objective on shares of Black Stone Minerals in a report on Wednesday, January 8th. Scotiabank cut Black Stone Minerals from an outperform rating to a sector perform rating and set a $14.00 price objective on the stock. in a report on Tuesday, November 26th. Finally, Wells Fargo & Co began coverage on Black Stone Minerals in a report on Friday, October 4th. They set a market perform rating and a $19.00 price objective on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the company’s stock. Black Stone Minerals has an average rating of Hold and an average price target of $16.44.

Shares of BSM opened at $11.46 on Monday. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 7.64 and a beta of 0.55. Black Stone Minerals has a 1 year low of $11.25 and a 1 year high of $18.77. The business’s 50 day simple moving average is $12.56 and its 200-day simple moving average is $13.54. The company has a debt-to-equity ratio of 0.49, a current ratio of 5.27 and a quick ratio of 5.27.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.04. The business had revenue of $137.37 million for the quarter, compared to analysts’ expectations of $137.62 million. Black Stone Minerals had a return on equity of 32.46% and a net margin of 48.19%. On average, sell-side analysts expect that Black Stone Minerals will post 1.03 earnings per share for the current year.

In other news, SVP Luke Stevens Putman sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $12.99, for a total transaction of $389,700.00. Following the transaction, the senior vice president now owns 352,226 shares of the company’s stock, valued at approximately $4,575,415.74. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Dawn Smajstrla sold 4,707 shares of the business’s stock in a transaction that occurred on Thursday, January 9th. The shares were sold at an average price of $13.25, for a total value of $62,367.75. Following the transaction, the chief accounting officer now directly owns 42,673 shares in the company, valued at approximately $565,417.25. The disclosure for this sale can be found here. Insiders own 24.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First Trust Advisors LP grew its position in Black Stone Minerals by 10.6% in the 1st quarter. First Trust Advisors LP now owns 263,275 shares of the oil and gas producer’s stock valued at $4,644,000 after acquiring an additional 25,159 shares during the last quarter. Renaissance Technologies LLC grew its position in Black Stone Minerals by 69.0% in the 2nd quarter. Renaissance Technologies LLC now owns 261,442 shares of the oil and gas producer’s stock valued at $4,052,000 after acquiring an additional 106,742 shares during the last quarter. Bank of America Corp DE grew its position in Black Stone Minerals by 36.4% in the 2nd quarter. Bank of America Corp DE now owns 95,698 shares of the oil and gas producer’s stock valued at $1,483,000 after acquiring an additional 25,525 shares during the last quarter. Morgan Stanley grew its position in Black Stone Minerals by 23.0% in the 2nd quarter. Morgan Stanley now owns 648,352 shares of the oil and gas producer’s stock valued at $10,050,000 after acquiring an additional 121,276 shares during the last quarter. Finally, William Marsh Rice University grew its position in Black Stone Minerals by 72.8% in the 2nd quarter. William Marsh Rice University now owns 7,266,343 shares of the oil and gas producer’s stock valued at $112,628,000 after acquiring an additional 3,061,173 shares during the last quarter. 23.95% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Black Stone Minerals (NYSE:BSM)

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