Black Stone Minerals (NYSE:BSM) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research lowered shares of Black Stone Minerals (NYSE:BSM) from a buy rating to a hold rating in a research note published on Thursday 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. “

A number of other research analysts also recently weighed in on BSM. TheStreet downgraded shares of Black Stone Minerals from a b- rating to a c rating in a research report on Thursday, March 18th. Citigroup upped their price objective on shares of Black Stone Minerals from $9.00 to $110.00 in a research report on Tuesday, April 27th.

NYSE:BSM opened at $10.07 on Thursday. Black Stone Minerals has a 12 month low of $5.77 and a 12 month high of $10.87. The business’s fifty day moving average is $9.96. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.09 billion, a P/E ratio of 53.00 and a beta of 1.55.

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 analysts’ consensus estimates of $0.13 by ($0.05). The business had revenue of $61.57 million for the quarter, compared to analyst estimates of $80.03 million. Black Stone Minerals had a net margin of 23.23% and a return on equity of 12.19%. As a group, research analysts forecast that Black Stone Minerals will post 0.56 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, May 21st. Stockholders of record on Friday, May 14th were paid a dividend of $0.175 per share. The ex-dividend date was Thursday, May 13th. This represents a $0.70 dividend on an annualized basis and a dividend yield of 6.95%. Black Stone Minerals’s dividend payout ratio is currently 148.94%.

In other news, SVP Luke Stevens Putman sold 50,000 shares of the business’s stock in a transaction dated Wednesday, May 19th. The shares were sold at an average price of $9.82, for a total transaction of $491,000.00. Following the completion of the sale, the senior vice president now owns 465,956 shares of the company’s stock, valued at $4,575,687.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.10% of the stock is owned by insiders.

Hedge funds have recently added to or reduced their stakes in the company. Childress Capital Advisors LLC purchased a new stake in shares of Black Stone Minerals during the fourth quarter worth about $25,000. Optimum Investment Advisors increased its stake in shares of Black Stone Minerals by 100.0% during the first quarter. Optimum Investment Advisors now owns 4,000 shares of the oil and gas producer’s stock worth $35,000 after purchasing an additional 2,000 shares in the last quarter. Annandale Capital LLC purchased a new stake in shares of Black Stone Minerals during the fourth quarter worth about $74,000. Blair William & Co. IL purchased a new stake in shares of Black Stone Minerals during the fourth quarter worth about $116,000. Finally, Baker Ellis Asset Management LLC increased its stake in shares of Black Stone Minerals by 33.3% during the fourth quarter. Baker Ellis Asset Management LLC now owns 20,000 shares of the oil and gas producer’s stock worth $134,000 after purchasing an additional 5,000 shares in the last quarter. 17.57% of the stock is owned by institutional investors and hedge funds.

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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