Black Stone Minerals (NYSE:BSM) Lowered to Strong Sell Rating by Zacks Research

Zacks Research downgraded shares of Black Stone Minerals (NYSE:BSM) from a hold rating to a strong sell rating in a research report report published on Tuesday morning,Zacks.com reports.

Several other equities analysts have also recently issued reports on the stock. Weiss Ratings restated a “hold (c-)” rating on shares of Black Stone Minerals in a research note on Monday, December 29th. Piper Sandler increased their price objective on shares of Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Black Stone Minerals presently has an average rating of “Reduce” and a consensus price target of $14.00.

Black Stone Minerals Stock Up 1.5%

BSM stock opened at $14.21 on Tuesday. Black Stone Minerals has a 1-year low of $11.78 and a 1-year high of $15.49. The business has a fifty day moving average price of $14.84 and a 200-day moving average price of $14.16. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.88 and a quick ratio of 3.88. The stock has a market capitalization of $3.02 billion, a P/E ratio of 11.10 and a beta of 0.19.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings data on Monday, February 23rd. The oil and gas producer reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04. Black Stone Minerals had a return on equity of 43.31% and a net margin of 62.26%.The company had revenue of $118.70 million for the quarter, compared to analysts’ expectations of $98.08 million. Equities analysts forecast that Black Stone Minerals will post 0.91 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 8th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.4%. Black Stone Minerals’s payout ratio is presently 93.75%.

Insider Activity at Black Stone Minerals

In other news, SVP Luke Stevens Putman sold 29,386 shares of the company’s stock in a transaction on Monday, April 6th. The stock was sold at an average price of $14.45, for a total value of $424,627.70. Following the completion of the sale, the senior vice president directly owned 732,031 shares in the company, valued at $10,577,847.95. This represents a 3.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 17.80% of the stock is owned by company insiders.

Institutional Trading of Black Stone Minerals

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Morgan Stanley lifted its position in shares of Black Stone Minerals by 57.1% during the 4th quarter. Morgan Stanley now owns 7,107,673 shares of the oil and gas producer’s stock valued at $94,461,000 after buying an additional 2,582,823 shares in the last quarter. Bank of America Corp DE increased its holdings in Black Stone Minerals by 2.2% in the 3rd quarter. Bank of America Corp DE now owns 2,600,182 shares of the oil and gas producer’s stock worth $34,166,000 after acquiring an additional 56,368 shares in the last quarter. Penn Davis Mcfarland Inc. raised its stake in Black Stone Minerals by 2.5% during the 4th quarter. Penn Davis Mcfarland Inc. now owns 1,967,467 shares of the oil and gas producer’s stock worth $26,148,000 after acquiring an additional 48,677 shares during the period. Investment Management Associates Inc. ADV raised its stake in Black Stone Minerals by 22.6% during the 3rd quarter. Investment Management Associates Inc. ADV now owns 1,934,739 shares of the oil and gas producer’s stock worth $25,422,000 after acquiring an additional 356,852 shares during the period. Finally, Northwestern University purchased a new position in Black Stone Minerals during the fourth quarter valued at approximately $15,671,000. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Company Profile

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.