Zacks Investment Research upgraded shares of Black Stone Minerals (NYSE:BSM) from a hold rating to a buy rating in a research note released on Wednesday, January 3rd. They currently have $20.00 price target on the oil and gas producer’s stock.

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. Piper Jaffray Companies decreased their price objective on Black Stone Minerals from $20.00 to $19.00 and set an overweight rating for the company in a report on Monday, September 18th. Barclays set a $18.00 price target on Black Stone Minerals and gave the stock a buy rating in a report on Thursday, December 14th. Stifel Nicolaus reaffirmed a buy rating and issued a $18.00 price target on shares of Black Stone Minerals in a report on Friday, September 22nd. Finally, TheStreet lowered Black Stone Minerals from a b- rating to a c rating in a research note on Monday, October 30th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $19.40.

Shares of Black Stone Minerals (BSM) opened at $18.75 on Wednesday. Black Stone Minerals has a 52-week low of $15.12 and a 52-week high of $19.03. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.98 and a current ratio of 1.98. The company has a market capitalization of $1,935.61, a PE ratio of 22.06 and a beta of 0.30.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data on Monday, November 6th. The oil and gas producer reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.01. Black Stone Minerals had a return on equity of 11.44% and a net margin of 21.57%. equities analysts forecast that Black Stone Minerals will post 0.78 earnings per share for the current year.

In related news, SVP Luke Stevens Putman sold 23,170 shares of the stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $18.28, for a total value of $423,547.60. Following the completion of the transaction, the senior vice president now directly owns 257,141 shares in the company, valued at $4,700,537.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jeffrey P. Wood sold 10,810 shares of the company’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $18.30, for a total value of $197,823.00. Following the transaction, the chief financial officer now owns 53,031 shares in the company, valued at $970,467.30. The disclosure for this sale can be found here. 25.00% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC acquired a new stake in shares of Black Stone Minerals in the fourth quarter valued at $221,000. Westwood Holdings Group Inc. purchased a new position in Black Stone Minerals in the second quarter valued at $234,000. Alliancebernstein L.P. increased its holdings in Black Stone Minerals by 5.9% in the second quarter. Alliancebernstein L.P. now owns 18,468 shares of the oil and gas producer’s stock valued at $291,000 after buying an additional 1,034 shares during the last quarter. Alps Advisors Inc. purchased a new position in Black Stone Minerals in the third quarter valued at $478,000. Finally, Sterling Capital Management LLC increased its holdings in Black Stone Minerals by 13.7% in the third quarter. Sterling Capital Management LLC now owns 34,794 shares of the oil and gas producer’s stock valued at $603,000 after buying an additional 4,191 shares during the last quarter. Institutional investors and hedge funds own 22.01% of the company’s stock.

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Black Stone Minerals Company Profile

Black Stone Minerals, L.P. is an owner of oil and natural gas mineral interests in the United States. The Company’s principal business is maximizing the value of its existing portfolio of mineral and royalty assets through active management and expanding its asset base through acquisitions of additional mineral and royalty interests.

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