Black Stone Minerals (NYSE:BSM) Rating Increased to Buy at StockNews.com

Black Stone Minerals (NYSE:BSMGet Rating) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday.

BSM has been the subject of several other reports. TheStreet cut Black Stone Minerals from a “b” rating to a “c+” rating in a research note on Friday, June 3rd. Raymond James lifted their price target on Black Stone Minerals from $16.00 to $22.00 and gave the company a “strong-buy” rating in a research report on Monday, April 25th. Wells Fargo & Company lifted their price target on Black Stone Minerals from $18.00 to $19.00 and gave the company an “overweight” rating in a research report on Monday, May 23rd. Finally, Piper Sandler lifted their price target on Black Stone Minerals from $13.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, April 7th. One equities research analyst has rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $19.00.

Black Stone Minerals stock opened at $13.24 on Wednesday. The stock has a 50-day moving average of $15.46 and a two-hundred day moving average of $13.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.73 and a current ratio of 0.73. Black Stone Minerals has a one year low of $9.47 and a one year high of $17.36. The stock has a market cap of $2.77 billion, a PE ratio of 20.69 and a beta of 1.03.

Black Stone Minerals (NYSE:BSMGet Rating) last announced its quarterly earnings data on Monday, May 2nd. The oil and gas producer reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.05. Black Stone Minerals had a return on equity of 36.66% and a net margin of 47.53%. The firm had revenue of $36.42 million during the quarter, compared to analysts’ expectations of $128.74 million. During the same period last year, the business posted $0.16 earnings per share. As a group, sell-side analysts predict that Black Stone Minerals will post 1.68 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE grew its holdings in Black Stone Minerals by 15.9% in the first quarter. Bank of America Corp DE now owns 48,453 shares of the oil and gas producer’s stock valued at $652,000 after purchasing an additional 6,633 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Black Stone Minerals by 19.0% in the first quarter. BNP Paribas Arbitrage SA now owns 140,697 shares of the oil and gas producer’s stock valued at $1,894,000 after purchasing an additional 22,507 shares during the period. O Brien Greene & Co. Inc grew its holdings in Black Stone Minerals by 25.0% in the first quarter. O Brien Greene & Co. Inc now owns 100,000 shares of the oil and gas producer’s stock valued at $1,346,000 after purchasing an additional 20,000 shares during the period. Linscomb & Williams Inc. grew its holdings in Black Stone Minerals by 7.3% in the first quarter. Linscomb & Williams Inc. now owns 11,801 shares of the oil and gas producer’s stock valued at $159,000 after purchasing an additional 801 shares during the period. Finally, Royal Bank of Canada grew its holdings in Black Stone Minerals by 43.5% in the first quarter. Royal Bank of Canada now owns 109,385 shares of the oil and gas producer’s stock valued at $1,472,000 after purchasing an additional 33,156 shares during the period. 16.55% of the stock is currently owned by institutional investors.

About Black Stone Minerals (Get Rating)

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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