StockNews.com Upgrades Black Stone Minerals (NYSE:BSM) to “Buy”

StockNews.com upgraded shares of Black Stone Minerals (NYSE:BSM) from a hold rating to a buy rating in a research note released on Tuesday.

Separately, KeyCorp initiated coverage on shares of Black Stone Minerals in a research report on Thursday, June 27th. They set a sector weight rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $18.50.

Black Stone Minerals Trading Down 0.6 %

Black Stone Minerals stock traded down $0.08 during mid-day trading on Tuesday, hitting $14.25. 456,020 shares of the company’s stock were exchanged, compared to its average volume of 468,525. Black Stone Minerals has a 1-year low of $13.94 and a 1-year high of $18.55. The stock has a 50 day moving average of $15.51 and a two-hundred day moving average of $15.76. The stock has a market cap of $3.00 billion, a P/E ratio of 9.25 and a beta of 0.93.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.08). Black Stone Minerals had a return on equity of 38.71% and a net margin of 66.29%. The company had revenue of $109.62 million for the quarter, compared to the consensus estimate of $124.24 million. During the same quarter last year, the company posted $0.35 EPS. As a group, research analysts predict that Black Stone Minerals will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 9th will be issued a dividend of $0.375 per share. The ex-dividend date is Friday, August 9th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.53%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 97.40%.

Institutional Investors Weigh In On Black Stone Minerals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Bogart Wealth LLC acquired a new stake in Black Stone Minerals during the first quarter worth about $26,000. HBC Financial Services PLLC bought a new stake in shares of Black Stone Minerals during the fourth quarter valued at approximately $31,000. Newbridge Financial Services Group Inc. increased its position in shares of Black Stone Minerals by 279.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,036 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 2,236 shares during the period. Summit Securities Group LLC bought a new position in Black Stone Minerals in the second quarter worth $74,000. Finally, SG Americas Securities LLC bought a new position in Black Stone Minerals in the first quarter worth $102,000. Institutional investors and hedge funds own 14.49% of the company’s stock.

About Black Stone Minerals

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 1.6 million gross acres located in 41 states in the United States.