KeyCorp initiated coverage on shares of Black Stone Minerals (NYSE:BSM – Get Rating) in a research note issued to investors on Monday, The Fly reports. The firm issued an overweight rating on the oil and gas producer's stock.
A number of other brokerages also recently issued reports on BSM. Wells Fargo & Company boosted their price target on shares of Black Stone Minerals from $18.00 to $19.00 and gave the stock an overweight rating in a research report on Monday, May 23rd. StockNews.com upgraded shares of Black Stone Minerals from a hold rating to a buy rating in a research note on Saturday, August 6th. Finally, TheStreet upgraded shares of Black Stone Minerals from a c+ rating to a b rating in a research note on Friday, September 2nd. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of Buy and an average price target of $19.00.
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Black Stone Minerals Stock Up 1.4 %
Shares of NYSE BSM opened at $15.92 on Monday. The company has a market capitalization of $3.57 billion, a P/E ratio of 13.49 and a beta of 1.07. Black Stone Minerals has a 52-week low of $9.70 and a 52-week high of $17.36. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25. The company's 50 day moving average price is $15.27 and its 200-day moving average price is $14.79.
Black Stone Minerals (NYSE:BSM – Get Rating) last issued its quarterly earnings results on Monday, August 1st. The oil and gas producer reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. The firm had revenue of $180.37 million for the quarter, compared to the consensus estimate of $156.08 million. Black Stone Minerals had a net
margin of 60.34% and a return on equity of 41.83%. During the same quarter in the previous year, the company earned $0.25 EPS. Equities analysts forecast that Black Stone Minerals will post 1.65 earnings per share for the current year.
Black Stone Minerals Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Friday, August 12th were issued a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, August 11th. This is an increase from Black Stone Minerals's previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 10.55%. Black Stone Minerals's dividend payout ratio is 142.37%.
Insider Buying and Selling at Black Stone Minerals
In related news, CEO Thomas L. Carter, Jr. purchased 25,000 shares of the firm's stock in a transaction dated Monday, September 12th. The shares were purchased at an average cost of $16.27 per share, for a total transaction of $406,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,012 shares in the company, valued at approximately $36,168,405.24. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. purchased 25,000 shares of Black Stone Minerals stock in a transaction on Monday, September 12th. The shares were acquired at an average cost of $16.27 per share, for a total transaction of $406,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,012 shares of the company's stock, valued at $36,168,405.24. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Thomas L. Carter, Jr. acquired 20,000 shares of the company's stock in a transaction dated Thursday, August 4th. The shares were bought at an average cost of $14.90 per share, with a total value of $298,000.00. Following the purchase, the chief executive officer now owns 2,168,012 shares of the company's stock, valued at approximately $32,303,378.80. The disclosure for this purchase can be found here. Insiders have acquired a total of 70,000 shares of company stock valued at $1,114,500 over the last three months. 20.50% of the stock is currently owned by insiders.
Institutional Trading of Black Stone Minerals
A number of institutional investors have recently made changes to their positions in BSM. Brown Advisory Inc. lifted its stake in Black Stone Minerals by 1.0% in the first quarter. Brown Advisory Inc. now owns 1,274,993 shares of the oil and gas producer's stock worth $16,061,000 after acquiring an additional 12,088 shares during the period. Doliver Advisors LP lifted its stake in Black Stone Minerals by 22.2% in the first quarter. Doliver Advisors LP now owns 23,124 shares of the oil and gas producer's stock worth $311,000 after acquiring an additional 4,200 shares during the period. Investment Management Associates Inc. ADV lifted its stake in Black Stone Minerals by 72.5% in the fourth quarter. Investment Management Associates Inc. ADV now owns 577,033 shares of the oil and gas producer's stock worth $5,961,000 after acquiring an additional 242,475 shares during the period. Mraz Amerine & Associates Inc. lifted its stake in Black Stone Minerals by 5.6% in the first quarter. Mraz Amerine & Associates Inc. now owns 132,907 shares of the oil and gas producer's stock worth $1,789,000 after acquiring an additional 6,992 shares during the period. Finally, Penn Davis Mcfarland Inc. lifted its stake in Black Stone Minerals by 29.8% in the first quarter. Penn Davis Mcfarland Inc. now owns 1,555,345 shares of the oil and gas producer's stock worth $20,935,000 after acquiring an additional 356,737 shares during the period. Hedge funds and other institutional investors own 15.06% of the company's stock.
About Black Stone Minerals
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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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