Black Stone Minerals, L.P. (NYSE:BSM – Get Rating) has been given a consensus rating of "Buy" by the six research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $19.75.
A number of brokerages recently commented on BSM. TheStreet upgraded Black Stone Minerals from a "c+" rating to a "b" rating in a research report on Friday, September 2nd. StockNews.com upgraded Black Stone Minerals from a "hold" rating to a "buy" rating in a research report on Saturday, August 6th. Finally, KeyCorp initiated coverage on Black Stone Minerals in a research note on Monday. They issued an "overweight" rating and a $22.00 price objective for the company.
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Insider Buying and Selling
In related news, CEO Thomas L. Carter, Jr. bought 25,000 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was purchased at an average cost of $16.39 per share, with a total value of $409,750.00. Following the purchase, the chief executive officer now directly owns 2,273,012 shares of the company's stock, valued at approximately $37,254,666.68. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Thomas L. Carter, Jr. bought 25,000 shares of Black Stone Minerals stock in a transaction dated Wednesday, September 14th. The stock was acquired at an average cost of $16.39 per share, with a total value of $409,750.00. Following the acquisition, the chief executive officer now owns 2,273,012 shares of the company's stock, valued at $37,254,666.68. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Thomas L. Carter, Jr. bought 20,000 shares of Black Stone Minerals stock in a transaction dated Thursday, August 4th. The stock was purchased at an average cost of $14.90 per share, with a total value of $298,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,168,012 shares in the company, valued at approximately $32,303,378.80. The disclosure for this purchase can be found here. Insiders purchased 70,000 shares of company stock valued at $1,114,500 in the last three months. 20.50% of the stock is owned by corporate insiders.
Institutional Trading of Black Stone Minerals
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CI Investments Inc. purchased a new stake in Black Stone Minerals during the 1st quarter valued at approximately $40,000. CoreCap Advisors LLC acquired a new position in Black Stone Minerals during the 2nd quarter worth approximately $49,000. Covestor Ltd acquired a new position in Black Stone Minerals during the 1st quarter worth approximately $77,000. Chilton Capital Management LLC acquired a new position in Black Stone Minerals during the 4th quarter worth approximately $71,000. Finally, Guardian Wealth Management Inc. acquired a new position in Black Stone Minerals during the 4th quarter worth approximately $102,000. 15.06% of the stock is owned by hedge funds and other institutional investors.
Black Stone Minerals Stock Down 1.8 %
Shares of BSM opened at $15.84 on Monday. The firm has a market cap of $3.55 billion, a P/E ratio of 13.42 and a beta of 1.07. The stock's 50 day moving average is $15.37 and its two-hundred day moving average is $14.80. Black Stone Minerals has a 12 month low of $9.70 and a 12 month high of $17.36. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.12.
Black Stone Minerals (NYSE:BSM – Get Rating) last announced its quarterly earnings data on Monday, August 1st. The oil and gas producer reported $0.43 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. Black Stone Minerals had a return on equity of 41.83% and a net margin of 60.34%. The firm had revenue of $180.37 million for the quarter, compared to the consensus estimate of $156.08 million. During the same quarter last year, the business posted $0.25 earnings per share. Analysts predict that Black Stone Minerals will post 1.65 earnings per share for the current fiscal year.
Black Stone Minerals Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Friday, August 12th were paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 10.61%. This is a boost from Black Stone Minerals's previous quarterly dividend of $0.40. The ex-dividend date was Thursday, August 11th. Black Stone Minerals's payout ratio is presently 142.37%.
Black Stone Minerals Company Profile
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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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