Shares of Black Stone Minerals, L.P. (NYSE:BSM – Get Rating) have earned a consensus recommendation of "Buy" from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $19.75.
A number of analysts have commented on BSM shares. KeyCorp started coverage on Black Stone Minerals in a research report on Monday, September 19th. They issued an "overweight" rating and a $22.00 price target for the company. StockNews.com upgraded Black Stone Minerals from a "hold" rating to a "buy" rating in a research report on Saturday, August 6th. Finally, TheStreet upgraded Black Stone Minerals from a "c+" rating to a "b" rating in a research report on Friday, September 2nd.
Get Black Stone Minerals alerts:Black Stone Minerals Stock Down 4.4 %
Black Stone Minerals stock opened at $14.85 on Monday. The stock has a market cap of $3.33 billion, a PE ratio of 12.58 and a beta of 1.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25. Black Stone Minerals has a one year low of $9.70 and a one year high of $17.36. The stock has a fifty day moving average of $15.43 and a 200 day moving average of $14.87.
Black Stone Minerals (NYSE:BSM – Get Rating) last posted its quarterly earnings data on Monday, August 1st. The oil and gas producer reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.03. The company had revenue of $180.37 million during the quarter, compared to analysts' expectations of $156.08 million. Black Stone Minerals had a return on equity of 41.83% and a net margin of 60.34%. During the same quarter in the prior year, the business earned $0.25 earnings per share. As a group, sell-side analysts predict that Black Stone Minerals will post 1.65 EPS for the current year.Black Stone Minerals Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Friday, August 12th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.68 annualized dividend and a dividend yield of 11.31%. This is a boost from Black Stone Minerals's previous quarterly dividend of $0.40. Black Stone Minerals's dividend payout ratio (DPR) is currently 142.37%.
Insider Buying and Selling
In other news, CEO Thomas L. Carter, Jr. purchased 25,000 shares of the company's stock in a transaction that occurred on Wednesday, September 14th. The stock was bought at an average cost of $16.39 per share, with a total value of $409,750.00. Following the completion of the purchase, the chief executive officer now owns 2,273,012 shares in the company, valued at $37,254,666.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Thomas L. Carter, Jr. purchased 25,000 shares of the company's stock in a transaction that occurred on Wednesday, September 14th. The stock was bought at an average cost of $16.39 per share, with a total value of $409,750.00. Following the completion of the purchase, the chief executive officer now owns 2,273,012 shares in the company, valued at $37,254,666.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas L. Carter, Jr. purchased 20,000 shares of the company's stock in a transaction that occurred on Thursday, August 4th. The shares were purchased at an average cost of $14.90 per share, with a total value of $298,000.00. Following the completion of 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. Over the last 90 days, insiders acquired 70,000 shares of company stock worth $1,114,500. 21.10% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On Black Stone Minerals
Several institutional investors have recently modified their holdings of the stock. Advisory Services Network LLC lifted its stake in shares of Black Stone Minerals by 6.9% in the 2nd quarter. Advisory Services Network LLC now owns 10,800 shares of the oil and gas producer's stock valued at $148,000 after purchasing an additional 700 shares during the last quarter. Mraz Amerine & Associates Inc. lifted its stake in shares of Black Stone Minerals by 0.5% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 133,634 shares of the oil and gas producer's stock valued at $1,829,000 after purchasing an additional 727 shares during the last quarter. Linscomb & Williams Inc. lifted its stake in shares of Black Stone Minerals by 7.3% in the 1st 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 last quarter. Gruss & Co. LLC lifted its stake in shares of Black Stone Minerals by 0.7% in the 2nd quarter. Gruss & Co. LLC now owns 121,863 shares of the oil and gas producer's stock valued at $1,668,000 after purchasing an additional 900 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in shares of Black Stone Minerals by 8.4% in the 2nd quarter. Commonwealth Equity Services LLC now owns 15,214 shares of the oil and gas producer's stock valued at $208,000 after purchasing an additional 1,176 shares during the last quarter. 15.06% of the stock is owned by institutional investors.
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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