Black Stone Minerals (NYSE:BSM) Stock Rating Lowered by ValuEngine

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ValuEngine downgraded shares of Black Stone Minerals (NYSE:BSM) from a hold rating to a sell rating in a research report sent to investors on Friday, November 1st, ValuEngine reports.

A number of other analysts also recently weighed in on the company. Zacks Investment Research downgraded Black Stone Minerals from a strong-buy rating to a hold rating in a research report on Monday, October 21st. Citigroup set a $16.00 target price on Black Stone Minerals and gave the stock a buy rating in a research report on Monday, August 12th. TheStreet downgraded Black Stone Minerals from a b- rating to a c+ rating in a research report on Friday, August 23rd. Finally, Wells Fargo & Co assumed coverage on Black Stone Minerals in a research report on Friday, October 4th. They issued a market perform rating and a $19.00 target price for the company. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $19.20.

Shares of BSM traded up $0.23 during trading hours on Friday, reaching $13.31. 580,742 shares of the company’s stock traded hands, compared to its average volume of 203,500. The stock has a market cap of $2.70 billion, a PE ratio of 9.18 and a beta of 0.56. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.52. The firm’s 50 day simple moving average is $13.53 and its 200-day simple moving average is $15.14. Black Stone Minerals has a 12 month low of $12.53 and a 12 month high of $18.77.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.32 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.04. The firm had revenue of $137.37 million during the quarter, compared to the consensus estimate of $137.62 million. Black Stone Minerals had a return on equity of 32.23% and a net margin of 48.19%. As a group, analysts expect that Black Stone Minerals will post 1 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th will be paid a $0.37 dividend. The ex-dividend date of this dividend is Wednesday, November 13th. This represents a $1.48 dividend on an annualized basis and a yield of 11.12%. Black Stone Minerals’s dividend payout ratio (DPR) is currently 102.07%.

In related news, insider (Rick) Anthon Richard purchased 6,250,000 shares of the firm’s stock in a transaction on Thursday, October 17th. The shares were acquired at an average cost of $0.01 per share, with a total value of $50,000.00. 24.40% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of BSM. Zions Bancorporation N.A. increased its stake in shares of Black Stone Minerals by 131.3% during the second quarter. Zions Bancorporation N.A. now owns 6,012,972 shares of the oil and gas producer’s stock valued at $93,201,000 after buying an additional 3,413,272 shares during the period. William Marsh Rice University increased its stake in shares of Black Stone Minerals by 72.8% during the second quarter. William Marsh Rice University now owns 7,266,343 shares of the oil and gas producer’s stock valued at $112,628,000 after buying an additional 3,061,173 shares during the period. Texas Children s increased its stake in shares of Black Stone Minerals by 106.7% during the second quarter. Texas Children s now owns 4,689,939 shares of the oil and gas producer’s stock valued at $72,694,000 after buying an additional 2,421,347 shares during the period. EdgePoint Investment Group Inc. increased its stake in shares of Black Stone Minerals by 52.2% during the second quarter. EdgePoint Investment Group Inc. now owns 2,768,699 shares of the oil and gas producer’s stock valued at $42,915,000 after buying an additional 950,151 shares during the period. Finally, Brown Advisory Inc. increased its stake in shares of Black Stone Minerals by 58.3% during the second quarter. Brown Advisory Inc. now owns 1,698,942 shares of the oil and gas producer’s stock valued at $26,334,000 after buying an additional 625,685 shares during the period. 23.12% of the stock is currently owned by hedge funds and other institutional investors.

About Black Stone Minerals

Black Stone Minerals, L.P. owns and manages oil and natural gas mineral interests in the United States. The company owns mineral interests in approximately 16.8 million acres, nonparticipating royalty interests in 1.9 million acres, and overriding royalty interests in 2.1 million acres located in 41 states and 64 onshore basins in the continental United States.

Further Reading: Fundamental Analysis

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