Black Stone Minerals, L.P. (NYSE:BSM) Receives Average Rating of “Hold” from Brokerages
by Danessa Lincoln · The Markets DailyShares of Black Stone Minerals, L.P. (NYSE:BSM – Get Free Report) have been assigned an average recommendation of “Hold” from the four research firms that are currently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $14.00.
Several equities analysts recently commented on BSM shares. Zacks Research lowered Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Piper Sandler lifted their price objective on shares of Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Black Stone Minerals in a research report on Monday, December 29th.
Black Stone Minerals Trading Up 0.6%
NYSE:BSM opened at $15.40 on Monday. The business’s 50-day moving average is $14.75 and its two-hundred day moving average is $13.78. The firm has a market capitalization of $3.27 billion, a PE ratio of 12.03 and a beta of 0.17. Black Stone Minerals has a 12 month low of $11.78 and a 12 month high of $15.52. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.88 and a quick ratio of 3.88.
Black Stone Minerals (NYSE:BSM – Get Free Report) last issued its earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.04. Black Stone Minerals had a return on equity of 43.31% and a net margin of 62.26%.The company had revenue of $118.70 million during the quarter, compared to the consensus estimate of $98.08 million. Research analysts predict that Black Stone Minerals will post 1.36 earnings per share for the current fiscal year.
Black Stone Minerals Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 18th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $1.20 annualized dividend and a yield of 7.8%. Black Stone Minerals’s payout ratio is 93.75%.
Insiders Place Their Bets
In other Black Stone Minerals news, SVP Luke Stevens Putman sold 30,276 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $15.25, for a total value of $461,709.00. Following the completion of the transaction, the senior vice president directly owned 761,417 shares of the company’s stock, valued at $11,611,609.25. This represents a 3.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 17.80% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC grew its stake in Black Stone Minerals by 61.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 900 shares in the last quarter. Newbridge Financial Services Group Inc. increased its holdings in Black Stone Minerals by 71.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,981 shares of the oil and gas producer’s stock worth $39,000 after purchasing an additional 1,245 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of Black Stone Minerals in the 4th quarter valued at approximately $43,000. Kestra Advisory Services LLC purchased a new position in shares of Black Stone Minerals during the 4th quarter valued at approximately $86,000. Finally, Tower Research Capital LLC TRC boosted its stake in shares of Black Stone Minerals by 7,822.8% during the 2nd quarter. Tower Research Capital LLC TRC now owns 7,289 shares of the oil and gas producer’s stock valued at $95,000 after buying an additional 7,197 shares during the last quarter. Institutional investors and hedge funds own 14.49% of the company’s stock.
Black Stone Minerals Company Profile
Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.
Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.