Black Stone Minerals (NYSE:BSM) Raised to “Buy” at StockNews.com

Black Stone Minerals (NYSE:BSM) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Separately, KeyCorp assumed coverage on Black Stone Minerals in a research report on Thursday, June 27th. They set a “sector weight” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $18.50.

Black Stone Minerals Stock Performance

Shares of NYSE:BSM traded up $0.42 during trading hours on Tuesday, reaching $14.62. The stock had a trading volume of 788,007 shares, compared to its average volume of 468,007. Black Stone Minerals has a 1 year low of $13.94 and a 1 year high of $18.55. The firm’s 50 day moving average is $15.63 and its 200-day moving average is $15.80. The stock has a market capitalization of $3.07 billion, a price-to-earnings ratio of 9.49 and a beta of 0.93.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, August 5th. The oil and gas producer reported $0.29 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.08). Black Stone Minerals had a net margin of 66.29% and a return on equity of 38.71%. The business had revenue of $109.62 million during the quarter, compared to analysts’ expectations of $124.24 million. During the same period last year, the company earned $0.35 EPS. Analysts forecast that Black Stone Minerals will post 1.36 EPS for the current year.

Institutional Trading of Black Stone Minerals

Several institutional investors and hedge funds have recently made changes to their positions in the company. Bogart Wealth LLC acquired a new stake in Black Stone Minerals during the 1st quarter worth $26,000. HBC Financial Services PLLC acquired a new stake in shares of Black Stone Minerals during the fourth quarter worth about $31,000. Newbridge Financial Services Group Inc. grew its holdings in shares of Black Stone Minerals by 279.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,036 shares of the oil and gas producer’s stock worth $48,000 after buying an additional 2,236 shares during the last quarter. Summit Securities Group LLC acquired a new position in Black Stone Minerals in the 2nd quarter valued at about $74,000. Finally, SG Americas Securities LLC purchased a new stake in Black Stone Minerals during the 1st quarter valued at approximately $102,000. 14.49% of the stock is owned by hedge funds and other institutional investors.

About Black Stone Minerals

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 1.6 million gross acres located in 41 states in the United States.