Black Stone Minerals (BSM) Raised to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Black Stone Minerals (NYSE:BSM) from a hold rating to a buy rating in a research report released on Monday. They currently have $20.00 target price on the oil and gas producer’s stock.
According to Zacks, “Black Stone Minerals, L.P. is the owner of oil and natural gas mineral primarily in the United States. Black Stone Minerals, L.P. is based in Houston, United States. “
Other equities analysts have also issued research reports about the stock. Stifel Nicolaus began coverage on shares of Black Stone Minerals in a report on Wednesday, January 17th. They issued a hold rating and a $19.00 price objective on the stock. Barclays set a $18.00 price objective on shares of Black Stone Minerals and gave the stock a buy rating in a report on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $19.00.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 20th were issued a $0.3125 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $1.25 dividend on an annualized basis and a yield of 7.27%. Black Stone Minerals’s dividend payout ratio is currently 126.26%.
In related news, CEO Thomas L. Carter, Jr. bought 14,240 shares of the business’s stock in a transaction dated Thursday, March 1st. The shares were acquired at an average price of $17.26 per share, for a total transaction of $245,782.40. Following the purchase, the chief executive officer now owns 972,182 shares in the company, valued at approximately $16,779,861.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Jeffrey P. Wood sold 10,810 shares of the company’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $18.30, for a total transaction of $197,823.00. Following the completion of the sale, the chief financial officer now owns 53,031 shares in the company, valued at approximately $970,467.30. The disclosure for this sale can be found here. Insiders sold a total of 65,644 shares of company stock worth $1,168,941 in the last quarter. 25.00% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of BSM. Tower Research Capital LLC TRC acquired a new stake in shares of Black Stone Minerals in the 4th quarter valued at about $170,000. Acadian Asset Management LLC acquired a new stake in shares of Black Stone Minerals in the 4th quarter valued at about $221,000. Jane Street Group LLC acquired a new stake in shares of Black Stone Minerals in the 4th quarter valued at about $221,000. Renaissance Technologies LLC acquired a new stake in shares of Black Stone Minerals in the 4th quarter valued at about $245,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Black Stone Minerals in the 4th quarter valued at about $297,000. Institutional investors and hedge funds own 22.74% of the company’s stock.
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About Black Stone Minerals
Black Stone Minerals, L.P. is an owner of oil and natural gas mineral interests in the United States. The Company’s principal business is maximizing the value of its existing portfolio of mineral and royalty assets through active management and expanding its asset base through acquisitions of additional mineral and royalty interests.
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