Zacks Investment Research cut shares of Black Stone Minerals (NYSE:BSM) from a hold rating to a strong sell rating in a research report sent to investors on Wednesday.

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. “

BSM has been the subject of several other reports. Stifel Nicolaus set a $21.00 target price on shares of Black Stone Minerals and gave the company a buy rating in a research report on Tuesday, August 7th. Scotiabank upgraded shares of Black Stone Minerals from a sector perform rating to an outperform rating in a research report on Monday, June 25th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $20.00.

Shares of NYSE BSM opened at $17.62 on Wednesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.16 and a quick ratio of 1.16. The company has a market cap of $3.69 billion, a P/E ratio of 17.45 and a beta of 0.38. Black Stone Minerals has a 12-month low of $16.36 and a 12-month high of $19.29.

Black Stone Minerals (NYSE:BSM) last announced its earnings results on Monday, August 6th. The oil and gas producer reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.08). The business had revenue of $109.31 million for the quarter, compared to the consensus estimate of $122.98 million. Black Stone Minerals had a net margin of 17.79% and a return on equity of 9.32%. Equities research analysts anticipate that Black Stone Minerals will post 0.87 EPS for the current year.

In related news, SVP Brock Morris sold 17,400 shares of the business’s stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $18.58, for a total transaction of $323,292.00. Following the completion of the sale, the senior vice president now directly owns 299,990 shares in the company, valued at $5,573,814.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 25.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its holdings in Black Stone Minerals by 176.9% during the second quarter. Tower Research Capital LLC TRC now owns 15,791 shares of the oil and gas producer’s stock valued at $292,000 after purchasing an additional 10,089 shares in the last quarter. California Public Employees Retirement System purchased a new position in Black Stone Minerals during the second quarter valued at approximately $323,000. Penn Davis Mcfarland Inc. purchased a new position in Black Stone Minerals during the second quarter valued at approximately $324,000. Citadel Advisors LLC lifted its holdings in Black Stone Minerals by 82.6% during the first quarter. Citadel Advisors LLC now owns 24,650 shares of the oil and gas producer’s stock valued at $408,000 after purchasing an additional 11,150 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings in Black Stone Minerals by 100.5% during the first quarter. Royal Bank of Canada now owns 41,899 shares of the oil and gas producer’s stock valued at $694,000 after purchasing an additional 21,000 shares in the last quarter. Institutional investors own 13.19% of the company’s stock.

Black Stone Minerals Company Profile

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 in 64 onshore basins in the continental United States.

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