Black Stone Minerals (NYSE:BSM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Monday, Zacks.com reports. The brokerage presently has a $7.00 price target on the oil and gas producer’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 10.41% from the company’s current price.

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. “

A number of other equities analysts have also recently weighed in on BSM. Piper Sandler cut shares of Black Stone Minerals from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $18.00 to $13.00 in a research note on Friday, February 21st. ValuEngine raised shares of Black Stone Minerals from a “strong sell” rating to a “sell” rating in a research note on Friday, May 1st. Stifel Nicolaus reissued a “buy” rating and issued a $14.00 price objective on shares of Black Stone Minerals in a research note on Thursday, February 6th. Citigroup lowered their price objective on shares of Black Stone Minerals from $16.00 to $6.50 and set a “buy” rating on the stock in a research note on Monday, March 30th. Finally, Raymond James lowered their price objective on shares of Black Stone Minerals from $12.00 to $11.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $11.56.

Shares of NYSE:BSM traded down $0.12 on Monday, reaching $6.34. 165,600 shares of the company were exchanged, compared to its average volume of 521,023. The company has a current ratio of 14.80, a quick ratio of 14.80 and a debt-to-equity ratio of 0.48. Black Stone Minerals has a 1-year low of $4.04 and a 1-year high of $16.64. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 4.99 and a beta of 1.37. The company has a 50-day moving average of $6.13 and a 200-day moving average of $9.20.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.18 by $0.16. Black Stone Minerals had a net margin of 42.39% and a return on equity of 26.79%. The business had revenue of $183.05 million for the quarter, compared to analysts’ expectations of $102.42 million. As a group, analysts forecast that Black Stone Minerals will post 0.78 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the business. Americana Partners LLC purchased a new position in Black Stone Minerals in the 4th quarter valued at about $38,000. Ladenburg Thalmann Financial Services Inc. lifted its holdings in Black Stone Minerals by 480.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 5,800 shares of the oil and gas producer’s stock valued at $74,000 after purchasing an additional 4,800 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Black Stone Minerals in the 4th quarter valued at about $105,000. Russell Investments Group Ltd. purchased a new position in Black Stone Minerals in the 4th quarter valued at about $105,000. Finally, US Bancorp DE lifted its holdings in Black Stone Minerals by 121.5% in the 4th quarter. US Bancorp DE now owns 12,950 shares of the oil and gas producer’s stock valued at $165,000 after purchasing an additional 7,103 shares in the last quarter. Institutional investors own 25.05% of the company’s stock.

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.

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