Black Stone Minerals (NYSE:BSM) Upgraded at StockNews.com

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

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

Black Stone Minerals Stock Up 3.0 %

Shares of BSM stock traded up $0.42 on Tuesday, hitting $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 one year low of $13.94 and a one year high of $18.55. The business has a 50 day moving average price of $15.63 and a 200 day moving average price of $15.80. The company has a market cap of $3.07 billion, a PE ratio of 9.49 and a beta of 0.93.

Black Stone Minerals (NYSE:BSM) last posted its quarterly 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 the consensus estimate of $124.24 million. During the same quarter in the prior year, the firm posted $0.35 EPS. Equities research analysts expect that Black Stone Minerals will post 1.36 EPS for the current year.

Hedge Funds Weigh In On Black Stone Minerals

A number of large investors have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in Black Stone Minerals in the 4th quarter worth approximately $5,869,000. Nomura Holdings Inc. purchased a new stake in shares of Black Stone Minerals during the fourth quarter valued at $5,635,000. International Assets Investment Management LLC increased its position in shares of Black Stone Minerals by 1,296.7% in the 4th quarter. International Assets Investment Management LLC now owns 223,647 shares of the oil and gas producer’s stock valued at $3,569,000 after acquiring an additional 207,634 shares during the period. Investment Management Associates Inc. ADV raised its stake in Black Stone Minerals by 18.3% in the 4th quarter. Investment Management Associates Inc. ADV now owns 1,221,389 shares of the oil and gas producer’s stock worth $19,493,000 after acquiring an additional 188,975 shares during the last quarter. Finally, LB Partners LLC acquired a new stake in Black Stone Minerals during the 4th quarter worth about $2,742,000. 14.49% of the stock is owned by institutional investors and hedge funds.

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.