Black Stone Minerals (BSM) Cut to Hold at Zacks Investment Research

Black Stone Minerals (NYSE:BSM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

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 research firms have also commented on BSM. TheStreet lowered shares of Black Stone Minerals from a “b-” rating to a “c” rating in a research report on Monday, October 30th. Barclays set a $18.00 price objective on shares of Black Stone Minerals and gave the company a “buy” rating in a research report on Thursday, December 14th. Piper Jaffray Companies cut their price objective on shares of Black Stone Minerals from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, September 18th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $18.00 price objective on shares of Black Stone Minerals in a research report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company’s stock. Black Stone Minerals currently has a consensus rating of “Hold” and an average target price of $19.00.

Black Stone Minerals (NYSE BSM) traded down $0.04 during mid-day trading on Thursday, hitting $18.35. 155,000 shares of the stock were exchanged, compared to its average volume of 181,257. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.98 and a quick ratio of 1.98. Black Stone Minerals has a one year low of $15.12 and a one year high of $19.45. The company has a market capitalization of $3,730.00 and a price-to-earnings ratio of 28.23.

In other Black Stone Minerals news, CFO Jeffrey P. Wood sold 10,810 shares of Black Stone Minerals stock in a transaction that occurred on 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 directly owns 53,031 shares in the company, valued at $970,467.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Luke Stevens Putman sold 23,170 shares of Black Stone Minerals stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $18.28, for a total transaction of $423,547.60. Following the sale, the senior vice president now owns 257,141 shares of the company’s stock, valued at $4,700,537.48. The disclosure for this sale can be found here. Insiders own 25.00% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Black Stone Minerals by 7.7% in the 2nd quarter. FMR LLC now owns 1,766,800 shares of the oil and gas producer’s stock worth $27,845,000 after acquiring an additional 127,052 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Black Stone Minerals by 54.8% in the 2nd quarter. Goldman Sachs Group Inc. now owns 1,541,051 shares of the oil and gas producer’s stock worth $24,287,000 after acquiring an additional 545,689 shares during the last quarter. Yost Capital Management L.L.C. lifted its holdings in shares of Black Stone Minerals by 17.3% in the 2nd quarter. Yost Capital Management L.L.C. now owns 153,792 shares of the oil and gas producer’s stock worth $2,424,000 after acquiring an additional 22,669 shares during the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of Black Stone Minerals by 10.9% in the 3rd quarter. Evergreen Capital Management LLC now owns 613,870 shares of the oil and gas producer’s stock worth $10,645,000 after acquiring an additional 60,175 shares during the last quarter. Finally, Alps Advisors Inc. bought a new stake in shares of Black Stone Minerals in the 3rd quarter worth approximately $478,000. Hedge funds and other institutional investors own 21.98% 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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