Black Stone Minerals (BSM) Earns Outperform Rating from Analysts at Royal Bank of Canada

Royal Bank of Canada assumed coverage on shares of Black Stone Minerals (NYSE:BSM) in a research note issued to investors on Thursday, April 18th, Marketbeat.com reports. The firm set an “outperform” rating and a $23.00 price target on the oil and gas producer’s stock. Royal Bank of Canada’s price objective indicates a potential upside of 29.36% from the stock’s current price.

BSM has been the subject of a number of other reports. Raymond James set a $21.00 price target on shares of Black Stone Minerals and gave the stock a “buy” rating in a research note on Wednesday, January 23rd. Zacks Investment Research downgraded shares of Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 20th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $21.50.

Shares of NYSE:BSM traded down $0.01 during midday trading on Thursday, hitting $17.78. 102,826 shares of the stock traded hands, compared to its average volume of 235,499. The company has a market cap of $3.65 billion, a price-to-earnings ratio of 12.26 and a beta of 0.63. The company has a current ratio of 2.33, a quick ratio of 2.43 and a debt-to-equity ratio of 0.52. Black Stone Minerals has a one year low of $15.23 and a one year high of $19.29.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data on Monday, February 25th. The oil and gas producer reported $0.72 EPS for the quarter, beating the consensus estimate of $0.28 by $0.44. Black Stone Minerals had a net margin of 36.75% and a return on equity of 25.55%. The firm had revenue of $246.05 million during the quarter, compared to the consensus estimate of $137.77 million. As a group, research analysts forecast that Black Stone Minerals will post 1.06 EPS for the current fiscal year.

In other Black Stone Minerals news, SVP Holbrook F. Dorn sold 15,358 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $18.51, for a total value of $284,276.58. Following the sale, the senior vice president now owns 730,274 shares in the company, valued at $13,517,371.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Holbrook F. Dorn sold 15,503 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $18.51, for a total transaction of $286,960.53. Following the completion of the sale, the senior vice president now owns 730,274 shares in the company, valued at approximately $13,517,371.74. The disclosure for this sale can be found here. Over the last three months, insiders sold 162,125 shares of company stock valued at $2,852,869. 24.40% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in BSM. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in Black Stone Minerals in the first quarter worth about $71,000. PNC Financial Services Group Inc. purchased a new stake in Black Stone Minerals in the fourth quarter worth about $96,000. Jane Street Group LLC purchased a new stake in Black Stone Minerals in the fourth quarter worth about $183,000. Raymond James Financial Services Advisors Inc. grew its holdings in Black Stone Minerals by 10.0% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 13,164 shares of the oil and gas producer’s stock worth $204,000 after purchasing an additional 1,200 shares during the period. Finally, Oppenheimer & Co. Inc. purchased a new stake in Black Stone Minerals in the fourth quarter worth about $387,000. Institutional investors and hedge funds own 15.42% 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 64 onshore basins in the continental United States.

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