Black Stone Minerals LP (NYSE:BSM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Tuesday. The brokerage presently has a $21.00 target price on the stock. Zacks Investment Research’s price target points to a potential upside of 11.11% from the stock’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 issued reports on the company. Stifel Nicolaus started coverage on Black Stone Minerals in a report on Tuesday, September 6th. They issued a “buy” rating and a $19.00 price objective for the company. Barclays PLC increased their price objective on Black Stone Minerals from $18.00 to $20.00 and gave the stock an “overweight” rating in a report on Tuesday, August 16th.

Shares of Black Stone Minerals (NYSE:BSM) opened at 18.90 on Tuesday. The stock has a 50 day moving average price of $17.96 and a 200-day moving average price of $16.56. Black Stone Minerals has a 12 month low of $10.71 and a 12 month high of $19.65. The stock’s market cap is $3.61 billion.

The company also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Thursday, November 17th will be given a $0.2875 dividend. The ex-dividend date is Tuesday, November 15th. This represents a $1.15 dividend on an annualized basis and a yield of 6.08%. Black Stone Minerals’s dividend payout ratio (DPR) is -958.25%.

In other news, CEO Thomas L. Carter, Jr. bought 3,000 shares of the business’s stock in a transaction on Thursday, November 17th. The stock was purchased at an average cost of $18.21 per share, for a total transaction of $54,630.00. Following the completion of the transaction, the chief executive officer now directly owns 502,506 shares of the company’s stock, valued at approximately $9,150,634.26. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas L. Carter, Jr. bought 14,000 shares of the business’s stock in a transaction on Wednesday, November 16th. The stock was purchased at an average price of $17.94 per share, with a total value of $251,160.00. Following the completion of the transaction, the chief executive officer now directly owns 491,506 shares of the company’s stock, valued at $8,817,617.64. The disclosure for this purchase can be found here. 24.30% of the stock is owned by company insiders.

A number of large investors have recently added to or reduced their stakes in the company. Morgan Stanley increased its stake in Black Stone Minerals by 55.3% in the third quarter. Morgan Stanley now owns 1,641,299 shares of the company’s stock worth $29,231,000 after buying an additional 584,503 shares during the period. First Trust Advisors LP purchased a new stake in Black Stone Minerals during the third quarter worth $5,836,000. Van ECK Associates Corp increased its stake in Black Stone Minerals by 2.1% in the second quarter. Van ECK Associates Corp now owns 286,836 shares of the company’s stock worth $4,446,000 after buying an additional 5,903 shares during the period. Gruss & Co. Inc. increased its stake in Black Stone Minerals by 232.4% in the second quarter. Gruss & Co. Inc. now owns 232,656 shares of the company’s stock worth $3,606,000 after buying an additional 162,656 shares during the period. Finally, Lucas Capital Management increased its stake in Black Stone Minerals by 16.1% in the second quarter. Lucas Capital Management now owns 181,334 shares of the company’s stock worth $2,811,000 after buying an additional 25,117 shares during the period. Hedge funds and other institutional investors own 16.66% 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 managing its existing portfolio of mineral and royalty assets to maximize its value and expanding its asset base through acquisitions of additional mineral and royalty interests.

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