Black Stone Minerals LP (NYSE:BSM) has earned an average rating of “Buy” from the six analysts that are presently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $19.50.

Separately, Zacks Investment Research raised Black Stone Minerals from a “strong sell” rating to a “hold” rating and set a $19.00 price target for the company in a research note on Thursday, October 25th.

Shares of Black Stone Minerals stock opened at $16.35 on Friday. Black Stone Minerals has a 12 month low of $15.93 and a 12 month high of $19.29. The company has a market cap of $3.38 billion, a P/E ratio of 16.19 and a beta of 0.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.02 and a quick ratio of 1.02.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Investors of record on Wednesday, November 14th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, November 13th. This is a positive change from Black Stone Minerals’s previous quarterly dividend of $0.34. This represents a $1.48 dividend on an annualized basis and a yield of 9.05%. Black Stone Minerals’s dividend payout ratio is presently 146.53%.

In related news, SVP Luke Stevens Putman sold 14,230 shares of the stock in a transaction that occurred on Tuesday, October 16th. The stock was sold at an average price of $17.58, for a total transaction of $250,163.40. Following the completion of the transaction, the senior vice president now directly owns 287,464 shares of the company’s stock, valued at $5,053,617.12. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Brock Morris sold 17,400 shares of the stock in a transaction that occurred on Wednesday, September 12th. The shares were sold at an average price of $18.58, for a total value of $323,292.00. Following the transaction, the senior vice president now directly owns 299,990 shares of the company’s stock, valued at $5,573,814.20. The disclosure for this sale can be found here. Over the last three months, insiders have purchased 12,875 shares of company stock valued at $216,537. 25.10% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in BSM. Zions Bancorporation bought a new position in Black Stone Minerals during the second quarter valued at approximately $48,327,000. CI Global Investments Inc. boosted its stake in Black Stone Minerals by 23.7% during the third quarter. CI Global Investments Inc. now owns 7,029,246 shares of the oil and gas producer’s stock valued at $128,003,000 after buying an additional 1,348,665 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Black Stone Minerals in the 3rd quarter valued at approximately $6,255,000. Renaissance Technologies LLC lifted its stake in shares of Black Stone Minerals by 1,314.8% in the 2nd quarter. Renaissance Technologies LLC now owns 284,755 shares of the oil and gas producer’s stock valued at $5,265,000 after purchasing an additional 264,628 shares during the last quarter. Finally, Gruss & Co. Inc. lifted its stake in shares of Black Stone Minerals by 32.9% in the 3rd quarter. Gruss & Co. Inc. now owns 362,264 shares of the oil and gas producer’s stock valued at $6,597,000 after purchasing an additional 89,766 shares during the last quarter. 14.23% of the stock is owned by institutional investors.

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 in 64 onshore basins in the continental United States.

Further Reading: Balance Sheet

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