Zacks Research Upgrades Black Stone Minerals (NYSE:BSM) to “Strong-Buy”

Black Stone Minerals (NYSE:BSM) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other research analysts have also weighed in on the stock. Weiss Ratings reissued a “hold (c-)” rating on shares of Black Stone Minerals in a research report on Monday, December 29th. KeyCorp reiterated a “sector weight” rating on shares of Black Stone Minerals in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.00.

Black Stone Minerals Stock Up 0.3%

BSM stock opened at $13.38 on Tuesday. The firm has a market capitalization of $2.83 billion, a PE ratio of 11.63 and a beta of 0.13. The company has a quick ratio of 4.37, a current ratio of 4.37 and a debt-to-equity ratio of 0.12. Black Stone Minerals has a twelve month low of $11.78 and a twelve month high of $15.60. The stock’s 50 day moving average is $13.74 and its 200-day moving average is $13.06.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.12. Black Stone Minerals had a return on equity of 40.08% and a net margin of 61.31%.The business had revenue of $132.47 million during the quarter, compared to analyst estimates of $106.20 million. Sell-side analysts expect that Black Stone Minerals will post 1.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in shares of Black Stone Minerals by 7.0% in the 1st quarter. Royal Bank of Canada now owns 119,894 shares of the oil and gas producer’s stock worth $1,831,000 after purchasing an additional 7,818 shares during the period. SCS Capital Management LLC bought a new stake in shares of Black Stone Minerals in the first quarter valued at $219,000. Belpointe Asset Management LLC purchased a new position in shares of Black Stone Minerals during the 1st quarter valued at $212,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Black Stone Minerals during the 2nd quarter valued at $135,000. Finally, Redhawk Wealth Advisors Inc. bought a new position in shares of Black Stone Minerals during the 2nd quarter worth $137,000. 14.49% of the stock is owned by institutional investors.

Black Stone Minerals Company Profile

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.