Todays Report: Today, Black Stone Minerals LP (BSM) Upgrade at The Zacks Investment Research

Today, Black Stone Minerals LP (BSM) Upgrade at The Zacks Investment Research

Zacks Investment Research upgraded shares of Black Stone Minerals LP (NYSE:BSM) from a hold rating to a buy rating in a research note published on Tuesday morning. The firm currently has $21.00 price target on the stock.

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 also recently weighed in on BSM. Barclays PLC boosted their target price on shares of Black Stone Minerals from $18.00 to $20.00 and gave the stock an overweight rating in a report on Tuesday, August 16th. Stifel Nicolaus assumed coverage on shares of Black Stone Minerals in a report on Tuesday, September 6th. They set a buy rating and a $19.00 target price on the stock.

Black Stone Minerals (NYSE:BSM) opened at 18.90 on Tuesday. The stock has a 50 day moving average of $17.96 and a 200-day moving average of $16.56. The firm’s market cap is $3.61 billion. Black Stone Minerals has a 52 week low of $10.71 and a 52 week high of $19.65.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Thursday, November 17th will be given a dividend of $0.2875 per share. The ex-dividend date of this dividend 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 related news, CEO Thomas L. Carter, Jr. acquired 3,000 shares of Black Stone Minerals stock in a transaction on Thursday, November 17th. The stock was purchased at an average cost of $18.21 per share, with a total value of $54,630.00. Following the completion of the transaction, the chief executive officer now directly owns 502,506 shares in the company, valued at approximately $9,150,634.26. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Thomas L. Carter, Jr. acquired 14,000 shares of Black Stone Minerals stock in a transaction on Wednesday, November 16th. The shares were bought at an average cost of $17.94 per share, with a total value of $251,160.00. Following the completion of the transaction, the chief executive officer now owns 491,506 shares of the company’s stock, valued at $8,817,617.64. The disclosure for this purchase can be found here. Company insiders own 24.30% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the company. A.R.T. Advisors LLC bought a new position in Black Stone Minerals during the second quarter worth approximately $172,000. Clear Harbor Asset Management LLC bought a new position in Black Stone Minerals during the third quarter worth approximately $178,000. BB&T Securities LLC bought a new position in Black Stone Minerals during the third quarter worth approximately $244,000. Global X Management Co. LLC bought a new position in Black Stone Minerals during the second quarter worth approximately $333,000. Finally, Bank of Montreal Can bought a new position in Black Stone Minerals during the second quarter worth approximately $412,000. 16.66% of the stock is owned by hedge funds and other institutional investors.

Black Stone Minerals Company Profile

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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