Royal Bank of Canada initiated coverage on shares of Black Stone Minerals (NYSE:BSM) in a research note published on Thursday, BenzingaRatingsTable reports. The brokerage issued an outperform rating and a $23.00 target price on the oil and gas producer’s stock.
A number of other equities research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Black Stone Minerals from a strong-buy rating to a hold rating in a report on Wednesday, March 20th. Raymond James set a $22.00 price objective on shares of Black Stone Minerals and gave the company a buy rating in a report on Thursday, March 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. Black Stone Minerals currently has a consensus rating of Buy and an average price target of $21.50.
Shares of BSM opened at $18.01 on Thursday. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 0.45. Black Stone Minerals has a 12-month low of $15.23 and a 12-month high of $19.29. The stock has a market capitalization of $3.70 billion, a P/E ratio of 12.42 and a beta of 0.63.
In related news, SVP Luke Stevens Putman sold 18,783 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $17.32, for a total value of $325,321.56. Following the completion of the sale, the senior vice president now owns 304,910 shares of the company’s stock, valued at $5,281,041.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeffrey P. Wood sold 8,000 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $17.51, for a total transaction of $140,080.00. Following the completion of the sale, the chief financial officer now directly owns 110,219 shares of the company’s stock, valued at approximately $1,929,934.69. The disclosure for this sale can be found here. Insiders sold 138,864 shares of company stock valued at $2,414,312 in the last three months. 25.10% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of BSM. CI Investments Inc. acquired a new position in Black Stone Minerals in the fourth quarter valued at about $119,987,000. Johns Hopkins University acquired a new position in Black Stone Minerals in the fourth quarter valued at about $6,311,000. CIBC Private Wealth Group LLC lifted its position in Black Stone Minerals by 13.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 1,135,686 shares of the oil and gas producer’s stock valued at $17,580,000 after buying an additional 135,686 shares during the last quarter. Abacus Planning Group Inc. acquired a new position in Black Stone Minerals in the fourth quarter valued at about $2,825,000. Finally, Bank of Montreal Can lifted its position in Black Stone Minerals by 432.3% in the fourth quarter. Bank of Montreal Can now owns 125,080 shares of the oil and gas producer’s stock valued at $1,936,000 after buying an additional 101,580 shares during the last quarter. 15.38% of the stock is currently 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 64 onshore basins in the continental United States.
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