Black Stone Minerals saw its IBD SmartSelect Composite Rating jump to 96 Wednesday, up from 94 the day before.
The upgrade means the stock is now outperforming 96% of all other stocks in terms of key performance metrics and technical strength. History shows the top market performers tend to have a 95 or higher score as they launch their major moves.
Black Stone Minerals is currently forming a cup with handle, with a 16.70 buy point. Look for the stock to break out in heavy trade at least 40% higher than normal.
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One weak spot is the company's 42 EPS Rating, which tracks quarterly and annual earnings growth. Look for that to improve to 80 or better to show it's in the top 20% of all stocks.
Its Accumulation/Distribution Rating of B- shows moderate buying by institutional investors over the last 13 weeks.
Earnings News
The company posted 1,080% earnings-per-share growth for Q2. Top line growth rose 209%, up from -41% in the prior quarter. That marks one quarter of increasing revenue growth.
Black Stone Minerals holds the No. 32 rank among its peers in the Oil&Gas-U.S. Exploration & Production industry group. Antero Resources, Chord Energy Corp and Continental Res are among the top 5 highly-rated stocks within the group.
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