Black Stone Minerals (NYSE:BSM) Upgraded by StockNews.com to Buy Rating

Black Stone Minerals (NYSE:BSM) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Thursday.

Separately, Piper Sandler decreased their price objective on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th.

Black Stone Minerals Stock Up 0.6 %

BSM stock opened at $15.15 on Thursday. The firm has a 50 day moving average of $14.92 and a 200 day moving average of $15.31. The stock has a market capitalization of $3.41 billion, a PE ratio of 9.35 and a beta of 0.94. Black Stone Minerals has a 52 week low of $13.94 and a 52 week high of $17.80.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The business had revenue of $134.86 million during the quarter, compared to analysts’ expectations of $117.68 million. During the same period in the previous year, the business posted $0.27 EPS. On average, equities research analysts expect that Black Stone Minerals will post 1.32 earnings per share for the current year.

Insider Activity at Black Stone Minerals

In related news, SVP Carrie Pearson Clark sold 18,532 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $14.84, for a total value of $275,014.88. Following the completion of the transaction, the senior vice president now directly owns 116,923 shares in the company, valued at $1,735,137.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, SVP Carrie Pearson Clark sold 18,532 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $14.84, for a total value of $275,014.88. Following the completion of the transaction, the senior vice president now directly owns 116,923 shares in the company, valued at $1,735,137.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Thomas L. Carter, Jr. bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the completion of the purchase, the chief executive officer now owns 3,133,128 shares in the company, valued at approximately $44,239,767.36. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 18.60% of the company’s stock.

Institutional Investors Weigh In On Black Stone Minerals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Prevail Innovative Wealth Advisors LLC purchased a new stake in Black Stone Minerals in the 1st quarter worth $2,560,000. Magnolia Capital Advisors LLC purchased a new stake in Black Stone Minerals in the 2nd quarter worth $2,480,000. International Assets Investment Management LLC purchased a new stake in Black Stone Minerals in the 3rd quarter worth $8,240,000. Fiducient Advisors LLC purchased a new stake in Black Stone Minerals in the 3rd quarter worth $12,253,000. Finally, GraniteShares Advisors LLC increased its holdings in Black Stone Minerals by 14.2% in the 2nd quarter. GraniteShares Advisors LLC now owns 121,795 shares of the oil and gas producer’s stock worth $1,909,000 after acquiring an additional 15,188 shares in the last quarter. Hedge funds and other institutional investors own 14.49% of the company’s stock.

About Black Stone Minerals

Black Stone Minerals, L.P., together with its subsidiaries, owns and manages oil and natural gas mineral interests. It owns mineral interests in approximately 16.8 million gross acres, nonparticipating royalty interests in 1.8 million gross acres, and overriding royalty interests in 1.6 million gross acres located in 41 states in the United States.