StockNews.com Upgrades Black Stone Minerals (NYSE:BSM) to Buy

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

Separately, Piper Sandler decreased their price target on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, November 18th.

Black Stone Minerals Stock Down 0.5 %

NYSE BSM opened at $14.54 on Monday. Black Stone Minerals has a twelve month low of $13.94 and a twelve month high of $16.92. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 8.98 and a beta of 0.96. The business’s fifty day moving average is $15.06 and its 200 day moving average is $15.16.

Black Stone Minerals (NYSE:BSM) last posted its earnings results 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. The firm had revenue of $134.86 million during the quarter, compared to the consensus estimate of $117.68 million. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. During the same period last year, the company earned $0.27 earnings per share. On average, research analysts anticipate that Black Stone Minerals will post 1.32 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BSM. Larson Financial Group LLC acquired a new stake in shares of Black Stone Minerals during the third quarter worth $54,000. Summit Securities Group LLC acquired a new stake in Black Stone Minerals during the 2nd quarter worth about $74,000. Financial Advocates Investment Management bought a new position in shares of Black Stone Minerals in the 2nd quarter worth about $159,000. Choreo LLC acquired a new position in shares of Black Stone Minerals in the 2nd quarter valued at about $205,000. Finally, BCS Wealth Management boosted its position in shares of Black Stone Minerals by 15.1% during the 3rd quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock valued at $213,000 after purchasing an additional 1,852 shares in the last quarter. 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.