Black Stone Minerals (NYSE:BSM) Downgraded by StockNews.com to “Hold”

Black Stone Minerals (NYSE:BSM) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.

Separately, Piper Sandler reduced their target price on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday.

Black Stone Minerals Trading Up 1.5 %

Shares of NYSE BSM opened at $15.37 on Friday. Black Stone Minerals has a 12 month low of $13.94 and a 12 month high of $17.80. The firm has a market capitalization of $3.24 billion, a PE ratio of 9.49 and a beta of 0.94. The firm has a fifty day simple moving average of $15.02 and a two-hundred day simple moving average of $15.27.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, topping 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 analyst estimates of $117.68 million. During the same period in the prior year, the business earned $0.27 EPS. On average, sell-side analysts predict that Black Stone Minerals will post 1.32 earnings per share for the current year.

Insider Transactions at Black Stone Minerals

In related news, SVP Carrie Pearson Clark sold 18,532 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $14.84, for a total transaction of $275,014.88. Following the sale, the senior vice president now directly owns 116,923 shares of the company’s stock, valued at approximately $1,735,137.32. This represents a 13.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $14.12 per share, for a total transaction of $1,412,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,133,128 shares in the company, valued at $44,239,767.36. The trade was a 3.30 % increase in their position. The disclosure for this purchase can be found here. Insiders own 18.60% of the company’s stock.

Institutional Trading of Black Stone Minerals

Several institutional investors have recently bought and sold shares of the company. EP Wealth Advisors LLC purchased a new stake in Black Stone Minerals during the 3rd quarter valued at about $417,000. Stifel Financial Corp boosted its holdings in shares of Black Stone Minerals by 9.6% during the 3rd quarter. Stifel Financial Corp now owns 173,775 shares of the oil and gas producer’s stock valued at $2,624,000 after acquiring an additional 15,236 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Black Stone Minerals by 1.7% during the 3rd quarter. HighTower Advisors LLC now owns 404,828 shares of the oil and gas producer’s stock valued at $6,113,000 after acquiring an additional 6,898 shares during the last quarter. Hilltop Holdings Inc. boosted its holdings in shares of Black Stone Minerals by 47.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 19,300 shares of the oil and gas producer’s stock valued at $291,000 after acquiring an additional 6,200 shares during the last quarter. Finally, Cadence Bank boosted its holdings in shares of Black Stone Minerals by 2.6% during the 3rd quarter. Cadence Bank now owns 27,650 shares of the oil and gas producer’s stock valued at $418,000 after acquiring an additional 689 shares during the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.

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.