Black Stone Minerals (NYSE:BSM) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Black Stone Minerals (NYSE:BSM) from a buy rating to a hold rating in a report released on Sunday.

Separately, Piper Sandler cut their target price on 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 Price Performance

Shares of BSM stock opened at $14.68 on Friday. Black Stone Minerals has a one year low of $13.94 and a one year high of $16.92. The stock has a fifty day moving average price of $15.12 and a 200 day moving average price of $15.20. The stock has a market cap of $3.09 billion, a P/E ratio of 9.06 and a beta of 0.96.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $134.86 million during the quarter, compared to the consensus estimate of $117.68 million. During the same period last year, the firm earned $0.27 EPS. Equities research analysts anticipate that Black Stone Minerals will post 1.32 EPS for the current year.

Black Stone Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 10.22%. The ex-dividend date of this dividend was Friday, November 8th. Black Stone Minerals’s payout ratio is currently 92.59%.

Institutional Trading of Black Stone Minerals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Larson Financial Group LLC bought a new stake in Black Stone Minerals during the 3rd quarter worth about $54,000. Summit Securities Group LLC acquired a new position in shares of Black Stone Minerals in the 2nd quarter valued at $74,000. Financial Advocates Investment Management bought a new stake in shares of Black Stone Minerals during the second quarter worth $159,000. Choreo LLC acquired a new stake in shares of Black Stone Minerals during the second quarter worth $205,000. Finally, BCS Wealth Management raised its stake in shares of Black Stone Minerals by 15.1% in 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 during the period. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Black Stone Minerals Company Profile

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.