Piper Sandler Cuts Black Stone Minerals (NYSE:BSM) Price Target to $14.00

Black Stone Minerals (NYSE:BSM) had its target price cut by Piper Sandler from $15.00 to $14.00 in a research report report published on Monday morning,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Separately, StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Thursday, November 14th.

Black Stone Minerals Stock Performance

NYSE BSM opened at $15.15 on Monday. The stock has a market capitalization of $3.19 billion, a PE ratio of 9.35 and a beta of 0.94. The stock has a 50-day simple moving average of $15.01 and a 200 day simple moving average of $15.27. Black Stone Minerals has a twelve month low of $13.94 and a twelve month high of $17.80.

Black Stone Minerals (NYSE:BSM) last posted its quarterly 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 analysts’ expectations 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 quarter in the prior year, the firm posted $0.27 EPS. As a group, equities research analysts forecast that Black Stone Minerals will post 1.32 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a $0.375 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a yield of 9.90%. Black Stone Minerals’s payout ratio is 92.59%.

Insider Activity at Black Stone Minerals

In other news, SVP Carrie Pearson Clark sold 18,532 shares of the firm’s 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 completion of the sale, the senior vice president now owns 116,923 shares in the company, valued at approximately $1,735,137.32. This trade represents a 13.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $14.12 per share, for a total transaction of $1,412,000.00. Following the transaction, the chief executive officer now directly owns 3,133,128 shares in the company, valued at approximately $44,239,767.36. This trade represents a 3.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 18.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Black Stone Minerals

Several hedge funds and other institutional investors have recently made changes to their positions in BSM. Larson Financial Group LLC acquired a new position in Black Stone Minerals during the third quarter worth about $54,000. Summit Securities Group LLC bought a new stake in shares of Black Stone Minerals in the 2nd quarter valued at $74,000. SG Americas Securities LLC acquired a new stake in Black Stone Minerals in the first quarter valued at approximately $102,000. Financial Advocates Investment Management bought a new stake in shares of Black Stone Minerals during the second quarter valued at approximately $159,000. Finally, Choreo LLC acquired a new position in shares of Black Stone Minerals during the second quarter worth approximately $205,000. 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.