StockNews.com Downgrades Black Stone Minerals (NYSE:BSM) to Hold

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

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

Black Stone Minerals Trading Up 1.4 %

NYSE BSM opened at $15.56 on Friday. The company has a 50-day moving average price of $15.05 and a two-hundred day moving average price of $15.27. Black Stone Minerals has a 52 week low of $13.94 and a 52 week high of $17.80. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 9.60 and a beta of 0.94.

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

Insider Buying and Selling at Black Stone Minerals

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $14.12 per share, for a total transaction of $1,412,000.00. Following the purchase, the chief executive officer now owns 3,133,128 shares in the company, valued at approximately $44,239,767.36. The trade was a 3.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction dated Monday, August 26th. The stock was 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 $1,735,137.32. The trade was a 13.68 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.60% of the company’s stock.

Hedge Funds Weigh In On Black Stone Minerals

Hedge funds have recently added to or reduced their stakes in the stock. Fiducient Advisors LLC acquired a new stake in shares of Black Stone Minerals in the 3rd quarter valued at $12,253,000. Magnolia Capital Advisors LLC bought a new stake in Black Stone Minerals in the second quarter valued at $2,480,000. Horizon Kinetics Asset Management LLC increased its position in Black Stone Minerals by 65.9% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 275,638 shares of the oil and gas producer’s stock valued at $4,162,000 after buying an additional 109,500 shares in the last quarter. International Assets Investment Management LLC acquired a new position in Black Stone Minerals during the third quarter worth $8,240,000. Finally, Prevail Innovative Wealth Advisors LLC lifted its position in Black Stone Minerals by 25.7% in the 2nd quarter. Prevail Innovative Wealth Advisors LLC now owns 201,336 shares of the oil and gas producer’s stock valued at $3,155,000 after acquiring an additional 41,136 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.