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

StockNews.com upgraded shares of Black Stone Minerals (NYSE:BSM) from a hold rating to a buy rating in a report published on Saturday.

Separately, Piper Sandler cut their price objective 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 Stock Performance

Shares of BSM opened at $15.52 on Friday. The stock has a 50 day moving average price of $15.09 and a 200 day moving average price of $15.23. Black Stone Minerals has a one year low of $13.94 and a one year high of $17.80. The stock has a market capitalization of $3.27 billion, a price-to-earnings ratio of 9.58 and a beta of 0.94.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings data 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 for the quarter, compared to analyst estimates 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 previous year, the company posted $0.27 earnings per share. On average, analysts predict that Black Stone Minerals will post 1.32 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 9.66%. The ex-dividend date was Friday, November 8th. Black Stone Minerals’s payout ratio is presently 92.59%.

Insider Buying and Selling

In other news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost of $14.12 per share, with a total value of $1,412,000.00. Following the transaction, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 18.60% of the company’s stock.

Institutional Trading of Black Stone Minerals

Institutional investors have recently bought and sold shares of the business. Tidal Investments LLC raised its position in shares of Black Stone Minerals by 8.4% during the 1st quarter. Tidal Investments LLC now owns 90,566 shares of the oil and gas producer’s stock worth $1,447,000 after acquiring an additional 7,006 shares in the last quarter. Redhawk Wealth Advisors Inc. purchased a new stake in shares of Black Stone Minerals during the 2nd quarter worth approximately $228,000. 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 purchased a new position in shares of Black Stone Minerals in the 2nd quarter valued at $159,000. Finally, Commonwealth Equity Services LLC raised its stake in Black Stone Minerals by 21.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 33,915 shares of the oil and gas producer’s stock worth $531,000 after acquiring an additional 6,069 shares in the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.

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.