Black Stone Minerals (NYSE:BSM) Upgraded to “Buy” at StockNews.com

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

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, November 18th.

Black Stone Minerals Stock Down 2.5 %

NYSE:BSM opened at $14.18 on Monday. The firm’s fifty day simple moving average is $15.06 and its 200 day simple moving average is $15.15. The stock has a market cap of $2.99 billion, a P/E ratio of 8.79 and a beta of 0.96. Black Stone Minerals has a twelve month low of $13.94 and a twelve month high of $16.92.

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 last year, the business posted $0.27 earnings per share. On average, analysts expect that Black Stone Minerals will post 1.32 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.375 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.58%. Black Stone Minerals’s dividend payout ratio (DPR) is currently 92.59%.

Institutional Trading of Black Stone Minerals

A number of hedge funds have recently bought and sold shares of BSM. Larson Financial Group LLC purchased a new stake in Black Stone Minerals during the third quarter valued at approximately $54,000. Summit Securities Group LLC bought a new stake in shares of Black Stone Minerals during the 2nd quarter valued at $74,000. Financial Advocates Investment Management purchased a new stake in shares of Black Stone Minerals in the 2nd quarter worth $159,000. Choreo LLC bought a new position in Black Stone Minerals in the 2nd quarter worth $205,000. Finally, BCS Wealth Management lifted its position in Black Stone Minerals by 15.1% during the third 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 in the last quarter. Hedge funds and other institutional investors own 14.49% of the company’s stock.

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.