Black Stone Minerals, L.P. (NYSE:BSM) Receives Average Rating of “Hold” from Analysts

Black Stone Minerals, L.P. (NYSE:BSM) has received a consensus rating of “Hold” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating. The average 1 year price target among brokerages that have covered the stock in the last year is $13.00.

Several brokerages have weighed in on BSM. Weiss Ratings reissued a “hold (c-)” rating on shares of Black Stone Minerals in a report on Wednesday, October 8th. KeyCorp reaffirmed a “sector weight” rating on shares of Black Stone Minerals in a research report on Tuesday. Piper Sandler lowered their target price on shares of Black Stone Minerals from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, August 14th. Finally, Zacks Research upgraded shares of Black Stone Minerals from a “strong sell” rating to a “hold” rating in a research note on Monday, October 13th.

Insider Transactions at Black Stone Minerals

In other news, CEO Thomas L. Carter, Jr. purchased 27,500 shares of the stock in a transaction on Friday, August 8th. The stock was bought at an average price of $12.20 per share, with a total value of $335,500.00. Following the transaction, the chief executive officer owned 3,396,831 shares in the company, valued at $41,441,338.20. The trade was a 0.82% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders acquired 163,080 shares of company stock valued at $1,983,910. Company insiders own 17.80% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. SVB Wealth LLC purchased a new stake in Black Stone Minerals in the first quarter valued at approximately $25,000. PNC Financial Services Group Inc. acquired a new stake in Black Stone Minerals during the 1st quarter valued at approximately $29,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of Black Stone Minerals by 71.7% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,981 shares of the oil and gas producer’s stock valued at $39,000 after acquiring an additional 1,245 shares during the last quarter. Motco acquired a new stake in shares of Black Stone Minerals in the second quarter worth $46,000. Finally, Tower Research Capital LLC TRC raised its holdings in shares of Black Stone Minerals by 7,822.8% during the second quarter. Tower Research Capital LLC TRC now owns 7,289 shares of the oil and gas producer’s stock worth $95,000 after purchasing an additional 7,197 shares during the last quarter. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Black Stone Minerals Stock Down 0.6%

NYSE:BSM opened at $13.11 on Tuesday. Black Stone Minerals has a fifty-two week low of $11.78 and a fifty-two week high of $15.66. The company’s 50-day simple moving average is $12.78 and its 200-day simple moving average is $13.07. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.22 and a current ratio of 3.22. The stock has a market capitalization of $2.78 billion, a P/E ratio of 11.30 and a beta of 0.24.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.12. The business had revenue of $132.47 million for the quarter, compared to analyst estimates of $106.20 million. Black Stone Minerals had a net margin of 61.21% and a return on equity of 39.67%. On average, equities analysts anticipate that Black Stone Minerals will post 1.36 earnings per share for the current fiscal year.

Black Stone Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Investors of record on Thursday, November 6th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 9.2%. The ex-dividend date of this dividend is Thursday, November 6th. Black Stone Minerals’s dividend payout ratio is presently 103.45%.

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.