Black Stone Minerals, L.P. (NYSE:BSM) Sees Significant Decline in Short Interest

Black Stone Minerals, L.P. (NYSE:BSM) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totalling 2,190,000 shares, a decrease of 6.4% from the December 15th total of 2,340,000 shares. Currently, 1.3% of the company’s stock are short sold. Based on an average trading volume of 516,200 shares, the days-to-cover ratio is currently 4.2 days.

Black Stone Minerals Trading Up 0.5 %

Black Stone Minerals stock traded up $0.09 during trading on Friday, hitting $15.60. 347,190 shares of the company were exchanged, compared to its average volume of 632,591. The company has a market capitalization of $3.29 billion, a P/E ratio of 9.63 and a beta of 0.96. The business’s 50 day moving average is $14.83 and its 200 day moving average is $14.93. Black Stone Minerals has a 52 week low of $13.78 and a 52 week high of $16.92.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share (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 firm had revenue of $134.86 million during the quarter, compared to analyst estimates of $117.68 million. During the same quarter in the prior year, the business posted $0.27 EPS. Equities analysts expect that Black Stone Minerals will post 1.36 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on BSM shares. StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Monday, December 16th. Piper Sandler reduced their price objective on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, November 18th.

Hedge Funds Weigh In On Black Stone Minerals

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Penn Davis Mcfarland Inc. grew its position in Black Stone Minerals by 18.1% during the fourth quarter. Penn Davis Mcfarland Inc. now owns 1,601,182 shares of the oil and gas producer’s stock valued at $23,377,000 after buying an additional 245,009 shares during the period. Fiducient Advisors LLC purchased a new stake in shares of Black Stone Minerals during the 3rd quarter worth approximately $12,253,000. ING Groep NV raised its holdings in shares of Black Stone Minerals by 5.9% in the 3rd quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer’s stock worth $9,859,000 after purchasing an additional 36,300 shares during the period. Citigroup Inc. lifted its stake in Black Stone Minerals by 2.3% in the third quarter. Citigroup Inc. now owns 470,915 shares of the oil and gas producer’s stock valued at $7,111,000 after purchasing an additional 10,465 shares during the last quarter. Finally, HighTower Advisors LLC grew its holdings in Black Stone Minerals by 1.7% during the third quarter. HighTower Advisors LLC now owns 404,828 shares of the oil and gas producer’s stock valued at $6,113,000 after purchasing an additional 6,898 shares during the period. 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.