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 research report sent to investors on Thursday morning.

Separately, Piper Sandler reduced their price target on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th.

Black Stone Minerals Price Performance

Shares of NYSE:BSM opened at $15.22 on Thursday. The company has a market capitalization of $3.21 billion, a P/E ratio of 9.40 and a beta of 0.94. The business’s 50 day simple moving average is $14.98 and its 200 day simple moving average is $15.29. Black Stone Minerals has a 1 year low of $13.94 and a 1 year high of $17.80.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. The business had revenue of $134.86 million during the quarter, compared to the consensus estimate 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 firm earned $0.27 earnings per share. On average, sell-side analysts anticipate that Black Stone Minerals will post 1.32 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The business 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 of this dividend was Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.86%. Black Stone Minerals’s payout ratio is currently 92.59%.

Insider Activity at Black Stone Minerals

In related news, SVP Carrie Pearson Clark sold 18,532 shares of the business’s stock in a transaction on 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 owns 116,923 shares in the company, valued at $1,735,137.32. The trade was a 13.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Thomas L. Carter, Jr. bought 100,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at approximately $44,239,767.36. The trade was a 3.30 % increase in their position. The disclosure for this purchase can be found here. 18.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Black Stone Minerals

Institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC bought a new position in shares of Black Stone Minerals during the third quarter valued at $54,000. Summit Securities Group LLC acquired a new position in Black Stone Minerals during the 2nd quarter worth about $74,000. SG Americas Securities LLC bought a new stake in shares of Black Stone Minerals in the 1st quarter valued at about $102,000. Financial Advocates Investment Management acquired a new stake in shares of Black Stone Minerals in the second quarter valued at about $159,000. Finally, Choreo LLC bought a new position in shares of Black Stone Minerals during the second quarter worth about $205,000. 14.49% of the stock is owned by 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.