Piper Sandler Increases Black Stone Minerals (NYSE:BSM) Price Target to $16.00

Black Stone Minerals (NYSE:BSM) had its target price upped by research analysts at Piper Sandler from $14.00 to $16.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s price target suggests a potential upside of 9.54% from the company’s current price.

Separately, StockNews.com cut shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Black Stone Minerals Stock Performance

BSM stock opened at $14.61 on Thursday. The stock’s 50 day moving average price is $14.92 and its 200 day moving average price is $14.89. The firm has a market cap of $3.08 billion, a P/E ratio of 9.02 and a beta of 0.94. Black Stone Minerals has a 1 year low of $13.78 and a 1 year high of $16.92.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.21). The company had revenue of $83.73 million during the quarter, compared to analysts’ expectations of $115.46 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. On average, research analysts predict that Black Stone Minerals will post 1.36 earnings per share for the current year.

Institutional Investors Weigh In On Black Stone Minerals

Several hedge funds have recently made changes to their positions in the business. Jones Financial Companies Lllp increased its stake in Black Stone Minerals by 100.0% in the fourth quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 1,000 shares during the last quarter. Larson Financial Group LLC acquired a new position in shares of Black Stone Minerals during the 3rd quarter valued at about $54,000. JPMorgan Chase & Co. purchased a new position in shares of Black Stone Minerals during the 3rd quarter worth about $76,000. State of Wyoming acquired a new stake in shares of Black Stone Minerals in the fourth quarter worth approximately $107,000. Finally, Virtus ETF Advisers LLC grew its holdings in Black Stone Minerals by 14.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 11,838 shares of the oil and gas producer’s stock valued at $173,000 after purchasing an additional 1,463 shares during the period. Institutional investors and hedge funds own 14.49% of the company’s stock.

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.