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

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

Separately, Piper Sandler decreased their price target on 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 Performance

BSM opened at $13.93 on Monday. Black Stone Minerals has a fifty-two week low of $13.78 and a fifty-two week high of $16.92. The company has a market capitalization of $2.93 billion, a P/E ratio of 8.60 and a beta of 0.96. The stock has a fifty day moving average of $14.99 and a 200-day moving average of $15.12.

Black Stone Minerals (NYSE:BSM) last announced its earnings results 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. The company had revenue of $134.86 million for the quarter, compared to analysts’ expectations of $117.68 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. During the same period last year, the firm earned $0.27 earnings per share. On average, equities research analysts predict that Black Stone Minerals will post 1.32 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm 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 annualized dividend and a dividend yield of 10.77%. Black Stone Minerals’s payout ratio is 92.59%.

Institutional Trading of Black Stone Minerals

Several large investors have recently bought and sold shares of BSM. Larson Financial Group LLC bought a new position in shares of Black Stone Minerals in the third quarter worth about $54,000. Summit Securities Group LLC bought a new stake in shares of Black Stone Minerals during the second quarter worth $74,000. Financial Advocates Investment Management acquired a new position in shares of Black Stone Minerals during the second quarter worth $159,000. Choreo LLC acquired a new stake in shares of Black Stone Minerals during the 2nd quarter valued at $205,000. Finally, BCS Wealth Management increased its holdings in Black Stone Minerals by 15.1% in the 3rd quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock worth $213,000 after purchasing an additional 1,852 shares in the last quarter. 14.49% of the stock is owned by institutional investors and hedge funds.

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.