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 report released on Thursday.

Separately, Piper Sandler dropped their target price on 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 Stock Down 0.8 %

NYSE BSM opened at $15.22 on Thursday. The business’s 50-day moving average price is $14.98 and its 200 day moving average price is $15.30. The firm has a market cap of $3.21 billion, a P/E ratio of 9.40 and a beta of 0.94. Black Stone Minerals has a 52-week low of $13.94 and a 52-week high of $17.80.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. The firm 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 period last year, the company earned $0.27 earnings per share. As a group, analysts anticipate that Black Stone Minerals will post 1.32 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued 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 yield of 9.86%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 92.59%.

Insider Transactions at Black Stone Minerals

In other news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was acquired at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the purchase, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. This represents a 3.30 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Carrie Pearson Clark sold 18,532 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $14.84, for a total transaction of $275,014.88. Following the completion of the sale, the senior vice president now directly owns 116,923 shares in the company, valued at approximately $1,735,137.32. The trade was a 13.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.60% of the company’s stock.

Institutional Trading of Black Stone Minerals

Several large investors have recently modified their holdings of BSM. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Black Stone Minerals during the 1st quarter worth approximately $2,560,000. Magnolia Capital Advisors LLC acquired a new position in shares of Black Stone Minerals in the second quarter worth $2,480,000. International Assets Investment Management LLC acquired a new stake in shares of Black Stone Minerals during the third quarter valued at $8,240,000. Fiducient Advisors LLC acquired a new stake in shares of Black Stone Minerals during the third quarter valued at $12,253,000. Finally, ING Groep NV increased its position in Black Stone Minerals by 5.9% during 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 in the last quarter. 14.49% of the stock is currently owned by institutional investors and hedge funds.

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.