Piper Sandler Issues Pessimistic Forecast for Black Stone Minerals (NYSE:BSM) Stock Price

Black Stone Minerals (NYSE:BSM) had its target price reduced by Piper Sandler from $15.00 to $14.00 in a research report released on Monday,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Separately, StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th.

Black Stone Minerals Stock Down 0.4 %

Shares of BSM stock opened at $15.16 on Monday. The company’s 50 day moving average is $14.98 and its 200 day moving average is $15.29. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 9.39 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 data on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The firm had revenue of $134.86 million during the quarter, compared to analysts’ expectations 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 in the prior year, the business posted $0.27 EPS. Analysts anticipate that Black Stone Minerals will post 1.32 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 9.89%. The ex-dividend date was Friday, November 8th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 92.59%.

Insider Buying and Selling at Black Stone Minerals

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $14.12 per share, for a total transaction of $1,412,000.00. Following the purchase, the chief executive officer now owns 3,133,128 shares in the company, valued at approximately $44,239,767.36. The trade was a 3.30 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Carrie Pearson Clark sold 18,532 shares of the 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 completion of 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 disclosure for this sale can be found here. 18.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Black Stone Minerals

Institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC acquired a new position in Black Stone Minerals in the third quarter valued at approximately $54,000. Summit Securities Group LLC purchased a new position in Black Stone Minerals in the second quarter valued at $74,000. SG Americas Securities LLC acquired a new position in shares of Black Stone Minerals in the first quarter worth about $102,000. Financial Advocates Investment Management acquired a new position in Black Stone Minerals in the 2nd quarter worth about $159,000. Finally, Choreo LLC purchased a new position in Black Stone Minerals during the second quarter worth approximately $205,000. 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.