Black Stone Minerals (NYSE:BSM) Raised 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.

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

Black Stone Minerals Stock Down 0.2 %

Shares of BSM stock traded down $0.03 during mid-day trading on Thursday, reaching $15.31. The stock had a trading volume of 155,239 shares, compared to its average volume of 444,346. Black Stone Minerals has a one year low of $13.94 and a one year high of $17.80. The firm has a market cap of $3.45 billion, a PE ratio of 9.47 and a beta of 0.94. The firm’s 50 day simple moving average is $14.93 and its 200 day simple moving average is $15.31.

Black Stone Minerals (NYSE:BSM) last issued 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 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 last year, the business earned $0.27 earnings per share. Sell-side analysts forecast that Black Stone Minerals will post 1.32 earnings per share for the current fiscal year.

Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.50 annualized dividend and a yield of 9.80%. Black Stone Minerals’s dividend payout ratio is currently 92.59%.

Insider Activity

In other news, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $14.84, for a total value of $275,014.88. Following the completion of the transaction, the senior vice president now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $14.12 per share, for a total transaction of $1,412,000.00. Following the completion of the transaction, the chief executive officer now owns 3,133,128 shares in the company, valued at $44,239,767.36. The trade was a 3.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 18.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Black Stone Minerals

Several hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC lifted its position in Black Stone Minerals by 1.7% during the 3rd quarter. HighTower Advisors LLC now owns 404,828 shares of the oil and gas producer’s stock valued at $6,113,000 after purchasing an additional 6,898 shares during the period. Hilltop Holdings Inc. raised its stake in shares of Black Stone Minerals by 47.3% during the third quarter. Hilltop Holdings Inc. now owns 19,300 shares of the oil and gas producer’s stock worth $291,000 after buying an additional 6,200 shares during the last quarter. Cadence Bank lifted its holdings in Black Stone Minerals by 2.6% in the third quarter. Cadence Bank now owns 27,650 shares of the oil and gas producer’s stock valued at $418,000 after buying an additional 689 shares during the period. Horizon Kinetics Asset Management LLC boosted its stake in Black Stone Minerals by 65.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 275,638 shares of the oil and gas producer’s stock valued at $4,162,000 after acquiring an additional 109,500 shares during the last quarter. Finally, Larson Financial Group LLC acquired a new stake in Black Stone Minerals during the 3rd quarter worth $54,000. Institutional investors 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.