StockNews.com Upgrades Black Stone Minerals (NYSE:BSM) to Buy

Black Stone Minerals (NYSE:BSM) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Separately, Piper Sandler lowered their price target on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, November 18th.

Black Stone Minerals Stock Performance

Shares of BSM opened at $14.10 on Monday. Black Stone Minerals has a fifty-two week low of $13.78 and a fifty-two week high of $16.92. The stock has a market cap of $2.97 billion, a PE ratio of 8.56 and a beta of 0.96. The firm’s 50-day simple moving average is $15.03 and its two-hundred day simple moving average is $15.14.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The business had revenue of $134.86 million during the quarter, compared to the consensus estimate of $117.68 million. During the same quarter in the previous year, the firm posted $0.27 EPS. Equities research analysts predict that Black Stone Minerals will post 1.32 EPS for the current year.

Institutional Investors Weigh In On Black Stone Minerals

Several hedge funds have recently modified their holdings of BSM. Larson Financial Group LLC acquired a new stake in Black Stone Minerals during the 3rd quarter worth $54,000. Summit Securities Group LLC purchased a new stake in shares of Black Stone Minerals in the second quarter valued at approximately $74,000. Financial Advocates Investment Management acquired a new stake in shares of Black Stone Minerals in the second quarter valued at approximately $159,000. Choreo LLC purchased a new position in Black Stone Minerals during the second quarter worth approximately $205,000. Finally, BCS Wealth Management grew 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 valued at $213,000 after buying an additional 1,852 shares in the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.

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.