Black Stone Minerals (NYSE:BSM) Cut to Hold at StockNews.com

StockNews.com lowered shares of Black Stone Minerals (NYSE:BSM) from a buy rating to a hold rating in a report issued on Tuesday.

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

Black Stone Minerals Price Performance

Black Stone Minerals stock opened at $15.14 on Tuesday. The stock has a market capitalization of $3.19 billion, a PE ratio of 9.34 and a beta of 0.94. Black Stone Minerals has a 12 month low of $13.78 and a 12 month high of $16.92. The business has a 50 day simple moving average of $14.88 and a 200-day simple moving average of $14.89.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, February 24th. The oil and gas producer reported $0.18 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.21). The firm had revenue of $83.73 million for the quarter, compared to analysts’ expectations of $115.46 million. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. On average, equities research analysts anticipate that Black Stone Minerals will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 18th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 9.91%. The ex-dividend date of this dividend was Tuesday, February 18th. Black Stone Minerals’s payout ratio is 130.43%.

Hedge Funds Weigh In On Black Stone Minerals

Several hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp raised its position in Black Stone Minerals by 100.0% in the 4th quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 1,000 shares in the last quarter. Larson Financial Group LLC acquired a new stake in Black Stone Minerals in the 3rd quarter valued at about $54,000. JPMorgan Chase & Co. acquired a new stake in Black Stone Minerals in the 3rd quarter valued at about $76,000. State of Wyoming purchased a new position in shares of Black Stone Minerals in the 4th quarter valued at about $107,000. Finally, Virtus ETF Advisers LLC increased its holdings in shares of Black Stone Minerals by 14.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 11,838 shares of the oil and gas producer’s stock valued at $173,000 after acquiring an additional 1,463 shares during the last quarter. Institutional investors and hedge funds 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.