Black Stone Minerals (NYSE:BSM) Price Target Raised to $16.00 at Piper Sandler

Black Stone Minerals (NYSE:BSM) had its target price boosted by Piper Sandler from $14.00 to $16.00 in a research note issued to investors on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the oil and gas producer’s stock.

Separately, StockNews.com cut shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Black Stone Minerals Price Performance

Shares of BSM opened at $14.67 on Thursday. The firm has a fifty day moving average price of $14.93 and a 200 day moving average price of $14.89. The stock has a market cap of $3.09 billion, a PE ratio of 9.05 and a beta of 0.94. Black Stone Minerals has a 1-year low of $13.78 and a 1-year high of $16.92.

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

Black Stone Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 18th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 10.23%. The ex-dividend date of this dividend was Tuesday, February 18th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 130.43%.

Institutional Trading of Black Stone Minerals

A number of hedge funds have recently added to or reduced their stakes in the stock. Cresset Asset Management LLC raised its stake in shares of Black Stone Minerals by 500.5% during the fourth quarter. Cresset Asset Management LLC now owns 596,853 shares of the oil and gas producer’s stock worth $8,714,000 after purchasing an additional 497,457 shares during the last quarter. Investment Management Associates Inc. ADV increased its stake in Black Stone Minerals by 30.8% in the 4th quarter. Investment Management Associates Inc. ADV now owns 1,544,182 shares of the oil and gas producer’s stock valued at $22,545,000 after buying an additional 363,962 shares during the period. Aptus Capital Advisors LLC purchased a new position in Black Stone Minerals during the 4th quarter worth $4,876,000. Northern Trust Corp purchased a new position in Black Stone Minerals during the 4th quarter worth $4,428,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Black Stone Minerals in the 4th quarter worth $4,211,000. 14.49% of the stock is 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.