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

Black Stone Minerals (NYSE:BSM) had its price target lowered by research analysts at Piper Sandler from $15.00 to $14.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s price target indicates a potential downside of 8.08% from the stock’s previous close.

Separately, StockNews.com upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Thursday.

Black Stone Minerals Stock Up 0.1 %

BSM stock traded up $0.01 during mid-day trading on Monday, reaching $15.23. 114,679 shares of the stock traded hands, compared to its average volume of 443,755. The firm has a market capitalization of $3.21 billion, a PE ratio of 9.40 and a beta of 0.94. The business has a 50-day moving average of $14.98 and a two-hundred day moving average of $15.29. 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 announced its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. The firm had revenue of $134.86 million during the quarter, compared to the consensus estimate 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 quarter in the prior year, the company earned $0.27 EPS. On average, equities research analysts anticipate that Black Stone Minerals will post 1.32 EPS for the current fiscal year.

Insider Activity at Black Stone Minerals

In related news, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $14.84, for a total transaction of $275,014.88. Following the completion of the transaction, the senior vice president now directly owns 116,923 shares of the company’s stock, valued at $1,735,137.32. This trade represents a 13.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $14.12 per share, for a total transaction of $1,412,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at approximately $44,239,767.36. The trade was a 3.30 % increase in their position. The disclosure for this purchase can be found here. 18.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Black Stone Minerals

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