Black Stone Minerals (NYSE:BSM) Price Target Lowered to $14.00 at Piper Sandler

Black Stone Minerals (NYSE:BSM) had its price target cut by Piper Sandler from $15.00 to $14.00 in a research report released on Monday morning,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Separately, StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Thursday, November 14th.

Black Stone Minerals Price Performance

Shares of BSM opened at $15.37 on Monday. The firm has a 50 day simple moving average of $15.02 and a two-hundred day simple moving average of $15.27. The company has a market cap of $3.24 billion, a P/E ratio of 9.35 and a beta of 0.94. Black Stone Minerals has a one year low of $13.94 and a one year high of $17.80.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $117.68 million. During the same quarter in the prior year, the firm posted $0.27 earnings per share. On average, analysts expect that Black Stone Minerals will post 1.32 earnings per share for the current fiscal year.

Black Stone Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a dividend of $0.375 per share. The ex-dividend date was Friday, November 8th. This represents a $1.50 annualized dividend and a dividend yield of 9.76%. Black Stone Minerals’s payout ratio is 92.59%.

Insiders Place Their Bets

In other news, SVP Carrie Pearson Clark sold 18,532 shares of the stock in a transaction dated 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 sale, the senior vice president now directly owns 116,923 shares in the company, valued at $1,735,137.32. This represents a 13.68 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $14.12 per share, with a total value of $1,412,000.00. Following the acquisition, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. This trade represents a 3.30 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 18.60% of the company’s stock.

Institutional Trading of Black Stone Minerals

Several hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new position in Black Stone Minerals in the 3rd quarter valued at $54,000. Summit Securities Group LLC acquired a new stake in Black Stone Minerals in the second quarter valued at approximately $74,000. SG Americas Securities LLC acquired a new stake in Black Stone Minerals in the first quarter valued at approximately $102,000. Financial Advocates Investment Management acquired a new stake in shares of Black Stone Minerals during the second quarter worth approximately $159,000. Finally, Choreo LLC acquired a new stake in shares of Black Stone Minerals during the second quarter worth approximately $205,000. Institutional investors and hedge funds 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.