Black Stone Minerals (NYSE:BSM) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Black Stone Minerals (NYSE:BSM) from a hold rating to a buy rating in a research report report published 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 Price Performance

Shares of NYSE BSM opened at $14.18 on Monday. The stock has a market cap of $2.99 billion, a PE ratio of 8.79 and a beta of 0.96. Black Stone Minerals has a 1 year low of $13.94 and a 1 year high of $16.92. The firm has a fifty day moving average price of $15.06 and a 200-day moving average price of $15.15.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The business had revenue of $134.86 million during the quarter, compared to analyst estimates 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 business posted $0.27 EPS. On average, research analysts expect that Black Stone Minerals will post 1.32 EPS for the current year.

Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 10.58%. The ex-dividend date was Friday, November 8th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 92.59%.

Institutional Investors Weigh In On Black Stone Minerals

Several large investors have recently made changes to their positions in BSM. Larson Financial Group LLC purchased a new position in Black Stone Minerals during the 3rd quarter valued at approximately $54,000. Summit Securities Group LLC purchased a new stake in shares of Black Stone Minerals during the 2nd quarter worth approximately $74,000. Financial Advocates Investment Management bought a new position in shares of Black Stone Minerals during the 2nd quarter valued at approximately $159,000. Choreo LLC purchased a new position in shares of Black Stone Minerals in the second quarter valued at $205,000. Finally, BCS Wealth Management increased its position in Black Stone Minerals by 15.1% in the third quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock worth $213,000 after purchasing an additional 1,852 shares during the last quarter. 14.49% of the stock is owned by institutional investors.

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.