Black Stone Minerals (NYSE:BSM) Lowered to Hold Rating by StockNews.com

Black Stone Minerals (NYSE:BSM - Get Free Report) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Friday.

Separately, Piper Sandler reduced their price objective on Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating on the stock in a research note on Monday.

Black Stone Minerals Stock Up 1.4 %

Shares of NYSE:BSM traded up $0.21 during trading on Friday, reaching $15.56. 550,499 shares of the company's stock traded hands, compared to its average volume of 445,107. Black Stone Minerals has a fifty-two week low of $13.94 and a fifty-two week high of $17.80. The firm has a market cap of $3.28 billion, a PE ratio of 9.49 and a beta of 0.94. The company has a 50-day simple moving average of $15.03 and a 200-day simple moving average of $15.27.

Black Stone Minerals (NYSE:BSM - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating 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 period in the prior year, the business earned $0.27 earnings per share. On average, equities research analysts forecast that Black Stone Minerals will post 1.32 EPS for the current year.

Insider Transactions at Black Stone Minerals

In other news, CEO Thomas L. Carter, Jr. bought 100,000 shares of the stock in a transaction 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 purchase, the chief executive officer now 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, SVP Carrie Pearson Clark sold 18,532 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $14.84, for a total transaction of $275,014.88. Following the sale, the senior vice president now directly owns 116,923 shares of the company's stock, valued at $1,735,137.32. This represents a 13.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.60% of the company's stock.

Institutional Trading of Black Stone Minerals

Several institutional investors have recently made changes to their positions in BSM. EP Wealth Advisors LLC acquired a new position in shares of Black Stone Minerals during the 3rd quarter valued at $417,000. Stifel Financial Corp lifted its holdings in shares of Black Stone Minerals by 9.6% during the 3rd quarter. Stifel Financial Corp now owns 173,775 shares of the oil and gas producer's stock valued at $2,624,000 after acquiring an additional 15,236 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Black Stone Minerals by 1.7% during the 3rd quarter. HighTower Advisors LLC now owns 404,828 shares of the oil and gas producer's stock valued at $6,113,000 after acquiring an additional 6,898 shares in the last quarter. Hilltop Holdings Inc. lifted its holdings in shares of Black Stone Minerals by 47.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 19,300 shares of the oil and gas producer's stock valued at $291,000 after acquiring an additional 6,200 shares in the last quarter. Finally, Cadence Bank lifted its holdings in shares of Black Stone Minerals by 2.6% during the 3rd quarter. Cadence Bank now owns 27,650 shares of the oil and gas producer's stock valued at $418,000 after acquiring an additional 689 shares in the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.

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.