Black Stone Minerals (NYSE:BSM) Price Target Lowered to $15.00 at Piper Sandler

Black Stone Minerals (NYSE:BSM - Free Report) had its price objective trimmed by Piper Sandler from $16.00 to $15.00 in a report released on Tuesday morning, MarketBeat reports. The firm currently has a neutral rating on the oil and gas producer's stock.

BSM has been the subject of a number of other reports. StockNews.com cut Black Stone Minerals from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Royal Bank of Canada raised shares of Black Stone Minerals to a "hold" rating in a research note on Friday, March 14th.

Black Stone Minerals Stock Down 0.0 %

Shares of NYSE:BSM traded down $0.00 during trading on Tuesday, hitting $14.41. 38,646 shares of the stock traded hands, compared to its average volume of 448,167. The company has a fifty day moving average price of $14.72 and a two-hundred day moving average price of $14.85. Black Stone Minerals has a 52-week low of $12.80 and a 52-week high of $16.92. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 8.89 and a beta of 0.52.

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

Black Stone Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.41%. Black Stone Minerals's payout ratio is currently 130.43%.

Institutional Trading of Black Stone Minerals

Several large investors have recently made changes to their positions in BSM. Jones Financial Companies Lllp lifted its holdings in Black Stone Minerals by 100.0% in the 4th quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer's stock valued at $29,000 after purchasing an additional 1,000 shares in the last quarter. NBC Securities Inc. lifted its stake in shares of Black Stone Minerals by 202,400.0% in the first quarter. NBC Securities Inc. now owns 2,025 shares of the oil and gas producer's stock worth $30,000 after buying an additional 2,024 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in Black Stone Minerals during the third quarter worth about $76,000. State of Wyoming purchased a new stake in Black Stone Minerals during the 4th quarter valued at about $107,000. Finally, Exchange Traded Concepts LLC raised its holdings in Black Stone Minerals by 1,258.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 7,623 shares of the oil and gas producer's stock valued at $116,000 after acquiring an additional 7,062 shares during the last quarter. 14.49% of the stock is currently owned by hedge funds and other 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.