Black Stone Minerals (NYSE:BSM) Stock Price Expected to Rise, Piper Sandler Analyst Says

Black Stone Minerals (NYSE:BSM - Get Free Report) had its target price increased by Piper Sandler from $14.00 to $16.00 in a report issued on Thursday, Marketbeat Ratings reports. The firm currently has a "neutral" rating on the oil and gas producer's stock. Piper Sandler's price objective suggests a potential upside of 9.70% from the company's previous close.

Separately, StockNews.com lowered Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th.

Black Stone Minerals Stock Performance

Shares of BSM traded down $0.17 during midday trading on Thursday, hitting $14.59. 531,571 shares of the company traded hands, compared to its average volume of 445,678. Black Stone Minerals has a 52 week low of $13.78 and a 52 week high of $16.92. The firm has a 50 day moving average of $14.94 and a 200-day moving average of $14.89. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 9.00 and a beta of 0.92.

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

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Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Jones Financial Companies Lllp lifted its holdings in shares of 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 worth $29,000 after buying an additional 1,000 shares during the period. Larson Financial Group LLC purchased a new stake in Black Stone Minerals in the third quarter worth about $54,000. JPMorgan Chase & Co. bought a new position in Black Stone Minerals during the 3rd quarter worth about $76,000. State of Wyoming purchased a new position in Black Stone Minerals during the 4th quarter valued at about $107,000. Finally, Virtus ETF Advisers LLC raised its holdings in shares of Black Stone Minerals by 14.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 11,838 shares of the oil and gas producer's stock valued at $173,000 after purchasing an additional 1,463 shares in the last quarter. 14.49% of the stock is currently 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.