Black Stone Minerals (NYSE:BSM - Get Free Report) was downgraded by investment analysts at StockNews.com from a "buy" rating to a "hold" rating in a note issued to investors on Sunday.
Separately, Piper Sandler decreased 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, November 18th.
Read Our Latest Research Report on BSM
Black Stone Minerals Price Performance
Black Stone Minerals stock traded down $0.40 during mid-day trading on Friday, reaching $14.68. 717,603 shares of the stock traded hands, compared to its average volume of 448,396. The stock has a market capitalization of $3.09 billion, a PE ratio of 9.06 and a beta of 0.96. The business's 50-day moving average is $15.12 and its 200-day moving average is $15.20. Black Stone Minerals has a 12-month low of $13.94 and a 12-month high of $16.92.
Black Stone Minerals (NYSE:BSM - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. The firm had revenue of $134.86 million during the quarter, compared to analyst estimates of $117.68 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. During the same quarter in the prior year, the firm earned $0.27 EPS. Equities analysts anticipate that Black Stone Minerals will post 1.32 EPS for the current fiscal year.
Hedge Funds Weigh In On Black Stone Minerals
Several large investors have recently made changes to their positions in BSM. Redhawk Wealth Advisors Inc. purchased a new position in shares of Black Stone Minerals in the second quarter worth $228,000. Summit Securities Group LLC purchased a new stake in Black Stone Minerals in the 2nd quarter worth $74,000. Financial Advocates Investment Management bought a new position in shares of Black Stone Minerals during the 2nd quarter valued at about $159,000. Commonwealth Equity Services LLC grew its position in shares of Black Stone Minerals by 21.8% during the second quarter. Commonwealth Equity Services LLC now owns 33,915 shares of the oil and gas producer's stock valued at $531,000 after purchasing an additional 6,069 shares in the last quarter. Finally, GraniteShares Advisors LLC increased its holdings in shares of Black Stone Minerals by 14.2% in the second quarter. GraniteShares Advisors LLC now owns 121,795 shares of the oil and gas producer's stock worth $1,909,000 after purchasing an additional 15,188 shares during the last quarter. 14.49% of the stock is currently owned by hedge funds and other institutional investors.
Black Stone Minerals Company Profile
(
Get Free Report)
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.
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