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

StockNews.com downgraded shares of Black Stone Minerals (NYSE:BSM - Free Report) from a buy rating to a hold rating in a report issued on Tuesday.

Separately, Piper Sandler cut their price objective on shares of Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating on the stock in a research report on Monday, November 18th.

Black Stone Minerals Stock Performance

NYSE:BSM traded down $0.20 on Tuesday, reaching $14.97. The company's stock had a trading volume of 813,662 shares, compared to its average volume of 444,200. Black Stone Minerals has a 1-year low of $13.78 and a 1-year high of $16.92. The business's 50-day moving average price is $14.90 and its two-hundred day moving average price is $14.89. The firm has a market cap of $3.15 billion, a PE ratio of 9.24 and a beta of 0.94.

Black Stone Minerals (NYSE:BSM - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $83.73 million during the quarter, compared to analyst estimates of $115.46 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. As a group, sell-side analysts expect that Black Stone Minerals will post 1.36 EPS for the current year.

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Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 18th were issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 10.02%. The ex-dividend date of this dividend was Tuesday, February 18th. Black Stone Minerals's payout ratio is 130.43%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Cadence Bank lifted its stake in Black Stone Minerals by 2.6% in the third 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 during the last quarter. Annandale Capital LLC raised its holdings in shares of Black Stone Minerals by 5.5% in the 4th quarter. Annandale Capital LLC now owns 14,382 shares of the oil and gas producer's stock valued at $210,000 after purchasing an additional 747 shares during the period. Vident Advisory LLC lifted its stake in Black Stone Minerals by 2.7% in the 4th quarter. Vident Advisory LLC now owns 31,738 shares of the oil and gas producer's stock valued at $463,000 after purchasing an additional 846 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Black Stone Minerals by 100.0% during the fourth quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer's stock worth $29,000 after purchasing an additional 1,000 shares during the period. Finally, Virtus ETF Advisers LLC increased its position in Black Stone Minerals by 14.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 11,838 shares of the oil and gas producer's stock worth $173,000 after buying an additional 1,463 shares during the last quarter. Institutional investors and hedge funds own 14.49% of the company's stock.

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.