Black Stone Minerals (NYSE:BSM) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Black Stone Minerals (NYSE:BSM - Free Report) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Separately, Piper Sandler decreased their target price on shares of Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, November 18th.

Black Stone Minerals Price Performance

Shares of Black Stone Minerals stock traded up $0.13 during trading on Friday, hitting $15.52. 144,642 shares of the company's stock traded hands, compared to its average volume of 443,924. Black Stone Minerals has a 1 year low of $13.94 and a 1 year high of $17.80. The business has a 50-day simple moving average of $15.09 and a 200-day simple moving average of $15.23. The stock has a market capitalization of $3.27 billion, a P/E ratio of 9.58 and a beta of 0.94.

Black Stone Minerals (NYSE:BSM - Get Free Report) last announced 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. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The firm had revenue of $134.86 million for the quarter, compared to the consensus estimate of $117.68 million. During the same quarter last year, the firm posted $0.27 EPS. On average, equities analysts predict that Black Stone Minerals will post 1.32 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.66%. The ex-dividend date was Friday, November 8th. Black Stone Minerals's payout ratio is 92.59%.

Insider Activity at Black Stone Minerals

In related news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of Black Stone Minerals stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $14.12 per share, for a total transaction of $1,412,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,133,128 shares in the company, valued at $44,239,767.36. This represents a 3.30 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 18.60% of the stock is currently owned by company insiders.

Institutional Trading of Black Stone Minerals

Several institutional investors and hedge funds have recently modified their holdings of the company. Fiducient Advisors LLC purchased a new stake in Black Stone Minerals in the 3rd quarter worth $12,253,000. ING Groep NV boosted its stake in shares of Black Stone Minerals by 5.9% in the third quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer's stock worth $9,859,000 after acquiring an additional 36,300 shares during the period. Citigroup Inc. grew its position in shares of Black Stone Minerals by 2.3% during the third quarter. Citigroup Inc. now owns 470,915 shares of the oil and gas producer's stock worth $7,111,000 after purchasing an additional 10,465 shares in the last quarter. HighTower Advisors LLC raised its stake in 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 purchasing an additional 6,898 shares during the period. Finally, Horizon Kinetics Asset Management LLC lifted its holdings in Black Stone Minerals by 65.9% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 275,638 shares of the oil and gas producer's stock worth $4,162,000 after purchasing an additional 109,500 shares in the last quarter. 14.49% of the stock is currently owned by 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.