Black Stone Minerals (NYSE:BSM) Stock Rating Upgraded by StockNews.com

Black Stone Minerals (NYSE:BSM - Get Free Report) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Thursday.

Separately, Piper Sandler dropped their target price on Black Stone Minerals from $17.00 to $15.00 and set a "neutral" rating on the stock in a research report on Thursday, August 15th.

Black Stone Minerals Price Performance

BSM stock traded up $0.19 during trading on Thursday, hitting $15.34. 430,494 shares of the company traded hands, compared to its average volume of 445,651. Black Stone Minerals has a 1 year low of $13.94 and a 1 year high of $17.80. The company has a market cap of $3.46 billion, a PE ratio of 9.43 and a beta of 0.94. The stock's 50-day simple moving average is $14.93 and its 200 day simple moving average is $15.31.

Black Stone Minerals (NYSE:BSM - Get Free Report) last posted its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $117.68 million. During the same period in the previous year, the firm earned $0.27 EPS. Research analysts expect that Black Stone Minerals will post 1.32 earnings per share for the current year.

Insider Buying and Selling at Black Stone Minerals

In related news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the company's stock in a transaction dated Friday, September 6th. The stock was acquired at an average cost 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 of the company's stock, valued at approximately $44,239,767.36. This trade represents a 3.30 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Black Stone Minerals news, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $14.84, for a total transaction of $275,014.88. Following the transaction, the senior vice president now directly owns 116,923 shares of the company's stock, valued at $1,735,137.32. The trade was a 13.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas L. Carter, Jr. bought 100,000 shares of the firm's stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $14.12 per share, for a total transaction of $1,412,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,133,128 shares in the company, valued at $44,239,767.36. The trade was a 3.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 18.60% of the stock is owned by insiders.

Institutional Trading of Black Stone Minerals

Several institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC acquired a new stake in Black Stone Minerals during the third quarter worth $54,000. Summit Securities Group LLC purchased a new stake in Black Stone Minerals in the 2nd quarter valued at about $74,000. SG Americas Securities LLC purchased a new stake in Black Stone Minerals in the 1st quarter valued at about $102,000. Financial Advocates Investment Management acquired a new position in Black Stone Minerals in the second quarter valued at about $159,000. Finally, Choreo LLC purchased a new position in Black Stone Minerals during the second quarter worth about $205,000. Hedge funds and other institutional investors own 14.49% of the company's stock.

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.