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

StockNews.com upgraded shares of Black Stone Minerals (NYSE:BSM - Free Report) from a hold rating to a buy rating in a research report report published on Monday.

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

Black Stone Minerals Price Performance

Shares of NYSE:BSM traded down $0.36 during midday trading on Monday, reaching $14.18. 1,188,355 shares of the company's stock were exchanged, compared to its average volume of 453,916. The firm's 50 day simple moving average is $15.06 and its two-hundred day simple moving average is $15.15. Black Stone Minerals has a fifty-two week low of $13.94 and a fifty-two week high of $16.92. The stock has a market cap of $2.99 billion, a price-to-earnings ratio of 8.79 and a beta of 0.96.

Black Stone Minerals (NYSE:BSM - Get Free Report) last announced its 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 return on equity of 41.49% and a net margin of 67.54%. The firm had revenue of $134.86 million during the quarter, compared to analysts' expectations of $117.68 million. During the same period in the prior year, the firm earned $0.27 EPS. Equities research analysts predict that Black Stone Minerals will post 1.32 earnings per share for the current fiscal year.

Black Stone Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a $0.375 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a yield of 10.58%. Black Stone Minerals's payout ratio is currently 92.59%.

Institutional Trading of Black Stone Minerals

A number of institutional investors have recently modified their holdings of the company. Fiducient Advisors LLC bought a new stake in shares of Black Stone Minerals during the 3rd quarter valued at approximately $12,253,000. ING Groep NV lifted 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 valued at $9,859,000 after buying an additional 36,300 shares in the last quarter. Citigroup Inc. lifted its position in shares of Black Stone Minerals by 2.3% during the 3rd quarter. Citigroup Inc. now owns 470,915 shares of the oil and gas producer's stock worth $7,111,000 after buying an additional 10,465 shares in the last quarter. HighTower Advisors LLC lifted its stake in Black Stone Minerals by 1.7% in the third 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 last quarter. Finally, Horizon Kinetics Asset Management LLC raised its holdings in Black Stone Minerals by 65.9% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 275,638 shares of the oil and gas producer's stock valued at $4,162,000 after acquiring an additional 109,500 shares during the period. 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.