Piper Sandler Has Lowered Expectations for Black Stone Minerals (NYSE:BSM) Stock Price

Black Stone Minerals (NYSE:BSM - Get Free Report) had its target price cut by Piper Sandler from $15.00 to $14.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "neutral" rating on the oil and gas producer's stock. Piper Sandler's price objective points to a potential downside of 7.65% from the company's previous close.

Separately, StockNews.com raised Black Stone Minerals from a "hold" rating to a "buy" rating in a research note on Thursday.

Black Stone Minerals Stock Down 0.4 %

Shares of BSM stock traded down $0.06 during trading hours on Monday, reaching $15.16. The company's stock had a trading volume of 312,959 shares, compared to its average volume of 444,644. Black Stone Minerals has a fifty-two week low of $13.94 and a fifty-two week high of $17.80. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 9.39 and a beta of 0.94. The firm's 50 day simple moving average is $14.98 and its 200-day simple moving average is $15.29.

Black Stone Minerals (NYSE:BSM - Get Free Report) last issued its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. The firm had revenue of $134.86 million during the quarter, compared to the consensus estimate of $117.68 million. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Sell-side analysts predict 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. acquired 100,000 shares of the company's stock in a transaction dated Friday, September 6th. The shares were 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 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carrie Pearson Clark sold 18,532 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $14.84, for a total value of $275,014.88. Following the completion of the sale, the senior vice president now owns 116,923 shares of the company's stock, valued at approximately $1,735,137.32. This represents a 13.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.60% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cadence Bank lifted its holdings in shares of Black Stone Minerals by 2.6% in the 3rd quarter. Cadence Bank now owns 27,650 shares of the oil and gas producer's stock worth $418,000 after purchasing an additional 689 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its stake in shares of Black Stone Minerals by 10.1% in the third quarter. Redhawk Wealth Advisors Inc. now owns 16,005 shares of the oil and gas producer's stock valued at $242,000 after buying an additional 1,465 shares in the last quarter. MAS Advisors LLC grew its holdings in shares of Black Stone Minerals by 5.4% during the second quarter. MAS Advisors LLC now owns 29,179 shares of the oil and gas producer's stock valued at $457,000 after buying an additional 1,506 shares during the last quarter. BCS Wealth Management increased its position in shares of Black Stone Minerals by 15.1% during the third quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer's stock worth $213,000 after acquiring an additional 1,852 shares in the last quarter. Finally, Moors & Cabot Inc. raised its holdings in shares of Black Stone Minerals by 3.3% in the 3rd quarter. Moors & Cabot Inc. now owns 93,450 shares of the oil and gas producer's stock worth $1,411,000 after acquiring an additional 3,000 shares during the last quarter. 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.