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

Black Stone Minerals (NYSE:BSM) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

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

Black Stone Minerals Stock Down 0.8 %

NYSE:BSM opened at $15.21 on Thursday. Black Stone Minerals has a 52 week low of $13.94 and a 52 week high of $17.80. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 9.40 and a beta of 0.94. The company’s 50 day moving average price is $14.95 and its 200-day moving average price is $15.31.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. The business had revenue of $134.86 million for the quarter, compared to analysts’ expectations of $117.68 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. During the same quarter in the prior year, the business earned $0.27 EPS. As a group, sell-side analysts anticipate that Black Stone Minerals will post 1.32 earnings per share for the current year.

Insider Activity

In related news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of Black Stone Minerals 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 transaction, the chief executive officer now directly owns 3,133,128 shares in the company, valued at approximately $44,239,767.36. This represents a 3.30 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Carrie Pearson Clark sold 18,532 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $14.84, for a total transaction of $275,014.88. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders own 18.60% of the company’s stock.

Institutional Trading of Black Stone Minerals

Hedge funds have recently bought and sold shares of the stock. Fiducient Advisors LLC bought a new stake in shares of Black Stone Minerals in the third quarter worth about $12,253,000. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Black Stone Minerals during the 1st quarter worth approximately $2,560,000. Magnolia Capital Advisors LLC bought a new position in shares of Black Stone Minerals during the 2nd quarter valued at approximately $2,480,000. Horizon Kinetics Asset Management LLC grew its holdings in shares of Black Stone Minerals by 65.9% in the third 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 purchasing an additional 109,500 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new stake in Black Stone Minerals in the third quarter worth $8,240,000. 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.