Piper Sandler Issues Pessimistic Forecast for Black Stone Minerals (NYSE:BSM) Stock Price

Black Stone Minerals (NYSE:BSM) had its target price lowered by equities research analysts at Piper Sandler from $15.00 to $14.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s price objective would indicate a potential downside of 6.91% from the company’s current price.

Separately, StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th.

Black Stone Minerals Trading Down 0.9 %

BSM stock opened at $15.04 on Monday. The stock has a market capitalization of $3.17 billion, a PE ratio of 9.25 and a beta of 0.94. Black Stone Minerals has a 12-month low of $13.94 and a 12-month high of $17.80. The stock’s 50 day simple moving average is $15.00 and its 200 day simple moving average is $15.28.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings data 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 return on equity of 41.49% and a net margin of 67.54%. During the same period in the prior year, the firm posted $0.27 EPS. On average, research 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 other news, CEO Thomas L. Carter, Jr. bought 100,000 shares of Black Stone Minerals stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $14.12 per share, with a total value of $1,412,000.00. Following the acquisition, the chief executive officer now owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. The trade was a 3.30 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction that occurred on 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 in the company, valued at $1,735,137.32. This represents a 13.68 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.60% of the company’s stock.

Institutional Trading of Black Stone Minerals

A number of hedge funds and other institutional investors have recently modified their holdings of BSM. Fiducient Advisors LLC purchased a new position in Black Stone Minerals during the third quarter valued at $12,253,000. Magnolia Capital Advisors LLC purchased a new position in Black Stone Minerals during the second quarter valued at $2,480,000. Horizon Kinetics Asset Management LLC grew its stake in Black Stone Minerals by 65.9% during 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 acquiring an additional 109,500 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Black Stone Minerals during the third quarter valued at $8,240,000. Finally, Prevail Innovative Wealth Advisors LLC grew its stake in Black Stone Minerals by 25.7% during the second quarter. Prevail Innovative Wealth Advisors LLC now owns 201,336 shares of the oil and gas producer’s stock valued at $3,155,000 after acquiring an additional 41,136 shares in the last quarter. 14.49% of the stock is owned by hedge funds and other 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.