Black Stone Minerals (NYSE:BSM) Upgraded at StockNews.com

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

Separately, Piper Sandler reduced their price objective on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, November 18th.

Black Stone Minerals Stock Up 0.6 %

BSM opened at $15.49 on Friday. The firm has a market cap of $3.26 billion, a PE ratio of 9.56 and a beta of 0.94. The business has a fifty day simple moving average of $15.09 and a 200-day simple moving average of $15.24. Black Stone Minerals has a fifty-two week low of $13.94 and a fifty-two week high of $17.80.

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 for the quarter, topping the consensus estimate of $0.35 by $0.06. The business had revenue of $134.86 million during the quarter, compared to analyst estimates 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 last year, the company posted $0.27 EPS. On average, equities research analysts anticipate that Black Stone Minerals will post 1.32 EPS for the current fiscal year.

Insider Activity

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. bought 100,000 shares of Black Stone Minerals stock in a transaction dated Friday, September 6th. The stock was bought 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 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 18.60% of the company’s stock.

Institutional Trading of Black Stone Minerals

Hedge funds and other institutional investors have recently modified their holdings of the company. Larson Financial Group LLC purchased a new stake in shares of Black Stone Minerals during the third quarter worth $54,000. Summit Securities Group LLC purchased a new stake in shares of Black Stone Minerals during the second quarter worth $74,000. Financial Advocates Investment Management purchased a new stake in shares of Black Stone Minerals during the second quarter worth $159,000. Choreo LLC purchased a new stake in shares of Black Stone Minerals during the second quarter worth $205,000. Finally, BCS Wealth Management raised its holdings 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. 14.49% of the stock is currently 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.