Piper Sandler Cuts Black Stone Minerals (NYSE:BSM) Price Target to $15.00

Black Stone Minerals (NYSE:BSM) had its price objective lowered by Piper Sandler from $16.00 to $15.00 in a research report sent to investors on Tuesday morning, MarketBeat Ratings reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

Other analysts have also issued research reports about the stock. StockNews.com lowered shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Royal Bank of Canada upgraded shares of Black Stone Minerals to a “hold” rating in a report on Friday, March 14th.

Black Stone Minerals Stock Performance

NYSE:BSM opened at $14.40 on Tuesday. Black Stone Minerals has a 52 week low of $12.80 and a 52 week high of $16.92. The firm’s fifty day moving average is $14.72 and its 200-day moving average is $14.85. The firm has a market cap of $3.04 billion, a P/E ratio of 8.89 and a beta of 0.52.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.21). Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. The business had revenue of $83.73 million for the quarter, compared to analyst estimates of $115.46 million. As a group, sell-side analysts anticipate that Black Stone Minerals will post 1.36 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.50 annualized dividend and a yield of 10.42%. Black Stone Minerals’s payout ratio is 130.43%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Penn Davis Mcfarland Inc. lifted its position in Black Stone Minerals by 16.3% in the 1st quarter. Penn Davis Mcfarland Inc. now owns 1,861,741 shares of the oil and gas producer’s stock valued at $28,429,000 after acquiring an additional 260,559 shares in the last quarter. Investment Management Associates Inc. ADV boosted its position in shares of Black Stone Minerals by 30.8% during the fourth quarter. Investment Management Associates Inc. ADV now owns 1,544,182 shares of the oil and gas producer’s stock valued at $22,545,000 after buying an additional 363,962 shares during the last quarter. Cresset Asset Management LLC grew its holdings in Black Stone Minerals by 500.5% during the fourth quarter. Cresset Asset Management LLC now owns 596,853 shares of the oil and gas producer’s stock worth $8,714,000 after buying an additional 497,457 shares in the last quarter. Epacria Capital Partners LLC raised its position in Black Stone Minerals by 5.4% in the 4th quarter. Epacria Capital Partners LLC now owns 578,422 shares of the oil and gas producer’s stock valued at $8,445,000 after buying an additional 29,724 shares during the last quarter. Finally, Concorde Financial Corp lifted its stake in Black Stone Minerals by 0.5% during the 4th quarter. Concorde Financial Corp now owns 483,209 shares of the oil and gas producer’s stock valued at $7,055,000 after acquiring an additional 2,202 shares in the last quarter. 14.49% of the stock is currently owned by institutional investors and hedge funds.

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.