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

Black Stone Minerals (NYSE:BSM) had its price target reduced by equities researchers at Piper Sandler from $14.00 to $13.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s price objective suggests a potential upside of 5.86% from the company’s current price.

Separately, Wall Street Zen cut shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th.

Black Stone Minerals Trading Down 1.4%

NYSE BSM opened at $12.28 on Thursday. Black Stone Minerals has a 1-year low of $11.96 and a 1-year high of $15.66. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $2.60 billion, a PE ratio of 10.59 and a beta of 0.28. The firm’s fifty day simple moving average is $12.88 and its 200-day simple moving average is $13.91.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, August 4th. The oil and gas producer reported $0.53 EPS for the quarter, topping the consensus estimate of $0.30 by $0.23. The firm had revenue of $159.49 million for the quarter, compared to the consensus estimate of $112.19 million. Black Stone Minerals had a net margin of 61.21% and a return on equity of 39.67%. As a group, sell-side analysts anticipate that Black Stone Minerals will post 1.36 earnings per share for the current fiscal year.

Insider Transactions at Black Stone Minerals

In other Black Stone Minerals news, SVP Carrie Pearson Clark sold 36,900 shares of the firm’s stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $13.56, for a total transaction of $500,364.00. Following the completion of the transaction, the senior vice president owned 165,857 shares in the company, valued at $2,249,020.92. This trade represents a 18.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Thomas L. Carter, Jr. purchased 27,500 shares of the business’s stock in a transaction on Friday, August 8th. The shares were acquired at an average price of $12.20 per share, with a total value of $335,500.00. Following the purchase, the chief executive officer owned 3,396,831 shares of the company’s stock, valued at approximately $41,441,338.20. This trade represents a 0.82% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 95,910 shares of company stock valued at $1,189,002. Corporate insiders own 17.80% of the company’s stock.

Institutional Trading of Black Stone Minerals

Several hedge funds have recently modified their holdings of the company. Doliver Advisors LP increased its holdings in shares of Black Stone Minerals by 2.6% during the first quarter. Doliver Advisors LP now owns 31,734 shares of the oil and gas producer’s stock worth $485,000 after buying an additional 791 shares in the last quarter. Vident Advisory LLC increased its holdings in shares of Black Stone Minerals by 2.7% during the fourth quarter. Vident Advisory LLC now owns 31,738 shares of the oil and gas producer’s stock worth $463,000 after buying an additional 846 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of Black Stone Minerals by 1.4% during the second quarter. Moors & Cabot Inc. now owns 63,000 shares of the oil and gas producer’s stock worth $824,000 after buying an additional 900 shares in the last quarter. MAS Advisors LLC increased its holdings in shares of Black Stone Minerals by 4.1% during the second quarter. MAS Advisors LLC now owns 26,176 shares of the oil and gas producer’s stock worth $342,000 after buying an additional 1,041 shares in the last quarter. Finally, IHT Wealth Management LLC increased its holdings in shares of Black Stone Minerals by 5.1% during the second quarter. IHT Wealth Management LLC now owns 22,598 shares of the oil and gas producer’s stock worth $296,000 after buying an additional 1,104 shares in the last quarter. Institutional investors and hedge funds 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.