Black Stone Minerals (NYSE:BSM) Price Target Raised to $14.00

Black Stone Minerals (NYSE:BSM) had its target price boosted by Piper Sandler from $13.00 to $14.00 in a research report report published on Thursday morning,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

A number of other research firms have also recently commented on BSM. Zacks Research cut shares of Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Black Stone Minerals in a research report on Monday, December 29th. Five analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $14.00.

Black Stone Minerals Stock Down 1.4%

Shares of BSM opened at $15.22 on Thursday. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.19. The business has a fifty day moving average of $14.56 and a 200 day moving average of $13.68. The company has a market cap of $3.23 billion, a PE ratio of 11.89 and a beta of 0.17. Black Stone Minerals has a 52-week low of $11.78 and a 52-week high of $15.52.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. Black Stone Minerals had a net margin of 62.26% and a return on equity of 43.31%. The business had revenue of $118.70 million for the quarter, compared to analysts’ expectations of $98.08 million. On average, sell-side analysts expect that Black Stone Minerals will post 1.36 EPS for the current year.

Black Stone Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 18th were paid a $0.30 dividend. The ex-dividend date was Wednesday, February 18th. This represents a $1.20 dividend on an annualized basis and a yield of 7.9%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 93.75%.

Insider Buying and Selling at Black Stone Minerals

In other news, SVP Luke Stevens Putman sold 30,276 shares of Black Stone Minerals stock in a transaction on Thursday, March 5th. The stock was sold at an average price of $15.25, for a total transaction of $461,709.00. Following the completion of the sale, the senior vice president directly owned 761,417 shares in the company, valued at approximately $11,611,609.25. This trade represents a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 17.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its holdings in Black Stone Minerals by 57.1% during the 4th quarter. Morgan Stanley now owns 7,107,673 shares of the oil and gas producer’s stock valued at $94,461,000 after buying an additional 2,582,823 shares in the last quarter. Bank of America Corp DE grew its stake in Black Stone Minerals by 2.2% in the 3rd quarter. Bank of America Corp DE now owns 2,600,182 shares of the oil and gas producer’s stock worth $34,166,000 after acquiring an additional 56,368 shares in the last quarter. Penn Davis Mcfarland Inc. increased its position in shares of Black Stone Minerals by 2.5% during the fourth quarter. Penn Davis Mcfarland Inc. now owns 1,967,467 shares of the oil and gas producer’s stock worth $26,148,000 after acquiring an additional 48,677 shares during the period. Investment Management Associates Inc. ADV increased its position in shares of Black Stone Minerals by 22.6% during the third quarter. Investment Management Associates Inc. ADV now owns 1,934,739 shares of the oil and gas producer’s stock worth $25,422,000 after acquiring an additional 356,852 shares during the period. Finally, Northwestern University bought a new stake in shares of Black Stone Minerals during the fourth quarter valued at approximately $15,671,000. Hedge funds and other institutional investors own 14.49% of the company’s stock.

About Black Stone Minerals

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.