Piper Sandler Cuts Black Stone Minerals (NYSE:BSM) Price Target to $14.00

Black Stone Minerals (NYSE:BSM) had its target price lowered by investment analysts at Piper Sandler from $15.00 to $14.00 in a report issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s price target suggests a potential downside of 8.08% 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.

Black Stone Minerals Stock Performance

Shares of NYSE:BSM traded up $0.01 during midday trading on Monday, reaching $15.23. The company had a trading volume of 114,679 shares, compared to its average volume of 443,755. The company has a fifty day simple moving average of $14.98 and a two-hundred day simple moving average of $15.29. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 9.40 and a beta of 0.94. Black Stone Minerals has a 1-year low of $13.94 and a 1-year high of $17.80.

Black Stone Minerals (NYSE:BSM) last released its earnings results 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 for the quarter, compared to the consensus estimate of $117.68 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. During the same period last year, the firm posted $0.27 earnings per share. Analysts expect that Black Stone Minerals will post 1.32 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Thomas L. Carter, Jr. bought 100,000 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $14.12 per share, for a total transaction of $1,412,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. This trade represents a 3.30 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Carrie Pearson Clark sold 18,532 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $14.84, for a total value of $275,014.88. Following the sale, the senior vice president now directly owns 116,923 shares of the company’s stock, valued at $1,735,137.32. This trade represents a 13.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.60% of the company’s stock.

Institutional Trading of Black Stone Minerals

A number of institutional investors have recently added to or reduced their stakes in the business. EP Wealth Advisors LLC bought a new position in shares of Black Stone Minerals during the 3rd quarter valued at $417,000. Stifel Financial Corp raised its holdings in Black Stone Minerals by 9.6% during the third quarter. Stifel Financial Corp now owns 173,775 shares of the oil and gas producer’s stock valued at $2,624,000 after buying an additional 15,236 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Black Stone Minerals by 1.7% in the third quarter. HighTower Advisors LLC now owns 404,828 shares of the oil and gas producer’s stock worth $6,113,000 after buying an additional 6,898 shares during the last quarter. Hilltop Holdings Inc. boosted its stake in shares of Black Stone Minerals by 47.3% during the 3rd quarter. Hilltop Holdings Inc. now owns 19,300 shares of the oil and gas producer’s stock worth $291,000 after acquiring an additional 6,200 shares in the last quarter. Finally, Cadence Bank increased its holdings in shares of Black Stone Minerals by 2.6% during the 3rd quarter. Cadence Bank now owns 27,650 shares of the oil and gas producer’s stock valued at $418,000 after acquiring an additional 689 shares during the last quarter. 14.49% of the stock is currently owned by institutional investors and hedge funds.

About Black Stone Minerals

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.