Black Stone Minerals (NYSE:BSM) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Black Stone Minerals (NYSE:BSM) from a hold rating to a buy rating in a report published on Thursday.

Separately, Piper Sandler dropped their target price on Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th.

Black Stone Minerals Stock Down 0.2 %

Shares of Black Stone Minerals stock traded down $0.03 during trading on Thursday, hitting $15.31. The stock had a trading volume of 155,239 shares, compared to its average volume of 444,346. Black Stone Minerals has a 1 year low of $13.94 and a 1 year high of $17.80. The stock has a 50 day simple moving average of $14.93 and a 200 day simple moving average of $15.31. The company has a market capitalization of $3.45 billion, a PE ratio of 9.47 and a beta of 0.94.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. The company had revenue of $134.86 million during the quarter, compared to analyst estimates of $117.68 million. During the same quarter in the prior year, the company earned $0.27 earnings per share. As a group, equities analysts expect that Black Stone Minerals will post 1.32 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be paid a $0.375 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a yield of 9.80%. Black Stone Minerals’s dividend payout ratio (DPR) is currently 92.59%.

Insider Transactions at Black Stone Minerals

In other Black Stone Minerals 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 cost of $14.12 per share, with a total value of $1,412,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. This represents a 3.30 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Carrie Pearson Clark sold 18,532 shares of the business’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 completion of the sale, the senior vice president now directly owns 116,923 shares of the company’s stock, valued at $1,735,137.32. This represents a 13.68 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 18.60% of the company’s stock.

Hedge Funds Weigh In On Black Stone Minerals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BSM. SG Americas Securities LLC acquired a new position in Black Stone Minerals in the 1st quarter valued at $102,000. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Black Stone Minerals during the 1st quarter worth about $2,560,000. MAS Advisors LLC lifted its position in shares of Black Stone Minerals by 56.7% during the 1st quarter. MAS Advisors LLC now owns 27,673 shares of the oil and gas producer’s stock worth $442,000 after purchasing an additional 10,014 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc grew its holdings in Black Stone Minerals by 200.0% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 60,000 shares of the oil and gas producer’s stock valued at $959,000 after buying an additional 40,000 shares during the last quarter. Finally, Cadence Bank increased its position in Black Stone Minerals by 3.1% in the 1st quarter. Cadence Bank now owns 26,350 shares of the oil and gas producer’s stock worth $421,000 after buying an additional 784 shares during the period. Institutional investors and hedge funds own 14.49% of the company’s stock.

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.