Black Stone Minerals (NYSE:BSM) Rating Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Black Stone Minerals (NYSE:BSM) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

Separately, Piper Sandler lowered their target price on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, November 18th.

Black Stone Minerals Price Performance

BSM opened at $15.16 on Tuesday. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 9.35 and a beta of 0.94. The firm has a 50 day simple moving average of $14.81 and a 200 day simple moving average of $14.88. Black Stone Minerals has a fifty-two week low of $13.78 and a fifty-two week high of $16.92.

Black Stone Minerals (NYSE:BSM) last posted 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 the consensus estimate of $115.46 million. As a group, analysts expect that Black Stone Minerals will post 1.36 EPS for the current year.

Black Stone Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 18th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.90%. The ex-dividend date was Tuesday, February 18th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 92.59%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Jones Financial Companies Lllp lifted its stake in shares of Black Stone Minerals by 100.0% during the 4th quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 1,000 shares during the last quarter. Larson Financial Group LLC acquired a new stake in shares of Black Stone Minerals during the 3rd quarter worth about $54,000. JPMorgan Chase & Co. acquired a new stake in Black Stone Minerals in the 3rd quarter worth about $76,000. State of Wyoming acquired a new stake in Black Stone Minerals in the 4th quarter worth about $107,000. Finally, Virtus ETF Advisers LLC raised its stake in Black Stone Minerals by 14.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 11,838 shares of the oil and gas producer’s stock worth $173,000 after purchasing an additional 1,463 shares in the last quarter. Institutional investors 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.