Black Stone Minerals (NYSE:BSM) Downgraded by StockNews.com to Hold

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

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

Black Stone Minerals Price Performance

BSM opened at $14.99 on Wednesday. The company has a market capitalization of $3.38 billion, a PE ratio of 9.25 and a beta of 0.94. The business has a fifty day simple moving average of $14.91 and a 200 day simple moving average of $15.33. 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 posted its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, topping 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 analysts’ expectations of $117.68 million. During the same quarter in the previous year, the firm earned $0.27 EPS. Equities analysts anticipate that Black Stone Minerals will post 1.27 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 10.01%. The ex-dividend date of this dividend is Friday, November 8th. Black Stone Minerals’s dividend payout ratio (DPR) is currently 92.59%.

Insider Activity at Black Stone Minerals

In related news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the business’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the purchase, the chief executive officer now directly owns 3,133,128 shares in the company, valued at approximately $44,239,767.36. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average cost of $14.12 per share, for a total transaction of $1,412,000.00. Following the acquisition, 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 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director D Mark Dewalch purchased 34,200 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $14.62 per share, with a total value of $500,004.00. Following the completion of the acquisition, the director now directly owns 357,005 shares in the company, valued at $5,219,413.10. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 18.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Summit Securities Group LLC bought a new position in Black Stone Minerals in the 2nd quarter worth $74,000. SG Americas Securities LLC bought a new position in Black Stone Minerals in the 1st quarter worth $102,000. Financial Advocates Investment Management bought a new position in Black Stone Minerals in the 2nd quarter worth $159,000. Hilltop National Bank purchased a new stake in shares of Black Stone Minerals in the 1st quarter worth about $177,000. Finally, Choreo LLC purchased a new stake in shares of Black Stone Minerals in the 2nd quarter worth about $205,000. 14.49% of the stock is currently owned by institutional investors.

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.