Black Stone Minerals (NYSE:BSM) Price Target Raised to $16.00 at Piper Sandler

Black Stone Minerals (NYSE:BSM) had its price objective upped by research analysts at Piper Sandler from $14.00 to $16.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s price objective indicates a potential upside of 9.54% from the stock’s previous close.

Separately, StockNews.com lowered Black Stone Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Black Stone Minerals Stock Up 0.6 %

BSM opened at $14.61 on Thursday. The firm’s fifty day simple moving average is $14.92 and its two-hundred day simple moving average is $14.89. Black Stone Minerals has a 52-week low of $13.78 and a 52-week high of $16.92. The company has a market cap of $3.08 billion, a price-to-earnings ratio of 9.02 and a beta of 0.94.

Black Stone Minerals (NYSE:BSM) last issued 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 net margin of 67.54% and a return on equity of 41.49%. The company had revenue of $83.73 million during the quarter, compared to analysts’ expectations of $115.46 million. On average, research analysts forecast that Black Stone Minerals will post 1.36 EPS for the current year.

Institutional Trading of Black Stone Minerals

Hedge funds have recently made changes to their positions in the business. Cresset Asset Management LLC boosted its holdings in Black Stone Minerals by 500.5% in the fourth quarter. Cresset Asset Management LLC now owns 596,853 shares of the oil and gas producer’s stock valued at $8,714,000 after purchasing an additional 497,457 shares in the last quarter. Investment Management Associates Inc. ADV boosted its holdings in Black Stone Minerals by 30.8% in the 4th quarter. Investment Management Associates Inc. ADV now owns 1,544,182 shares of the oil and gas producer’s stock valued at $22,545,000 after purchasing an additional 363,962 shares in the last quarter. Aptus Capital Advisors LLC acquired a new position in Black Stone Minerals during the fourth quarter worth $4,876,000. Northern Trust Corp acquired a new position in shares of Black Stone Minerals during the 4th quarter worth $4,428,000. Finally, Raymond James Financial Inc. purchased a new position in Black Stone Minerals in the fourth quarter valued at about $4,211,000. 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.