Black Stone Minerals (NYSE:BSM) Upgraded at StockNews.com

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

Separately, Piper Sandler decreased their price objective on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, November 18th.

Black Stone Minerals Price Performance

NYSE BSM opened at $13.93 on Monday. The company’s fifty day moving average is $14.99 and its two-hundred day moving average is $15.12. The firm has a market capitalization of $2.93 billion, a price-to-earnings ratio of 8.60 and a beta of 0.96. Black Stone Minerals has a 52-week low of $13.78 and a 52-week high of $16.92.

Black Stone Minerals (NYSE:BSM) last issued its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The business had revenue of $134.86 million for the quarter, compared to analyst estimates of $117.68 million. During the same period in the previous year, the business earned $0.27 EPS. As a group, sell-side analysts expect that Black Stone Minerals will post 1.32 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 10.77%. The ex-dividend date of this dividend was Friday, November 8th. Black Stone Minerals’s payout ratio is 92.59%.

Institutional Investors Weigh In On Black Stone Minerals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Summit Securities Group LLC acquired a new position in Black Stone Minerals during the second quarter worth $74,000. Financial Advocates Investment Management acquired a new stake in Black Stone Minerals in the 2nd quarter valued at about $159,000. Commonwealth Equity Services LLC raised its stake in Black Stone Minerals by 21.8% in the second quarter. Commonwealth Equity Services LLC now owns 33,915 shares of the oil and gas producer’s stock valued at $531,000 after buying an additional 6,069 shares during the period. GraniteShares Advisors LLC boosted its stake in shares of Black Stone Minerals by 14.2% during the 2nd quarter. GraniteShares Advisors LLC now owns 121,795 shares of the oil and gas producer’s stock worth $1,909,000 after acquiring an additional 15,188 shares during the period. Finally, Choreo LLC acquired a new stake in Black Stone Minerals during the 2nd quarter valued at $205,000. 14.49% of the stock is 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.