Black Stone Minerals, L.P. (NYSE:BSM – Get Free Report) saw a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 2,190,000 shares, a decline of 6.4% from the December 15th total of 2,340,000 shares. Based on an average daily trading volume, of 516,200 shares, the days-to-cover ratio is presently 4.2 days. Currently, 1.3% of the shares of the company are short sold.
Institutional Investors Weigh In On Black Stone Minerals
Institutional investors and hedge funds have recently modified their holdings of the company. Horizon Kinetics Asset Management LLC grew its holdings in Black Stone Minerals by 65.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 275,638 shares of the oil and gas producer’s stock valued at $4,162,000 after purchasing an additional 109,500 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Black Stone Minerals in the 3rd quarter valued at about $8,240,000. Magnolia Capital Advisors LLC purchased a new position in Black Stone Minerals during the 2nd quarter valued at about $2,480,000. ING Groep NV raised its position in Black Stone Minerals by 5.9% during the third quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer’s stock worth $9,859,000 after acquiring an additional 36,300 shares during the last quarter. Finally, Fiducient Advisors LLC purchased a new stake in shares of Black Stone Minerals in the third quarter valued at about $12,253,000. Institutional investors and hedge funds own 14.49% of the company’s stock.
Analyst Ratings Changes
Several analysts have recently commented on the stock. Piper Sandler reduced 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. StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Monday, December 16th.
Black Stone Minerals Stock Performance
Black Stone Minerals stock traded up $0.09 during midday trading on Monday, reaching $15.60. The company’s stock had a trading volume of 347,190 shares, compared to its average volume of 632,591. Black Stone Minerals has a fifty-two week low of $13.78 and a fifty-two week high of $16.92. The firm has a market capitalization of $3.29 billion, a PE ratio of 9.63 and a beta of 0.96. The stock’s 50 day simple moving average is $14.83 and its 200 day simple moving average is $14.93.
Black Stone Minerals (NYSE:BSM – Get Free Report) last released its quarterly earnings data 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 net margin of 67.54% and a return on equity of 41.49%. The firm had revenue of $134.86 million for the quarter, compared to the consensus estimate of $117.68 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. Equities analysts predict that Black Stone Minerals will post 1.36 earnings per share for the current year.
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.
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