Piper Sandler Issues Pessimistic Forecast for Black Stone Minerals (NYSE:BSM) Stock Price

Black Stone Minerals (NYSE:BSM) had its target price reduced by Piper Sandler from $14.00 to $13.00 in a research report released on Thursday,Benzinga reports. They currently have a neutral rating on the oil and gas producer’s stock.

Separately, Wall Street Zen downgraded Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Thursday, May 15th.

Black Stone Minerals Stock Performance

BSM stock opened at $12.45 on Thursday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.22 and a quick ratio of 3.22. The business has a 50-day moving average price of $12.91 and a 200 day moving average price of $13.93. The company has a market capitalization of $2.63 billion, a P/E ratio of 10.74 and a beta of 0.28. Black Stone Minerals has a 1-year low of $11.96 and a 1-year high of $15.66.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings data on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.23. The firm had revenue of $159.49 million during the quarter, compared to the consensus estimate of $112.19 million. Black Stone Minerals had a return on equity of 39.67% and a net margin of 61.21%. As a group, equities research analysts forecast that Black Stone Minerals will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 9.6%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 103.45%.

Insider Activity

In related news, CEO Thomas L. Carter, Jr. bought 27,500 shares of the business’s stock in a transaction on Friday, August 8th. The shares were bought at an average price of $12.20 per share, for a total transaction of $335,500.00. Following the completion of the purchase, the chief executive officer directly owned 3,396,831 shares of the company’s stock, valued at approximately $41,441,338.20. This trade represents a 0.82% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carrie Pearson Clark sold 36,900 shares of Black Stone Minerals stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $13.56, for a total value of $500,364.00. Following the completion of the transaction, the senior vice president owned 165,857 shares in the company, valued at $2,249,020.92. This trade represents a 18.20% decrease in their position. The disclosure for this sale can be found here. Insiders acquired 95,910 shares of company stock worth $1,189,002 in the last quarter. 17.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Black Stone Minerals

Several institutional investors and hedge funds have recently added to or reduced their stakes in BSM. Northern Trust Corp purchased a new stake in Black Stone Minerals in the fourth quarter valued at about $4,428,000. Penn Davis Mcfarland Inc. raised its stake in Black Stone Minerals by 16.3% in the first quarter. Penn Davis Mcfarland Inc. now owns 1,861,741 shares of the oil and gas producer’s stock valued at $28,429,000 after buying an additional 260,559 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in Black Stone Minerals in the fourth quarter valued at about $411,000. Alpha Wealth Funds LLC purchased a new stake in Black Stone Minerals in the fourth quarter valued at about $359,000. Finally, Krane Funds Advisors LLC purchased a new stake in Black Stone Minerals in the first quarter valued at about $446,000. Hedge funds and other institutional investors 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.