StockNews.com Upgrades Black Stone Minerals (NYSE:BSM) to “Buy”

Black Stone Minerals (NYSE:BSM) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Saturday.

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

Black Stone Minerals Price Performance

Shares of Black Stone Minerals stock opened at $15.52 on Friday. The stock has a market capitalization of $3.27 billion, a P/E ratio of 9.58 and a beta of 0.94. Black Stone Minerals has a one year low of $13.94 and a one year high of $17.80. The business’s 50 day simple moving average is $15.09 and its two-hundred day simple moving average is $15.23.

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

Insiders Place Their Bets

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. bought 100,000 shares of Black Stone Minerals 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 acquisition, the chief executive officer now owns 3,133,128 shares in the company, valued at approximately $44,239,767.36. This trade represents a 3.30 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 18.60% of the company’s stock.

Institutional Investors Weigh In On Black Stone Minerals

Large investors have recently bought and sold shares of the business. Cadence Bank grew its stake in shares of Black Stone Minerals by 2.6% in the third quarter. Cadence Bank now owns 27,650 shares of the oil and gas producer’s stock worth $418,000 after acquiring an additional 689 shares during the period. Redhawk Wealth Advisors Inc. grew its position in Black Stone Minerals by 10.1% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 16,005 shares of the oil and gas producer’s stock worth $242,000 after purchasing an additional 1,465 shares during the period. MAS Advisors LLC raised its stake in Black Stone Minerals by 5.4% during the 2nd quarter. MAS Advisors LLC now owns 29,179 shares of the oil and gas producer’s stock valued at $457,000 after buying an additional 1,506 shares during the last quarter. BCS Wealth Management lifted its holdings in shares of Black Stone Minerals by 15.1% during the 3rd quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock valued at $213,000 after buying an additional 1,852 shares during the period. Finally, Moors & Cabot Inc. boosted its stake in shares of Black Stone Minerals by 3.3% in the 3rd quarter. Moors & Cabot Inc. now owns 93,450 shares of the oil and gas producer’s stock worth $1,411,000 after buying an additional 3,000 shares during the last quarter. 14.49% of the stock is currently owned by institutional investors.

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.