Short Interest in Black Stone Minerals, L.P. (NYSE:BSM) Declines By 6.4%

Black Stone Minerals, L.P. (NYSE:BSM) was the recipient of a significant drop in short interest in December. As of December 31st, there was short interest totalling 2,190,000 shares, a drop of 6.4% from the December 15th total of 2,340,000 shares. Approximately 1.3% of the shares of the company are short sold. Based on an average daily volume of 516,200 shares, the short-interest ratio is currently 4.2 days.

Institutional Trading of Black Stone Minerals

Institutional investors and hedge funds have recently modified their holdings of the business. Fiducient Advisors LLC bought a new stake in shares of Black Stone Minerals during the 3rd quarter worth $12,253,000. Penn Davis Mcfarland Inc. boosted its holdings in shares of Black Stone Minerals by 18.1% in the 4th quarter. Penn Davis Mcfarland Inc. now owns 1,601,182 shares of the oil and gas producer’s stock worth $23,377,000 after purchasing an additional 245,009 shares in the last quarter. Magnolia Capital Advisors LLC bought a new position in shares of Black Stone Minerals during the 2nd quarter valued at about $2,480,000. Horizon Kinetics Asset Management LLC increased its position in shares of Black Stone Minerals by 65.9% during the 3rd 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. Finally, International Assets Investment Management LLC bought a new stake in Black Stone Minerals in the 3rd quarter worth approximately $8,240,000. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Stock Up 0.5 %

NYSE:BSM traded up $0.09 during mid-day trading on Friday, hitting $15.60. 347,190 shares of the stock traded hands, compared to its average volume of 632,591. The business’s 50-day moving average price is $14.83 and its 200 day moving average price is $14.93. The company has a market cap of $3.29 billion, a PE ratio of 9.63 and a beta of 0.96. Black Stone Minerals has a 12-month low of $13.78 and a 12-month high of $16.92.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $117.68 million. During the same period in the previous year, the business earned $0.27 EPS. Analysts anticipate that Black Stone Minerals will post 1.36 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Piper Sandler cut their price objective on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a report 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 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.