Black Stone Minerals (NYSE:BSM) Cut to Hold at StockNews.com

StockNews.com lowered shares of Black Stone Minerals (NYSE:BSM) from a buy rating to a hold rating in a report published on Sunday morning.

Separately, Piper Sandler dropped 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.

Black Stone Minerals Stock Down 2.0 %

NYSE:BSM opened at $14.44 on Friday. The firm has a market cap of $3.04 billion, a PE ratio of 8.91 and a beta of 0.96. Black Stone Minerals has a 12 month low of $13.94 and a 12 month high of $16.92. The company’s 50-day moving average price is $15.10 and its two-hundred day moving average price is $15.18.

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 for the quarter, compared to analyst estimates of $117.68 million. During the same period in the previous year, the business earned $0.27 earnings per share. On average, research analysts expect that Black Stone Minerals will post 1.32 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.50 annualized dividend and a yield of 10.39%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 92.59%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Redhawk Wealth Advisors Inc. bought a new position in shares of Black Stone Minerals during the 2nd quarter worth approximately $228,000. Summit Securities Group LLC acquired a new stake in Black Stone Minerals during the 2nd quarter worth approximately $74,000. Financial Advocates Investment Management acquired a new stake in Black Stone Minerals during the 2nd quarter worth approximately $159,000. Commonwealth Equity Services LLC lifted its holdings in Black Stone Minerals by 21.8% during the 2nd quarter. Commonwealth Equity Services LLC now owns 33,915 shares of the oil and gas producer’s stock worth $531,000 after purchasing an additional 6,069 shares during the last quarter. Finally, GraniteShares Advisors LLC lifted its holdings in 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 purchasing an additional 15,188 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.