Black Stone Minerals, L.P. (NYSE:BSM) Sees Large Drop in Short Interest

Black Stone Minerals, L.P. (NYSE:BSM) was the recipient of a significant drop in short interest in the month of 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. Based on an average daily 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 sold short.

Analysts Set New Price Targets

BSM has been the topic of several recent research reports. Piper Sandler decreased 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 report on Monday, November 18th. StockNews.com upgraded Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Monday, December 16th.

Black Stone Minerals Price Performance

Shares of BSM traded up $0.09 during trading hours on Friday, hitting $15.60. The stock had a trading volume of 347,190 shares, compared to its average volume of 632,591. Black Stone Minerals has a 52 week low of $13.78 and a 52 week high of $16.92. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 9.63 and a beta of 0.96. The company’s fifty day moving average is $14.83 and its two-hundred day moving average is $14.93.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $134.86 million during the quarter, compared to analyst estimates of $117.68 million. During the same quarter last year, the business posted $0.27 earnings per share. Equities analysts predict that Black Stone Minerals will post 1.36 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BSM. Larson Financial Group LLC bought a new position in shares of Black Stone Minerals during the third quarter worth $54,000. JPMorgan Chase & Co. bought a new position in Black Stone Minerals during the third quarter worth about $76,000. Choreo LLC bought a new stake in shares of Black Stone Minerals in the second quarter worth about $205,000. BCS Wealth Management increased its holdings in shares of Black Stone Minerals by 15.1% in the third quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock worth $213,000 after acquiring an additional 1,852 shares in the last quarter. Finally, Indie Asset Partners LLC acquired a new stake in shares of Black Stone Minerals during the third quarter worth about $234,000. 14.49% of the stock is currently owned by institutional investors and hedge funds.

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.