Black Stone Minerals (NYSE:BSM) Price Target Cut to $14.00 by Analysts at Piper Sandler

Black Stone Minerals (NYSE:BSM) had its price objective trimmed by Piper Sandler from $15.00 to $14.00 in a report released on Monday,Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

Separately, StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Thursday, November 14th.

Black Stone Minerals Price Performance

BSM stock opened at $15.16 on Monday. The stock has a market capitalization of $3.19 billion, a P/E ratio of 9.39 and a beta of 0.94. Black Stone Minerals has a 1-year low of $13.94 and a 1-year high of $17.80. The business has a fifty day moving average price of $14.98 and a 200-day moving average price of $15.29.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating 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 firm had revenue of $134.86 million during the quarter, compared to analysts’ expectations of $117.68 million. During the same period in the previous year, the company earned $0.27 earnings per share. As a group, analysts anticipate that Black Stone Minerals will post 1.32 earnings per share for the current 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 paid a $0.375 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.50 annualized dividend and a yield of 9.89%. Black Stone Minerals’s payout ratio is 92.59%.

Insider Buying and Selling

In related news, SVP Carrie Pearson Clark sold 18,532 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $14.84, for a total transaction of $275,014.88. Following the sale, the senior vice president now owns 116,923 shares in the company, valued at approximately $1,735,137.32. This represents a 13.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $14.12 per share, with a total value of $1,412,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. This trade represents a 3.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 18.60% of the stock is owned by company insiders.

Institutional Trading of Black Stone Minerals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new stake in shares of Black Stone Minerals in the third quarter worth approximately $54,000. Summit Securities Group LLC purchased a new stake in shares of Black Stone Minerals during the second quarter valued at $74,000. SG Americas Securities LLC bought a new position in shares of Black Stone Minerals in the first quarter worth about $102,000. Financial Advocates Investment Management purchased a new position in Black Stone Minerals in the 2nd quarter worth about $159,000. Finally, Choreo LLC bought a new stake in Black Stone Minerals during the 2nd quarter valued at about $205,000. 14.49% of the stock is owned by hedge funds and other 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.