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

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

Separately, Piper Sandler reduced their price objective on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th.

Black Stone Minerals Stock Up 1.5 %

NYSE BSM traded up $0.22 on Wednesday, hitting $15.13. The company’s stock had a trading volume of 887,875 shares, compared to its average volume of 442,391. Black Stone Minerals has a 1-year low of $13.94 and a 1-year high of $18.25. The company’s 50-day moving average is $14.90 and its 200 day moving average is $15.33. The firm has a market cap of $3.41 billion, a PE ratio of 10.22 and a beta of 0.94.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data 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 64.88% and a return on equity of 37.93%. The company had revenue of $134.86 million for the quarter, compared to analyst estimates of $117.68 million. During the same period in the prior year, the firm posted $0.27 EPS. On average, equities analysts expect that Black Stone Minerals will post 1.27 EPS for the current year.

Insider Buying and Selling

In related news, CEO Thomas L. Carter, Jr. bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were acquired 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 in the company, valued at $44,239,767.36. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Black Stone Minerals news, Director D Mark Dewalch acquired 34,200 shares of the stock in a transaction on Thursday, August 15th. The shares were purchased at an average price of $14.62 per share, for a total transaction of $500,004.00. Following the completion of the acquisition, the director now owns 357,005 shares in the company, valued at approximately $5,219,413.10. This represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $14.12 per share, for a total transaction of $1,412,000.00. Following the acquisition, the chief executive officer now owns 3,133,128 shares of the company’s stock, valued at approximately $44,239,767.36. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 18.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Summit Securities Group LLC purchased a new stake in Black Stone Minerals during the second quarter worth about $74,000. SG Americas Securities LLC purchased a new position in Black Stone Minerals during the first quarter valued at approximately $102,000. Financial Advocates Investment Management purchased a new position in Black Stone Minerals during the second quarter valued at approximately $159,000. Hilltop National Bank purchased a new position in Black Stone Minerals during the first quarter valued at approximately $177,000. Finally, Choreo LLC purchased a new position in Black Stone Minerals during the second quarter valued at approximately $205,000. Institutional investors and hedge funds own 14.49% of the company’s stock.

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.