Black Stone Minerals (NYSE:BSM) Upgraded by StockNews.com to Buy Rating

Black Stone Minerals (NYSE:BSM) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Thursday.

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

Black Stone Minerals Trading Up 0.6 %

Black Stone Minerals stock opened at $15.15 on Thursday. The firm has a 50-day moving average price of $14.92 and a 200-day moving average price of $15.31. The firm has a market capitalization of $3.41 billion, a PE ratio of 9.35 and a beta of 0.94. Black Stone Minerals has a 12-month low of $13.94 and a 12-month high of $17.80.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share 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 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 EPS. As a group, sell-side analysts predict that Black Stone Minerals will post 1.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Black Stone Minerals

In other Black Stone Minerals news, SVP Carrie Pearson Clark sold 18,532 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $14.84, for a total transaction of $275,014.88. Following the transaction, the senior vice president now owns 116,923 shares of the company’s stock, valued at approximately $1,735,137.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. bought 100,000 shares of the business’s stock in a transaction on Friday, September 6th. The shares were acquired at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the transaction, the chief executive officer now owns 3,133,128 shares of the company’s stock, valued at approximately $44,239,767.36. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 116,923 shares in the company, valued at approximately $1,735,137.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 18.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Prevail Innovative Wealth Advisors LLC purchased a new position in shares of Black Stone Minerals in the 1st quarter worth approximately $2,560,000. Magnolia Capital Advisors LLC purchased a new position in shares of Black Stone Minerals in the 2nd quarter worth approximately $2,480,000. International Assets Investment Management LLC purchased a new position in shares of Black Stone Minerals in the 3rd quarter worth approximately $8,240,000. Fiducient Advisors LLC acquired a new stake in Black Stone Minerals in the 3rd quarter worth approximately $12,253,000. Finally, GraniteShares Advisors LLC boosted its stake in Black Stone Minerals by 14.2% in 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 in the last quarter. Hedge funds and other institutional investors 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.