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

StockNews.com upgraded shares of Black Stone Minerals (NYSE:BSM) from a hold rating to a buy rating in a research note released on Wednesday morning.

A number of other equities research analysts also recently commented on the stock. Piper Sandler lowered their price target on shares of Black Stone Minerals from $16.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada raised shares of Black Stone Minerals to a “hold” rating in a research note on Friday, March 14th.

Black Stone Minerals Price Performance

Shares of Black Stone Minerals stock opened at $13.71 on Wednesday. The business has a 50 day moving average price of $14.54 and a 200 day moving average price of $14.78. The company has a market capitalization of $2.89 billion, a P/E ratio of 8.46 and a beta of 0.34. Black Stone Minerals has a 1 year low of $12.80 and a 1 year high of $16.38.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.21). The company had revenue of $83.73 million during the quarter, compared to analysts’ expectations of $115.46 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. As a group, research analysts expect that Black Stone Minerals will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 8th will be given a $0.375 dividend. The ex-dividend date is Thursday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 10.94%. Black Stone Minerals’s dividend payout ratio is presently 130.43%.

Hedge Funds Weigh In On Black Stone Minerals

Institutional investors and hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. purchased a new stake in shares of Black Stone Minerals during the 1st quarter valued at $29,000. Jones Financial Companies Lllp increased its stake in Black Stone Minerals by 100.0% during the fourth quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer’s stock worth $29,000 after acquiring an additional 1,000 shares during the last quarter. NBC Securities Inc. raised its holdings in shares of Black Stone Minerals by 202,400.0% in the 1st quarter. NBC Securities Inc. now owns 2,025 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 2,024 shares during the period. North Capital Inc. acquired a new position in shares of Black Stone Minerals in the 1st quarter valued at about $46,000. Finally, JPMorgan Chase & Co. purchased a new stake in shares of Black Stone Minerals during the 3rd quarter worth about $76,000. 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.