Piper Sandler Lowers Black Stone Minerals (NYSE:BSM) Price Target to $14.00

Black Stone Minerals (NYSE:BSM) had its price target reduced by investment analysts at Piper Sandler from $15.00 to $14.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s price objective points to a potential upside of 1.60% from the company’s previous close.

Several other research firms have also weighed in on BSM. Royal Bank of Canada raised Black Stone Minerals to a “hold” rating in a research report on Friday, March 14th. StockNews.com upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Wednesday, May 7th.

Black Stone Minerals Trading Down 1.1%

Black Stone Minerals stock opened at $13.78 on Tuesday. Black Stone Minerals has a 1-year low of $12.80 and a 1-year high of $16.38. The company has a fifty day simple moving average of $14.49 and a 200 day simple moving average of $14.75. The company has a market cap of $2.91 billion, a P/E ratio of 8.51 and a beta of 0.34.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, February 24th. The oil and gas producer reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.21). The business had revenue of $83.73 million for the quarter, compared to analyst estimates of $115.46 million. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. On average, equities research analysts forecast that Black Stone Minerals will post 1.36 EPS for the current year.

Institutional Trading of Black Stone Minerals

Several institutional investors and hedge funds have recently bought and sold shares of the business. SVB Wealth LLC acquired a new position in shares of Black Stone Minerals during the 1st quarter worth approximately $25,000. Jones Financial Companies Lllp boosted its position 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 purchasing an additional 1,000 shares during the period. PNC Financial Services Group Inc. acquired a new position in shares of Black Stone Minerals in the first quarter valued at $29,000. NBC Securities Inc. raised its position in shares of Black Stone Minerals by 202,400.0% in the first quarter. NBC Securities Inc. now owns 2,025 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 2,024 shares during the period. Finally, North Capital Inc. bought a new position in shares of Black Stone Minerals in the first quarter valued at about $46,000. Institutional investors own 14.49% of the company’s stock.

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.