Piper Sandler Cuts Black Stone Minerals (NYSE:BSM) Price Target to $15.00

Black Stone Minerals (NYSE:BSM) had its price target trimmed by Piper Sandler from $17.00 to $15.00 in a research note published on Thursday, Benzinga reports. The brokerage currently has a neutral rating on the oil and gas producer’s stock.

Several other research analysts have also recently issued reports on BSM. StockNews.com upgraded shares of Black Stone Minerals from a hold rating to a buy rating in a report on Tuesday, August 6th. KeyCorp began coverage on shares of Black Stone Minerals in a research report on Thursday, June 27th. They issued a sector weight rating on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Hold and an average target price of $17.50.

Black Stone Minerals Stock Up 1.5 %

Black Stone Minerals stock opened at $14.79 on Thursday. The firm has a fifty day simple moving average of $15.37 and a two-hundred day simple moving average of $15.69. Black Stone Minerals has a twelve month low of $13.94 and a twelve month high of $18.55. The company has a market capitalization of $3.11 billion, a PE ratio of 9.60 and a beta of 0.93.

Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, August 5th. The oil and gas producer reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). Black Stone Minerals had a net margin of 66.29% and a return on equity of 38.71%. The company had revenue of $109.62 million during the quarter, compared to the consensus estimate of $124.24 million. During the same period last year, the firm posted $0.35 EPS. As a group, equities analysts expect that Black Stone Minerals will post 1.36 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were issued a dividend of $0.375 per share. The ex-dividend date was Friday, August 9th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.14%. Black Stone Minerals’s dividend payout ratio is presently 97.40%.

Insider Activity at Black Stone Minerals

In related news, Director D Mark Dewalch acquired 34,200 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $14.62 per share, for a total transaction of $500,004.00. Following the acquisition, the director now owns 357,005 shares of the company’s stock, valued at $5,219,413.10. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 19.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Magnolia Capital Advisors LLC purchased a new position in shares of Black Stone Minerals in the 2nd quarter valued at approximately $2,480,000. Evergreen Capital Management LLC lifted its position in Black Stone Minerals by 61.1% during the second quarter. Evergreen Capital Management LLC now owns 54,156 shares of the oil and gas producer’s stock valued at $849,000 after buying an additional 20,545 shares during the period. MAS Advisors LLC boosted its holdings in shares of Black Stone Minerals by 5.4% during the 2nd quarter. MAS Advisors LLC now owns 29,179 shares of the oil and gas producer’s stock valued at $457,000 after buying an additional 1,506 shares in the last quarter. Prevail Innovative Wealth Advisors LLC grew its position in shares of Black Stone Minerals by 25.7% in the 2nd quarter. Prevail Innovative Wealth Advisors LLC now owns 201,336 shares of the oil and gas producer’s stock worth $3,155,000 after buying an additional 41,136 shares during the period. Finally, Bahl & Gaynor Inc. increased its stake in shares of Black Stone Minerals by 29.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 17,500 shares of the oil and gas producer’s stock worth $274,000 after acquiring an additional 4,000 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.