Analysts Set Black Stone Minerals, L.P. (NYSE:BSM) PT at $14.00

Shares of Black Stone Minerals, L.P. (NYSE:BSM) have been assigned a consensus recommendation of “Hold” from the five research firms that are covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $14.00.

BSM has been the topic of a number of analyst reports. Piper Sandler boosted their price objective on shares of Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Black Stone Minerals in a research note on Monday, December 29th. Finally, Zacks Research downgraded shares of Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th.

Insider Transactions at Black Stone Minerals

In other Black Stone Minerals news, SVP Luke Stevens Putman sold 30,276 shares of the company’s stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $15.25, for a total value of $461,709.00. Following the transaction, the senior vice president directly owned 761,417 shares in the company, valued at $11,611,609.25. This represents a 3.82% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 17.80% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Black Stone Minerals

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Royal Bank of Canada increased its stake in shares of Black Stone Minerals by 7.0% during the first quarter. Royal Bank of Canada now owns 119,894 shares of the oil and gas producer’s stock valued at $1,831,000 after buying an additional 7,818 shares during the period. Grandfield & Dodd LLC bought a new position in Black Stone Minerals during the 2nd quarter worth about $397,000. AlphaCore Capital LLC increased its position in Black Stone Minerals by 19.0% during the 2nd quarter. AlphaCore Capital LLC now owns 93,980 shares of the oil and gas producer’s stock valued at $1,229,000 after purchasing an additional 15,000 shares during the period. Global Retirement Partners LLC purchased a new position in Black Stone Minerals during the 2nd quarter valued at about $385,000. Finally, Virtus Investment Advisers LLC raised its holdings in shares of Black Stone Minerals by 21.3% in the 2nd quarter. Virtus Investment Advisers LLC now owns 12,987 shares of the oil and gas producer’s stock valued at $170,000 after purchasing an additional 2,280 shares in the last quarter. Institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Price Performance

NYSE:BSM opened at $15.34 on Monday. The firm has a market capitalization of $3.26 billion, a price-to-earnings ratio of 11.98 and a beta of 0.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.88 and a quick ratio of 3.88. The business has a 50 day simple moving average of $14.67 and a 200-day simple moving average of $13.74. Black Stone Minerals has a 1 year low of $11.78 and a 1 year high of $15.52.

Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.04. The firm had revenue of $118.70 million for the quarter, compared to the consensus estimate of $98.08 million. Black Stone Minerals had a return on equity of 43.31% and a net margin of 62.26%. Equities analysts forecast that Black Stone Minerals will post 1.36 EPS for the current year.

Black Stone Minerals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 18th were issued a dividend of $0.30 per share. The ex-dividend date was Wednesday, February 18th. This represents a $1.20 dividend on an annualized basis and a yield of 7.8%. Black Stone Minerals’s payout ratio is presently 93.75%.

Black Stone Minerals Company Profile

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.