Black Stone Minerals (NYSE:BSM) Stock Rating Lowered by StockNews.com

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

Separately, Piper Sandler reduced their price target on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, November 18th.

Black Stone Minerals Trading Down 0.2 %

Black Stone Minerals stock opened at $15.14 on Tuesday. Black Stone Minerals has a twelve month low of $13.78 and a twelve month high of $16.92. The stock has a 50 day moving average of $14.88 and a two-hundred day moving average of $14.89. The stock has a market capitalization of $3.19 billion, a price-to-earnings ratio of 9.34 and a beta of 0.94.

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

Black Stone Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 18th were issued a dividend of $0.375 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.50 annualized dividend and a yield of 9.91%. Black Stone Minerals’s dividend payout ratio is presently 130.43%.

Hedge Funds Weigh In On Black Stone Minerals

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new position in Black Stone Minerals during the third quarter worth $76,000. Horizon Kinetics Asset Management LLC increased its position in Black Stone Minerals by 65.9% during the third quarter. Horizon Kinetics Asset Management LLC now owns 275,638 shares of the oil and gas producer’s stock worth $4,162,000 after buying an additional 109,500 shares in the last quarter. International Assets Investment Management LLC purchased a new position in Black Stone Minerals during the third quarter worth $8,240,000. ING Groep NV grew its position in shares of Black Stone Minerals by 5.9% in the third quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer’s stock valued at $9,859,000 after purchasing an additional 36,300 shares during the period. Finally, Fiducient Advisors LLC purchased a new stake in shares of Black Stone Minerals in the third quarter valued at $12,253,000. Hedge funds and other 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.