Black Stone Minerals, L.P. (NYSE:BSM) Short Interest Down 6.4% in December

Black Stone Minerals, L.P. (NYSE:BSM) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totalling 2,190,000 shares, a drop of 6.4% from the December 15th total of 2,340,000 shares. Currently, 1.3% of the company’s shares are sold short. Based on an average trading volume of 516,200 shares, the days-to-cover ratio is presently 4.2 days.

Hedge Funds Weigh In On Black Stone Minerals

Several institutional investors and hedge funds have recently made changes to their positions in BSM. Larson Financial Group LLC acquired a new stake in Black Stone Minerals in the third quarter valued at $54,000. JPMorgan Chase & Co. acquired a new position in Black Stone Minerals in the third quarter worth about $76,000. Choreo LLC bought a new stake in Black Stone Minerals in the second quarter valued at about $205,000. BCS Wealth Management raised its stake in Black Stone Minerals by 15.1% during the third quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock valued at $213,000 after buying an additional 1,852 shares in the last quarter. Finally, Indie Asset Partners LLC bought a new position in Black Stone Minerals during the 3rd quarter worth approximately $234,000. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Black Stone Minerals Trading Up 0.5 %

BSM stock traded up $0.09 during trading on Monday, reaching $15.60. The stock had a trading volume of 347,190 shares, compared to its average volume of 632,591. The firm has a fifty day moving average price of $14.83 and a 200 day moving average price of $14.93. The company has a market capitalization of $3.29 billion, a P/E ratio of 9.63 and a beta of 0.96. Black Stone Minerals has a 1-year low of $13.78 and a 1-year high of $16.92.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. The firm had revenue of $134.86 million during the quarter, compared to the consensus estimate of $117.68 million. During the same quarter in the prior year, the business posted $0.27 earnings per share. Sell-side analysts predict that Black Stone Minerals will post 1.36 EPS for the current year.

Analyst Upgrades and Downgrades

BSM has been the subject of several analyst reports. StockNews.com upgraded Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. Piper Sandler decreased their price objective on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, November 18th.

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.