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

Black Stone Minerals (NYSE:BSM) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.

Separately, Piper Sandler reduced 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.

Black Stone Minerals Stock Performance

Shares of BSM traded up $0.22 during mid-day trading on Tuesday, reaching $15.16. The company had a trading volume of 951,509 shares, compared to its average volume of 453,809. Black Stone Minerals has a 52 week low of $13.78 and a 52 week high of $16.92. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 9.35 and a beta of 0.94. The firm has a 50-day moving average price of $14.81 and a 200 day moving average price of $14.88.

Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, February 24th. The oil and gas producer reported $0.18 EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $115.46 million. As a group, research analysts forecast that Black Stone Minerals will post 1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Black Stone Minerals

Several institutional investors have recently modified their holdings of BSM. Jones Financial Companies Lllp raised its position in Black Stone Minerals by 100.0% in the 4th quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer’s stock worth $29,000 after buying an additional 1,000 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of Black Stone Minerals in the third quarter worth approximately $54,000. JPMorgan Chase & Co. purchased a new position in shares of Black Stone Minerals during the third quarter valued at approximately $76,000. State of Wyoming bought a new position in Black Stone Minerals during the fourth quarter valued at approximately $107,000. Finally, Virtus ETF Advisers LLC boosted its holdings in Black Stone Minerals by 14.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 11,838 shares of the oil and gas producer’s stock worth $173,000 after purchasing an additional 1,463 shares during the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.

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.