Black Stone Minerals (NYSE:BSM) Downgraded by StockNews.com to “Hold”

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

Separately, Piper Sandler lowered their target price on shares of 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 Up 0.2 %

Shares of NYSE:BSM opened at $14.71 on Friday. Black Stone Minerals has a 52 week low of $13.94 and a 52 week high of $16.92. The company’s 50 day moving average is $15.11 and its two-hundred day moving average is $15.19. The company has a market cap of $3.10 billion, a PE ratio of 9.08 and a beta of 0.96.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping 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 company had revenue of $134.86 million during the quarter, compared to the consensus estimate of $117.68 million. During the same period in the previous year, the business earned $0.27 EPS. As a group, equities research analysts expect that Black Stone Minerals will post 1.32 EPS for the current year.

Institutional Trading of Black Stone Minerals

Large investors have recently bought and sold shares of the business. Magnolia Capital Advisors LLC purchased a new position in Black Stone Minerals in the 2nd quarter valued at $2,480,000. International Assets Investment Management LLC purchased a new position in Black Stone Minerals during the third quarter worth about $8,240,000. Horizon Kinetics Asset Management LLC lifted its position in Black Stone Minerals by 65.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 275,638 shares of the oil and gas producer’s stock valued at $4,162,000 after purchasing an additional 109,500 shares during the period. ING Groep NV increased its position in Black Stone Minerals by 5.9% during the 3rd quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer’s stock worth $9,859,000 after purchasing an additional 36,300 shares during the period. Finally, Fiducient Advisors LLC acquired a new position in Black Stone Minerals during the third quarter worth $12,253,000. Institutional investors and hedge funds 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.