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

Black Stone Minerals (NYSE:BSM - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research report issued on Thursday.

A number of other brokerages also recently weighed in on BSM. Piper Sandler decreased 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 Tuesday. Royal Bank of Canada upgraded Black Stone Minerals to a "hold" rating in a research report on Friday, March 14th.

Black Stone Minerals Trading Down 1.1%

Shares of BSM stock opened at $13.78 on Thursday. Black Stone Minerals has a 1-year low of $12.80 and a 1-year high of $16.38. The stock has a market cap of $2.91 billion, a price-to-earnings ratio of 8.51 and a beta of 0.34. The stock has a 50-day moving average of $14.49 and a 200-day moving average of $14.75.

Black Stone Minerals (NYSE:BSM - Get Free Report) last posted its quarterly earnings data on Monday, February 24th. The oil and gas producer reported $0.18 EPS for the quarter, missing analysts' consensus estimates of $0.39 by ($0.21). Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The firm had revenue of $83.73 million during the quarter, compared to the consensus estimate of $115.46 million. Sell-side analysts forecast that Black Stone Minerals will post 1.36 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BSM. Penn Davis Mcfarland Inc. increased its holdings in shares of Black Stone Minerals by 16.3% during the first quarter. Penn Davis Mcfarland Inc. now owns 1,861,741 shares of the oil and gas producer's stock valued at $28,429,000 after acquiring an additional 260,559 shares in the last quarter. Investment Management Associates Inc. ADV grew its position in Black Stone Minerals by 30.8% in the 4th quarter. Investment Management Associates Inc. ADV now owns 1,544,182 shares of the oil and gas producer's stock valued at $22,545,000 after purchasing an additional 363,962 shares during the period. Cresset Asset Management LLC increased its stake in Black Stone Minerals by 500.5% during the 4th quarter. Cresset Asset Management LLC now owns 596,853 shares of the oil and gas producer's stock valued at $8,714,000 after purchasing an additional 497,457 shares in the last quarter. Epacria Capital Partners LLC raised its holdings in Black Stone Minerals by 5.4% during the fourth quarter. Epacria Capital Partners LLC now owns 578,422 shares of the oil and gas producer's stock worth $8,445,000 after buying an additional 29,724 shares during the last quarter. Finally, Concorde Financial Corp lifted its stake in shares of Black Stone Minerals by 0.5% in the fourth quarter. Concorde Financial Corp now owns 483,209 shares of the oil and gas producer's stock valued at $7,055,000 after buying an additional 2,202 shares in the last quarter. 14.49% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.