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

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

BSM has been the topic of several other research reports. Piper Sandler dropped their target price on Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Royal Bank of Canada upgraded shares of Black Stone Minerals to a "hold" rating in a research report on Friday, March 14th.

Black Stone Minerals Stock Performance

Shares of NYSE BSM remained flat at $13.60 during trading hours on Thursday. The company had a trading volume of 14,469 shares, compared to its average volume of 435,878. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 8.40 and a beta of 0.34. The business's fifty day simple moving average is $14.41 and its 200-day simple moving average is $14.73. Black Stone Minerals has a 1 year low of $12.80 and a 1 year high of $16.31.

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

Institutional Investors Weigh In On Black Stone Minerals

A number of hedge funds and other institutional investors have recently made changes to their positions in BSM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Black Stone Minerals by 3,141.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 913,495 shares of the oil and gas producer's stock valued at $13,949,000 after purchasing an additional 885,311 shares during the period. Cresset Asset Management LLC grew its position in Black Stone Minerals by 500.5% during the fourth quarter. Cresset Asset Management LLC now owns 596,853 shares of the oil and gas producer's stock valued at $8,714,000 after acquiring an additional 497,457 shares during the period. Investment Management Associates Inc. ADV grew its holdings in shares of Black Stone Minerals by 30.8% during the 4th quarter. Investment Management Associates Inc. ADV now owns 1,544,182 shares of the oil and gas producer's stock worth $22,545,000 after purchasing an additional 363,962 shares during the period. Aptus Capital Advisors LLC purchased a new stake in shares of Black Stone Minerals during the 4th quarter worth about $4,876,000. Finally, Northern Trust Corp purchased a new stake in Black Stone Minerals during the fourth quarter worth approximately $4,428,000. Hedge funds and other institutional investors own 14.49% of the company's stock.

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.