Black Stone Minerals (NYSE:BSM - Get Free Report) had its target price cut by equities research analysts at Piper Sandler from $14.00 to $13.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the oil and gas producer's stock. Piper Sandler's price objective points to a potential upside of 2.99% from the company's current price.
Separately, Wall Street Zen lowered Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th.
Check Out Our Latest Research Report on BSM
Black Stone Minerals Stock Down 0.2%
NYSE:BSM traded down $0.03 during trading hours on Thursday, reaching $12.62. 67,603 shares of the company traded hands, compared to its average volume of 446,096. Black Stone Minerals has a 1 year low of $11.96 and a 1 year high of $15.66. The business's 50-day moving average price is $12.93 and its two-hundred day moving average price is $13.94. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $2.67 billion, a P/E ratio of 10.90 and a beta of 0.28.
Black Stone Minerals (NYSE:BSM - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.23. The firm had revenue of $159.49 million during the quarter, compared to analysts' expectations of $112.19 million. Black Stone Minerals had a return on equity of 39.67% and a net margin of 61.21%. Analysts predict that Black Stone Minerals will post 1.36 earnings per share for the current year.
Insiders Place Their Bets
In other Black Stone Minerals news, SVP Carrie Pearson Clark sold 36,900 shares of the stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $13.56, for a total value of $500,364.00. Following the completion of the sale, the senior vice president directly owned 165,857 shares in the company, valued at approximately $2,249,020.92. This trade represents a 18.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas L. Carter, Jr. acquired 25,000 shares of the business's stock in a transaction dated Monday, August 11th. The stock was purchased at an average cost of $12.10 per share, for a total transaction of $302,500.00. Following the completion of the acquisition, the chief executive officer directly owned 3,421,831 shares of the company's stock, valued at approximately $41,404,155.10. This trade represents a 0.74% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 86,710 shares of company stock valued at $1,075,290 over the last 90 days. 17.80% of the stock is currently owned by company insiders.
Institutional Trading of Black Stone Minerals
Institutional investors have recently made changes to their positions in the company. Doliver Advisors LP raised its position in Black Stone Minerals by 2.6% in the first quarter. Doliver Advisors LP now owns 31,734 shares of the oil and gas producer's stock valued at $485,000 after purchasing an additional 791 shares during the period. Vident Advisory LLC grew its stake in Black Stone Minerals by 2.7% during the 4th quarter. Vident Advisory LLC now owns 31,738 shares of the oil and gas producer's stock worth $463,000 after purchasing an additional 846 shares in the last quarter. Moors & Cabot Inc. increased its holdings in shares of Black Stone Minerals by 1.4% in the 2nd quarter. Moors & Cabot Inc. now owns 63,000 shares of the oil and gas producer's stock valued at $824,000 after acquiring an additional 900 shares during the last quarter. MAS Advisors LLC increased its holdings in shares of Black Stone Minerals by 4.1% in the 2nd quarter. MAS Advisors LLC now owns 26,176 shares of the oil and gas producer's stock valued at $342,000 after acquiring an additional 1,041 shares during the last quarter. Finally, Belpointe Asset Management LLC increased its holdings in shares of Black Stone Minerals by 8.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 14,975 shares of the oil and gas producer's stock valued at $196,000 after acquiring an additional 1,112 shares during the last quarter. 14.49% of the stock is owned by institutional investors and hedge funds.
About Black Stone Minerals
(
Get Free Report)
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.
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