Free Trial

Piper Sandler Has Lowered Expectations for Black Stone Minerals (NYSE:BSM) Stock Price

Black Stone Minerals logo with Energy background

Key Points

  • Piper Sandler has revised its target price for Black Stone Minerals (NYSE:BSM) from $14.00 to $13.00, maintaining a "neutral" rating for the stock.
  • The company's stock is currently trading at $12.62, reflecting a 0.2% decrease in value during recent trading hours.
  • Recent insider trading includes SVP Carrie Pearson Clark selling 36,900 shares and CEO Thomas L. Carter, Jr. acquiring 25,000 shares of the company, indicating mixed signals from leadership.
  • Need better tools to track Black Stone Minerals? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

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.

Featured Articles

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.

Should You Invest $1,000 in Black Stone Minerals Right Now?

Before you consider Black Stone Minerals, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Black Stone Minerals wasn't on the list.

While Black Stone Minerals currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

5G Stocks: The Path Forward is Profitable Cover

Enter your email address and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

3 Stocks With Explosive Upside
September Slowdown: 3 Stocks to Buy When the Pullback Comes
3 Overlooked Stocks Riding the AI Data Center Boom

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines