Piper Sandler Forecasts Strong Price Appreciation for Black Stone Minerals (NYSE:BSM) Stock

Black Stone Minerals (NYSE:BSM) had its price target increased by analysts at Piper Sandler from $13.00 to $14.00 in a note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the oil and gas producer’s stock. Piper Sandler’s price objective would indicate a potential downside of 8.02% from the company’s current price.

Other equities research analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Black Stone Minerals in a research report on Monday, December 29th. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Black Stone Minerals currently has a consensus rating of “Hold” and a consensus target price of $14.00.

Black Stone Minerals Stock Performance

Shares of Black Stone Minerals stock opened at $15.22 on Thursday. Black Stone Minerals has a 1 year low of $11.78 and a 1 year high of $15.52. The firm’s 50-day moving average is $14.56 and its 200 day moving average is $13.67. The stock has a market cap of $3.23 billion, a price-to-earnings ratio of 11.89 and a beta of 0.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.88 and a quick ratio of 3.88.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings data on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The business had revenue of $118.70 million during the quarter, compared to analyst estimates of $98.08 million. Black Stone Minerals had a net margin of 62.26% and a return on equity of 43.31%. Sell-side analysts anticipate that Black Stone Minerals will post 1.36 EPS for the current fiscal year.

Insider Buying and Selling at Black Stone Minerals

In other news, SVP Luke Stevens Putman sold 30,276 shares of the business’s stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $15.25, for a total transaction of $461,709.00. Following the completion of the transaction, the senior vice president directly owned 761,417 shares of the company’s stock, valued at $11,611,609.25. The trade was a 3.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 17.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Black Stone Minerals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Doliver Advisors LP raised its stake in Black Stone Minerals by 2.5% during the 4th quarter. Doliver Advisors LP now owns 35,024 shares of the oil and gas producer’s stock valued at $465,000 after buying an additional 850 shares during the last quarter. Moors & Cabot Inc. boosted its stake 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 worth $824,000 after buying an additional 900 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Black Stone Minerals by 61.0% in the fourth quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 900 shares during the period. MAS Advisors LLC grew its holdings in shares of Black Stone Minerals by 3.5% in the third quarter. MAS Advisors LLC now owns 27,089 shares of the oil and gas producer’s stock worth $356,000 after acquiring an additional 913 shares during the period. Finally, Redhawk Wealth Advisors Inc. increased its position in Black Stone Minerals by 8.8% during the third quarter. Redhawk Wealth Advisors Inc. now owns 11,416 shares of the oil and gas producer’s stock valued at $150,000 after acquiring an additional 927 shares during the last quarter. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Company Profile

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.