Piper Sandler Issues Positive Forecast for Black Stone Minerals (NYSE:BSM) Stock Price

Black Stone Minerals (NYSE:BSM) had its price target hoisted by Piper Sandler from $13.00 to $14.00 in a research report released on Thursday,Benzinga reports. Piper Sandler currently has a neutral rating on the oil and gas producer’s stock.

BSM has been the subject of several other research reports. Zacks Research cut shares of Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, February 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Black Stone Minerals in a research note on Monday, December 29th. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $14.00.

Black Stone Minerals Price Performance

Shares of BSM stock opened at $15.38 on Thursday. Black Stone Minerals has a twelve month low of $11.78 and a twelve month high of $15.52. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.19. The stock has a fifty day simple moving average of $14.52 and a two-hundred day simple moving average of $13.64. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 12.02 and a beta of 0.17.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, February 23rd. The oil and gas producer reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04. Black Stone Minerals had a return on equity of 43.31% and a net margin of 62.26%.The firm had revenue of $118.70 million for the quarter, compared to analyst estimates of $98.08 million. On average, analysts predict that Black Stone Minerals will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 18th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 7.8%. The ex-dividend date was Wednesday, February 18th. Black Stone Minerals’s dividend payout ratio (DPR) is 93.75%.

Hedge Funds Weigh In On Black Stone Minerals

A number of large investors have recently made changes to their positions in BSM. Morgan Stanley boosted its position in shares of Black Stone Minerals by 57.1% in the 4th quarter. Morgan Stanley now owns 7,107,673 shares of the oil and gas producer’s stock worth $94,461,000 after purchasing an additional 2,582,823 shares in the last quarter. Bank of America Corp DE raised its stake in Black Stone Minerals by 2.2% in the third quarter. Bank of America Corp DE now owns 2,600,182 shares of the oil and gas producer’s stock valued at $34,166,000 after buying an additional 56,368 shares during the last quarter. Penn Davis Mcfarland Inc. boosted its holdings in Black Stone Minerals by 2.5% in the fourth quarter. Penn Davis Mcfarland Inc. now owns 1,967,467 shares of the oil and gas producer’s stock worth $26,148,000 after acquiring an additional 48,677 shares in the last quarter. Investment Management Associates Inc. ADV boosted its holdings in Black Stone Minerals by 22.6% in the third quarter. Investment Management Associates Inc. ADV now owns 1,934,739 shares of the oil and gas producer’s stock worth $25,422,000 after acquiring an additional 356,852 shares in the last quarter. Finally, Northwestern University purchased a new stake in shares of Black Stone Minerals during the fourth quarter worth about $15,671,000. 14.49% of the stock is owned by institutional investors and hedge funds.

About Black Stone Minerals

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.