Black Stone Minerals (NYSE:BSM) Given New $19.00 Price Target at Piper Sandler

Black Stone Minerals (NYSE:BSMGet Rating) had its price objective lifted by Piper Sandler from $18.00 to $19.00 in a research report released on Thursday morning, The Fly reports. The firm currently has a neutral rating on the oil and gas producer’s stock.

Other research analysts also recently issued research reports about the stock. TheStreet upgraded shares of Black Stone Minerals from a c+ rating to a b rating in a research report on Friday, September 2nd. StockNews.com began coverage on shares of Black Stone Minerals in a report on Wednesday, October 12th. They issued a buy rating for the company. Finally, KeyCorp began coverage on shares of Black Stone Minerals in a report on Monday, September 19th. They issued an overweight rating and a $22.00 price objective for the company. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Buy and a consensus price target of $20.50.

Black Stone Minerals Trading Down 0.1 %

Shares of Black Stone Minerals stock opened at $17.94 on Thursday. The firm has a 50-day simple moving average of $17.29 and a two-hundred day simple moving average of $15.87. The company has a market cap of $3.76 billion, a P/E ratio of 9.54 and a beta of 1.05. Black Stone Minerals has a fifty-two week low of $9.70 and a fifty-two week high of $20.24. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.25 and a current ratio of 2.25.

Black Stone Minerals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 10th were paid a $0.45 dividend. This is a boost from Black Stone Minerals’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, November 9th. This represents a $1.80 annualized dividend and a dividend yield of 10.03%. Black Stone Minerals’s dividend payout ratio is 95.75%.

Insider Buying and Selling

In related news, CEO Thomas L. Carter, Jr. acquired 25,000 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was purchased at an average price of $16.39 per share, with a total value of $409,750.00. Following the transaction, the chief executive officer now owns 2,273,012 shares of the company’s stock, valued at approximately $37,254,666.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Thomas L. Carter, Jr. acquired 25,000 shares of the stock in a transaction that occurred on Wednesday, September 14th. The stock was purchased at an average price of $16.39 per share, with a total value of $409,750.00. Following the transaction, the chief executive officer now owns 2,273,012 shares of the company’s stock, valued at approximately $37,254,666.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Dawn Smajstrla sold 5,300 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $19.41, for a total transaction of $102,873.00. Following the transaction, the chief accounting officer now directly owns 78,348 shares of the company’s stock, valued at approximately $1,520,734.68. The disclosure for this sale can be found here. In the last quarter, insiders purchased 75,000 shares of company stock valued at $1,298,000. Company insiders own 21.10% of the company’s stock.

Institutional Investors Weigh In On Black Stone Minerals

A number of hedge funds have recently added to or reduced their stakes in BSM. Commonwealth Equity Services LLC acquired a new stake in Black Stone Minerals during the 1st quarter worth approximately $188,000. Russell Investments Group Ltd. lifted its holdings in Black Stone Minerals by 399.5% during the 1st quarter. Russell Investments Group Ltd. now owns 26,481 shares of the oil and gas producer’s stock worth $354,000 after buying an additional 21,180 shares in the last quarter. Brown Advisory Inc. raised its holdings in shares of Black Stone Minerals by 1.0% in the 1st quarter. Brown Advisory Inc. now owns 1,274,993 shares of the oil and gas producer’s stock valued at $16,061,000 after purchasing an additional 12,088 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of Black Stone Minerals by 7.6% in the 1st quarter. Cullen Frost Bankers Inc. now owns 74,192 shares of the oil and gas producer’s stock valued at $999,000 after purchasing an additional 5,238 shares in the last quarter. Finally, Doliver Advisors LP raised its holdings in shares of Black Stone Minerals by 22.2% in the 1st quarter. Doliver Advisors LP now owns 23,124 shares of the oil and gas producer’s stock valued at $311,000 after purchasing an additional 4,200 shares in the last quarter. 15.06% of the stock is currently owned by institutional investors and hedge funds.

About Black Stone Minerals

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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 1.7 million gross acres located in 41 states in the United States.

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