Black Stone Minerals (NYSE:BSM) had its price objective decreased by investment analysts at Raymond James from $17.00 to $16.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has a “strong-buy” rating on the oil and gas producer’s stock. Raymond James’ price objective indicates a potential upside of 53.70% from the company’s current price.
Several other equities research analysts have also issued reports on BSM. Wells Fargo & Company raised shares of Black Stone Minerals from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $11.00 to $13.00 in a report on Friday, September 3rd. Piper Sandler increased their target price on shares of Black Stone Minerals from $10.50 to $12.25 and gave the stock a “neutral” rating in a report on Wednesday, October 13th. Finally, Zacks Investment Research lowered shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Wednesday, November 24th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Black Stone Minerals presently has an average rating of “Buy” and a consensus price target of $32.85.
Shares of NYSE:BSM opened at $10.41 on Monday. Black Stone Minerals has a fifty-two week low of $6.63 and a fifty-two week high of $12.75. The business has a 50-day simple moving average of $11.88 and a two-hundred day simple moving average of $11.01. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.71 and a current ratio of 0.71. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 38.56 and a beta of 1.41.
Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, November 1st. The oil and gas producer reported $0.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.15 by ($0.10). Black Stone Minerals had a net margin of 30.37% and a return on equity of 19.55%. The business had revenue of $59.83 million for the quarter, compared to analysts’ expectations of $85.22 million. During the same period in the previous year, the company earned $0.09 EPS. Black Stone Minerals’s revenue for the quarter was up 36.8% compared to the same quarter last year. As a group, research analysts predict that Black Stone Minerals will post 0.85 earnings per share for the current year.
A number of large investors have recently added to or reduced their stakes in BSM. Morgan Stanley raised its holdings in Black Stone Minerals by 41.0% during the 2nd quarter. Morgan Stanley now owns 3,157,380 shares of the oil and gas producer’s stock valued at $33,942,000 after buying an additional 918,817 shares during the period. Magnolia Group LLC increased its stake in Black Stone Minerals by 53.2% in the third quarter. Magnolia Group LLC now owns 955,427 shares of the oil and gas producer’s stock worth $11,513,000 after purchasing an additional 331,595 shares during the period. Tocqueville Asset Management L.P. purchased a new stake in Black Stone Minerals in the second quarter worth $3,440,000. Marshall Wace LLP purchased a new stake in Black Stone Minerals in the second quarter worth $2,547,000. Finally, Investment Management Associates Inc. ADV increased its stake in Black Stone Minerals by 393.0% in the second quarter. Investment Management Associates Inc. ADV now owns 208,529 shares of the oil and gas producer’s stock worth $2,242,000 after purchasing an additional 166,229 shares during the period. Institutional investors own 17.49% of the company’s stock.
About Black Stone Minerals
Black Stone Minerals LP is an exploration company. The firm engages in the exploration of oil and natural gas minerals. It focuses in the operation of Louisiana-Mississippi Salt Basins, Western Gulf, Permian Basin, Palo Duro Basin, East Texas Basin, Anadarko Basin, Appalachian Basin, Arkoma Basin, Bend Arch-Fort Worth, and Southwestern Wyoming.
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