Black Stone Minerals (NYSE:BSM) Share Price Passes Below 200 Day Moving Average – What’s Next?

Black Stone Minerals, L.P. (NYSE:BSM)’s share price crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.49 and traded as low as $15.13. Black Stone Minerals shares last traded at $15.21, with a volume of 186,008 shares traded.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. KeyCorp assumed coverage on shares of Black Stone Minerals in a research note on Thursday, June 27th. They issued a “sector weight” rating for the company. Piper Sandler lowered their price target on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Finally, StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $17.50.

Black Stone Minerals Stock Up 0.2 %

The stock’s fifty day moving average price is $14.78 and its two-hundred day moving average price is $15.49. The company has a market capitalization of $3.21 billion, a PE ratio of 9.89 and a beta of 0.93.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, August 5th. The oil and gas producer reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). The firm had revenue of $109.62 million for the quarter, compared to analysts’ expectations of $124.24 million. Black Stone Minerals had a return on equity of 37.93% and a net margin of 64.88%. During the same quarter in the prior year, the company posted $0.35 earnings per share. On average, equities research analysts forecast that Black Stone Minerals, L.P. will post 1.31 EPS for the current year.

Black Stone Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were issued a $0.375 dividend. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.50 annualized dividend and a yield of 9.84%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 97.40%.

Insiders Place Their Bets

In other Black Stone Minerals news, SVP Carrie Pearson Clark sold 18,532 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $14.84, for a total value of $275,014.88. Following the completion of the sale, the senior vice president now directly owns 116,923 shares in the company, valued at $1,735,137.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $14.84, for a total transaction of $275,014.88. Following the completion of the transaction, the senior vice president now directly owns 116,923 shares in the company, valued at approximately $1,735,137.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas L. Carter, Jr. bought 100,000 shares of the stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at approximately $44,239,767.36. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 19.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Black Stone Minerals

Large investors have recently made changes to their positions in the business. Newbridge Financial Services Group Inc. increased its position in shares of Black Stone Minerals by 279.5% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,036 shares of the oil and gas producer’s stock valued at $48,000 after acquiring an additional 2,236 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Black Stone Minerals during the second quarter valued at approximately $74,000. SG Americas Securities LLC bought a new stake in shares of Black Stone Minerals during the first quarter valued at approximately $102,000. Financial Advocates Investment Management bought a new stake in shares of Black Stone Minerals during the second quarter valued at approximately $159,000. Finally, Hilltop National Bank bought a new stake in shares of Black Stone Minerals during the first quarter valued at approximately $177,000. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

About Black Stone Minerals

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.