Black Stone Minerals (NYSE:BSM) Share Price Crosses Above 50-Day Moving Average – Here’s Why

Shares of Black Stone Minerals, L.P. (NYSE:BSM) passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $13.84 and traded as high as $14.44. Black Stone Minerals shares last traded at $14.29, with a volume of 224,199 shares changing hands.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Royal Bank Of Canada initiated coverage on Black Stone Minerals in a research note on Friday, May 29th. They set a “sector perform” rating and a $16.00 price target for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Finally, Zacks Research downgraded shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $15.00.

Black Stone Minerals Price Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 11.25 and a beta of 0.04. The company has a 50-day moving average of $13.84 and a 200-day moving average of $14.31.

Black Stone Minerals (NYSE:BSM) last announced its earnings results on Monday, May 4th. The oil and gas producer reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.19). The company had revenue of $59.36 million for the quarter, compared to analyst estimates of $107.38 million. Black Stone Minerals had a net margin of 61.67% and a return on equity of 42.40%. As a group, equities research analysts expect that Black Stone Minerals, L.P. will post 0.97 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 8.4%. The ex-dividend date was Friday, May 8th. Black Stone Minerals’s dividend payout ratio is currently 94.49%.

Insider Buying and Selling

In related news, Director D Mark Dewalch acquired 36,363 shares of the company’s stock in a transaction that occurred on Monday, June 1st. The stock was purchased at an average price of $13.62 per share, for a total transaction of $495,264.06. Following the transaction, the director owned 631,248 shares in the company, valued at $8,597,597.76. This trade represents a 6.11% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ashley J. Longmaid sold 11,128 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $13.45, for a total transaction of $149,671.60. Following the completion of the transaction, the director directly owned 137,335 shares of the company’s stock, valued at $1,847,155.75. The trade was a 7.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have acquired 179,254 shares of company stock valued at $2,407,265 over the last three months. Insiders own 17.70% of the company’s stock.

Institutional Investors Weigh In On Black Stone Minerals

Several hedge funds have recently modified their holdings of BSM. Morgan Stanley grew its holdings in shares of Black Stone Minerals by 57.1% during the fourth quarter. Morgan Stanley now owns 7,107,673 shares of the oil and gas producer’s stock worth $94,461,000 after buying an additional 2,582,823 shares in the last quarter. Northwestern University acquired a new position in shares of Black Stone Minerals in the fourth quarter valued at approximately $15,671,000. Saber Capital Managment LLC acquired a new position in shares of Black Stone Minerals in the fourth quarter valued at approximately $8,389,000. Forum Financial Management LP purchased a new position in shares of Black Stone Minerals during the fourth quarter valued at approximately $3,987,000. Finally, CIBC Bancorp USA Inc. purchased a new position in shares of Black Stone Minerals during the third quarter valued at approximately $3,512,000. 14.49% of the stock is owned by institutional investors and hedge funds.

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.