Black Stone Minerals (NYSE:BSM) Hits New 52-Week Low – What’s Next?

Shares of Black Stone Minerals, L.P. (NYSE:BSM) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $13.87 and last traded at $14.04, with a volume of 257329 shares traded. The stock had previously closed at $14.18.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BSM shares. Piper Sandler dropped their price objective on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Monday.

Black Stone Minerals Stock Performance

The company has a 50-day moving average of $15.03 and a 200-day moving average of $15.14. The stock has a market capitalization of $2.92 billion, a price-to-earnings ratio of 8.75 and a beta of 0.96.

Black Stone Minerals (NYSE:BSM) last announced its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. The firm had revenue of $134.86 million during the quarter, compared to the consensus estimate of $117.68 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. During the same quarter in the previous year, the company posted $0.27 EPS. As a group, analysts expect that Black Stone Minerals, L.P. will post 1.32 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 10.82%. The ex-dividend date of this dividend was Friday, November 8th. Black Stone Minerals’s dividend payout ratio (DPR) is 92.59%.

Hedge Funds Weigh In On Black Stone Minerals

Several institutional investors have recently added to or reduced their stakes in the business. Cadence Bank grew its holdings in Black Stone Minerals by 2.6% in the 3rd quarter. Cadence Bank now owns 27,650 shares of the oil and gas producer’s stock valued at $418,000 after buying an additional 689 shares during the period. Redhawk Wealth Advisors Inc. grew its holdings in Black Stone Minerals by 10.1% in the third quarter. Redhawk Wealth Advisors Inc. now owns 16,005 shares of the oil and gas producer’s stock valued at $242,000 after purchasing an additional 1,465 shares during the period. MAS Advisors LLC increased its position in Black Stone Minerals by 5.4% during the second quarter. MAS Advisors LLC now owns 29,179 shares of the oil and gas producer’s stock worth $457,000 after purchasing an additional 1,506 shares during the last quarter. BCS Wealth Management raised its stake in Black Stone Minerals by 15.1% during the third quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock worth $213,000 after purchasing an additional 1,852 shares during the period. Finally, Moors & Cabot Inc. grew its stake in shares of Black Stone Minerals by 3.3% during the 3rd quarter. Moors & Cabot Inc. now owns 93,450 shares of the oil and gas producer’s stock valued at $1,411,000 after buying an additional 3,000 shares during the period. 14.49% of the stock is currently owned by institutional investors and hedge funds.

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.