Black Stone Minerals (NYSE:BSM) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Black Stone Minerals, L.P. (NYSE:BSM) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $14.96 and traded as low as $14.31. Black Stone Minerals shares last traded at $14.61, with a volume of 340,873 shares.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Monday, December 16th. Piper Sandler lowered their target price on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th.

Black Stone Minerals Stock Up 0.8 %

The stock has a market capitalization of $3.08 billion, a price-to-earnings ratio of 9.02 and a beta of 0.96. The company has a fifty day moving average of $14.80 and a two-hundred day moving average of $14.96.

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

Black Stone Minerals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a dividend of $0.375 per share. The ex-dividend date was Friday, November 8th. This represents a $1.50 annualized dividend and a dividend yield of 10.27%. Black Stone Minerals’s payout ratio is currently 92.59%.

Hedge Funds Weigh In On Black Stone Minerals

Large investors have recently made changes to their positions in the stock. Larson Financial Group LLC acquired a new stake in shares of Black Stone Minerals in the 3rd quarter worth approximately $54,000. JPMorgan Chase & Co. purchased a new stake in shares of Black Stone Minerals in the 3rd quarter worth about $76,000. Choreo LLC acquired a new stake in Black Stone Minerals in the 2nd quarter valued at about $205,000. BCS Wealth Management increased its holdings in Black Stone Minerals by 15.1% during the 3rd quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock valued at $213,000 after acquiring an additional 1,852 shares in the last quarter. Finally, Indie Asset Partners LLC acquired a new position in Black Stone Minerals during the third quarter worth about $234,000. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Company Profile

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.