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

Black Stone Minerals, L.P. (NYSE:BSM)’s stock price 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 trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BSM. Piper Sandler cut their price target on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company 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, December 16th.

Black Stone Minerals Stock Performance

The company 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 simple moving average of $14.80 and a two-hundred day simple moving average of $14.96.

Black Stone Minerals (NYSE:BSM) last released its 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 firm had revenue of $134.86 million during the quarter, compared to analyst estimates of $117.68 million. During the same period in the prior year, the firm posted $0.27 earnings per share. As a group, analysts expect that Black Stone Minerals, L.P. will post 1.32 EPS for the current year.

Black Stone Minerals Announces Dividend

The business 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. 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%.

Institutional Investors Weigh In On Black Stone Minerals

Institutional investors have recently bought and sold shares of the stock. Commonwealth Equity Services LLC raised its stake in Black Stone Minerals by 21.8% during the second quarter. Commonwealth Equity Services LLC now owns 33,915 shares of the oil and gas producer’s stock worth $531,000 after purchasing an additional 6,069 shares during the period. Choreo LLC purchased a new position in shares of Black Stone Minerals in the 2nd quarter worth $205,000. Bahl & Gaynor Inc. boosted its holdings in Black Stone Minerals by 29.6% in the second quarter. Bahl & Gaynor Inc. now owns 17,500 shares of the oil and gas producer’s stock valued at $274,000 after acquiring an additional 4,000 shares during the last quarter. Prevail Innovative Wealth Advisors LLC grew its position in Black Stone Minerals by 25.7% during the second quarter. Prevail Innovative Wealth Advisors LLC now owns 201,336 shares of the oil and gas producer’s stock valued at $3,155,000 after acquiring an additional 41,136 shares during the period. Finally, MAS Advisors LLC increased its stake 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 acquiring an additional 1,506 shares during the last quarter. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

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.