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

Shares of Black Stone Minerals, L.P. (NYSE:BSM) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.30 and traded as low as $13.88. Black Stone Minerals shares last traded at $14.0280, with a volume of 246,096 shares changing hands.

Analysts Set New Price Targets

Several research analysts recently weighed in on BSM shares. Piper Sandler increased their price objective on Black Stone Minerals from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Zacks Research downgraded Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Finally, Royal Bank Of Canada began coverage on Black Stone Minerals in a report on Friday, May 29th. They set a “sector perform” rating and a $16.00 price target for the company. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $15.00.

Black Stone Minerals Trading Up 0.6%

The business’s 50-day simple moving average is $13.84 and its two-hundred day simple moving average is $14.30. The firm has a market capitalization of $2.98 billion, a price-to-earnings ratio of 11.05 and a beta of 0.05. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24.

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

Black Stone Minerals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.20 dividend on an annualized basis and a yield of 8.6%. Black Stone Minerals’s payout ratio is presently 94.49%.

Insider Transactions at Black Stone Minerals

In other news, Chairman Thomas L. Carter, Jr. acquired 25,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $13.47 per share, with a total value of $336,750.00. Following the completion of the purchase, the chairman owned 3,662,450 shares of the company’s stock, valued at $49,333,201.50. This represents a 0.69% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Luke Stevens Putman sold 29,386 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $13.75, for a total value of $404,057.50. Following the completion of the sale, the senior vice president owned 702,645 shares in the company, valued at $9,661,368.75. This represents a 4.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have purchased 179,254 shares of company stock valued at $2,407,265 and have sold 69,900 shares valued at $978,357. Corporate insiders own 17.70% of the company’s stock.

Hedge Funds Weigh In On Black Stone Minerals

Institutional investors have recently bought and sold shares of the company. Morgan Stanley lifted its position 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 purchasing an additional 2,582,823 shares in the last quarter. Bank of America Corp DE increased its position in shares of Black Stone Minerals by 2.2% during the third quarter. Bank of America Corp DE now owns 2,600,182 shares of the oil and gas producer’s stock worth $34,166,000 after acquiring an additional 56,368 shares during the period. Penn Davis Mcfarland Inc. increased its position in shares of Black Stone Minerals by 2.5% during the fourth quarter. Penn Davis Mcfarland Inc. now owns 1,967,467 shares of the oil and gas producer’s stock worth $26,148,000 after acquiring an additional 48,677 shares during the period. Northwestern University acquired a new stake in shares of Black Stone Minerals in the fourth quarter valued at $15,671,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Black Stone Minerals by 5.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 963,313 shares of the oil and gas producer’s stock valued at $12,600,000 after acquiring an additional 49,818 shares in the last quarter. 14.49% of the stock is owned by institutional investors and hedge funds.

About Black Stone Minerals

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.