Black Stone Minerals (NYSE:BSM) Share Price Passes Below Two Hundred Day Moving Average – What’s Next?

Black Stone Minerals, L.P. (NYSE:BSM)’s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.92 and traded as low as $14.90. Black Stone Minerals shares last traded at $14.92, with a volume of 405,716 shares changing hands.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Piper Sandler lowered their target price on shares of 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 upgraded 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 Down 2.1 %

The firm has a market capitalization of $3.14 billion, a PE ratio of 9.21 and a beta of 0.96. The company has a 50-day moving average of $14.86 and a 200 day moving average of $14.92.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $117.68 million. During the same quarter last year, the business posted $0.27 earnings per share. As a group, equities analysts anticipate that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Institutional Investors Weigh In On Black Stone Minerals

Hedge funds have recently made changes to their positions in the company. Magnolia Capital Advisors LLC purchased a new stake in shares of Black Stone Minerals in the 2nd quarter worth approximately $2,480,000. Doliver Advisors LP grew its stake in shares of Black Stone Minerals by 14.2% in the third quarter. Doliver Advisors LP now owns 30,943 shares of the oil and gas producer’s stock worth $467,000 after acquiring an additional 3,856 shares during the last quarter. Cypress Wealth Services LLC bought a new position in shares of Black Stone Minerals during the third quarter valued at $324,000. Redhawk Wealth Advisors Inc. raised its position in shares of Black Stone Minerals by 10.1% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 16,005 shares of the oil and gas producer’s stock worth $242,000 after purchasing an additional 1,465 shares during the last quarter. Finally, BCS Wealth Management boosted its stake in Black Stone Minerals by 15.1% in the 3rd 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 in the last quarter. 14.49% of the stock is currently owned by 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.