Black Stone Minerals (NYSE:BSM) Shares Cross Below 200 Day Moving Average – Here’s Why

Black Stone Minerals, L.P. (NYSE:BSM) shares crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $15.05 and traded as low as $14.03. Black Stone Minerals shares last traded at $14.15, with a volume of 413,209 shares traded.

Analyst Ratings Changes

Several research firms have issued reports on BSM. Piper Sandler cut their target price on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. StockNews.com upgraded Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Monday, December 16th.

Black Stone Minerals Trading Down 0.5 %

The stock’s fifty day simple moving average is $14.89 and its 200 day simple moving average is $15.05. The company has a market cap of $2.98 billion, a price-to-earnings ratio of 8.73 and a beta of 0.96.

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

Black Stone Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 10.60%. Black Stone Minerals’s dividend payout ratio is currently 92.59%.

Hedge Funds Weigh In On Black Stone Minerals

Several hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC acquired a new position in shares of Black Stone Minerals in the third quarter valued at approximately $54,000. JPMorgan Chase & Co. purchased a new stake in shares of Black Stone Minerals during the third quarter worth $76,000. Financial Advocates Investment Management acquired a new stake in shares of Black Stone Minerals in the second quarter valued at $159,000. Choreo LLC purchased a new position in Black Stone Minerals in the second quarter valued at $205,000. Finally, BCS Wealth Management grew its stake 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 worth $213,000 after purchasing an additional 1,852 shares in the last quarter. Institutional investors and hedge funds 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.