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

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 changing hands.

Wall Street Analyst Weigh In

A number of brokerages have commented on BSM. StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. Piper Sandler lowered 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.

Black Stone Minerals Stock Performance

The company’s fifty day moving average is $14.85 and its two-hundred day moving average is $15.03. The stock 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 announced its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts’ consensus estimates 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 period last year, the business posted $0.27 EPS. Analysts predict that Black Stone Minerals, L.P. will post 1.32 EPS for the current year.

Black Stone Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 10.60%. The ex-dividend date of this dividend was Friday, November 8th. Black Stone Minerals’s payout ratio is currently 92.59%.

Hedge Funds Weigh In On Black Stone Minerals

Institutional investors have recently modified their holdings of the business. Larson Financial Group LLC purchased a new position in Black Stone Minerals in the third quarter valued at $54,000. JPMorgan Chase & Co. purchased a new position in shares of Black Stone Minerals in the 3rd quarter valued at about $76,000. Financial Advocates Investment Management purchased a new stake in shares of Black Stone Minerals during the second quarter worth approximately $159,000. Choreo LLC purchased a new position in Black Stone Minerals in the second quarter worth approximately $205,000. Finally, BCS Wealth Management grew 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 worth $213,000 after acquiring an additional 1,852 shares in the last quarter. Institutional investors and hedge funds own 14.49% of the company’s stock.

About Black Stone Minerals

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.