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

Shares of Black Stone Minerals, L.P. (NYSE:BSM) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $15.49 and traded as low as $15.13. Black Stone Minerals shares last traded at $15.21, with a volume of 186,008 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. KeyCorp assumed coverage on shares of Black Stone Minerals in a research report on Thursday, June 27th. They set a “sector weight” rating for the company. Piper Sandler cut their price objective on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Finally, StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $17.50.

Black Stone Minerals Trading Up 0.2 %

The business’s 50 day moving average is $14.78 and its two-hundred day moving average is $15.49. The company has a market cap of $3.21 billion, a PE ratio of 9.89 and a beta of 0.93.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.29 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.08). The company had revenue of $109.62 million during the quarter, compared to analysts’ expectations of $124.24 million. Black Stone Minerals had a return on equity of 37.93% and a net margin of 64.88%. During the same quarter in the previous year, the firm earned $0.35 EPS. As a group, equities research analysts predict that Black Stone Minerals, L.P. will post 1.31 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 9.84%. The ex-dividend date was Friday, August 9th. Black Stone Minerals’s payout ratio is currently 97.40%.

Insiders Place Their Bets

In other news, SVP Carrie Pearson Clark sold 18,532 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $14.84, for a total value of $275,014.88. Following the sale, the senior vice president now directly owns 116,923 shares in the company, valued at $1,735,137.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, SVP Carrie Pearson Clark sold 18,532 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $14.84, for a total value of $275,014.88. Following the sale, the senior vice president now directly owns 116,923 shares in the company, valued at $1,735,137.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $14.12 per share, for a total transaction of $1,412,000.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,133,128 shares in the company, valued at $44,239,767.36. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 19.60% of the company’s stock.

Hedge Funds Weigh In On Black Stone Minerals

Several hedge funds have recently added to or reduced their stakes in BSM. Nomura Holdings Inc. purchased a new stake in shares of Black Stone Minerals in the 4th quarter worth approximately $5,635,000. Prevail Innovative Wealth Advisors LLC increased its stake in shares of Black Stone Minerals by 25.7% in the second quarter. Prevail Innovative Wealth Advisors LLC now owns 201,336 shares of the oil and gas producer’s stock worth $3,155,000 after acquiring an additional 41,136 shares during the period. Magnolia Capital Advisors LLC acquired a new stake in shares of Black Stone Minerals in the second quarter worth $2,480,000. GraniteShares Advisors LLC grew its position in Black Stone Minerals by 14.2% during the second quarter. GraniteShares Advisors LLC now owns 121,795 shares of the oil and gas producer’s stock valued at $1,909,000 after buying an additional 15,188 shares during the period. Finally, Tidal Investments LLC grew its position in Black Stone Minerals by 8.4% during the first quarter. Tidal Investments LLC now owns 90,566 shares of the oil and gas producer’s stock valued at $1,447,000 after buying an additional 7,006 shares during the period. 14.49% of the stock is currently owned by institutional investors.

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.