Black Stone Minerals (NYSE:BSM) Stock Price Crosses Below 200 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 $14.96 and traded as low as $14.31. Black Stone Minerals shares last traded at $14.61, with a volume of 340,873 shares changing hands.

Wall Street Analyst Weigh In

BSM has been the subject of a number of recent research reports. Piper Sandler dropped their price objective on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, November 18th. StockNews.com raised 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 Performance

The company has a market cap of $3.16 billion, a P/E ratio of 9.25 and a beta of 0.96. The business’s fifty day moving average is $14.80 and its two-hundred day moving average is $14.95.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. The firm had revenue of $134.86 million during the quarter, compared to analyst estimates 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 in the previous year, the business earned $0.27 earnings per share. Analysts expect that Black Stone Minerals, L.P. will post 1.32 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a dividend of $0.375 per share. The ex-dividend date was Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a yield of 10.01%. Black Stone Minerals’s dividend payout ratio is currently 92.59%.

Institutional Trading of Black Stone Minerals

A number of institutional investors have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Black Stone Minerals by 64.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 33,738 shares of the oil and gas producer’s stock valued at $509,000 after buying an additional 13,204 shares during the last quarter. JPMorgan Chase & Co. purchased a new position in Black Stone Minerals during the third quarter worth approximately $76,000. EP Wealth Advisors LLC purchased a new stake in Black Stone Minerals in the 3rd quarter worth $417,000. Stifel Financial Corp lifted its stake in Black Stone Minerals by 9.6% in the 3rd quarter. Stifel Financial Corp now owns 173,775 shares of the oil and gas producer’s stock valued at $2,624,000 after buying an additional 15,236 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in Black Stone Minerals by 1.7% in the 3rd quarter. HighTower Advisors LLC now owns 404,828 shares of the oil and gas producer’s stock valued at $6,113,000 after purchasing an additional 6,898 shares during the last quarter. 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.