Black Stone Minerals (NYSE:BSM) Shares Pass Below 200 Day Moving Average – What’s Next?

Black Stone Minerals, L.P. (NYSE:BSM) passed 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 trading hands.

Analyst Upgrades and Downgrades

BSM has been the subject of several recent research reports. StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Monday, December 16th. Piper Sandler dropped their price objective on shares of 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.

Black Stone Minerals Stock Performance

The stock has a 50-day moving average of $14.80 and a two-hundred day moving average of $14.96. The company has a market cap of $3.08 billion, a P/E ratio of 9.02 and a beta of 0.96.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. The firm had revenue of $134.86 million during the quarter, compared to the consensus estimate 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 company earned $0.27 earnings per share. Research analysts predict that Black Stone Minerals, L.P. will post 1.32 EPS for the current year.

Black Stone Minerals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.375 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.50 annualized dividend and a yield of 10.27%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 92.59%.

Institutional Investors Weigh In On Black Stone Minerals

Several institutional investors and hedge funds have recently made changes to their positions in BSM. Larson Financial Group LLC bought a new position in Black Stone Minerals in the 3rd quarter valued at approximately $54,000. JPMorgan Chase & Co. purchased a new position in shares of Black Stone Minerals in the third quarter worth $76,000. Choreo LLC bought a new position in shares of Black Stone Minerals during the second quarter valued at $205,000. BCS Wealth Management boosted its position in shares of Black Stone Minerals by 15.1% during the third quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock valued at $213,000 after buying an additional 1,852 shares during the last quarter. Finally, Indie Asset Partners LLC bought a new stake in Black Stone Minerals in the 3rd quarter worth about $234,000. Institutional investors 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.