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

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.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BSM. Piper Sandler decreased their price objective on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a report 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 Up 0.8 %

The company has a fifty day moving average price of $14.80 and a 200 day moving average price of $14.96. The stock has a market cap of $3.08 billion, a PE ratio of 9.02 and a beta of 0.96.

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

Black Stone Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a yield of 10.27%. Black Stone Minerals’s dividend payout ratio is currently 92.59%.

Institutional Investors Weigh In On Black Stone Minerals

Large investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new stake in shares of Black Stone Minerals during the third quarter worth about $54,000. JPMorgan Chase & Co. bought a new position in Black Stone Minerals during the 3rd quarter valued at approximately $76,000. Choreo LLC purchased a new stake in Black Stone Minerals in the 2nd quarter worth approximately $205,000. BCS Wealth Management grew its position in shares of Black Stone Minerals by 15.1% in the 3rd quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock worth $213,000 after buying an additional 1,852 shares during the last quarter. Finally, Indie Asset Partners LLC purchased a new position in shares of Black Stone Minerals during the third quarter valued at approximately $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.