Black Stone Minerals (NYSE:BSM) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

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 changing hands.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Piper Sandler reduced their target price 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 report on Monday, December 16th.

Black Stone Minerals Stock Up 2.5 %

The firm’s 50-day simple moving average is $14.80 and its 200-day simple moving average is $14.95. The firm has a market capitalization of $3.16 billion, a PE ratio of 9.25 and a beta of 0.96.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.41 EPS 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 net margin of 67.54% and a return on equity of 41.49%. During the same period in the prior year, the firm posted $0.27 earnings per share. On average, equities research analysts forecast 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 disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a dividend of $0.375 per share. The ex-dividend date was Friday, November 8th. This represents a $1.50 annualized dividend and a yield of 10.01%. Black Stone Minerals’s payout ratio is 92.59%.

Institutional Investors Weigh In On Black Stone Minerals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC raised its stake in shares of Black Stone Minerals by 21.8% in the second quarter. Commonwealth Equity Services LLC now owns 33,915 shares of the oil and gas producer’s stock worth $531,000 after purchasing an additional 6,069 shares during the last quarter. Choreo LLC bought a new position in Black Stone Minerals in the second quarter worth approximately $205,000. Bahl & Gaynor Inc. lifted its position in Black Stone Minerals by 29.6% during the second quarter. Bahl & Gaynor Inc. now owns 17,500 shares of the oil and gas producer’s stock valued at $274,000 after purchasing an additional 4,000 shares in the last quarter. Prevail Innovative Wealth Advisors LLC increased its holdings in Black Stone Minerals by 25.7% in the 2nd 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 in the last quarter. Finally, MAS Advisors LLC lifted its stake in shares of Black Stone Minerals by 5.4% during the 2nd quarter. MAS Advisors LLC now owns 29,179 shares of the oil and gas producer’s stock valued at $457,000 after buying an additional 1,506 shares in the last quarter. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Company Profile

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.