Black Stone Minerals (NYSE:BSM) Sets New 52-Week Low – Here’s Why

Black Stone Minerals, L.P. (NYSE:BSM)’s stock price reached a new 52-week low on Friday . The stock traded as low as $13.72 and last traded at $13.85, with a volume of 908257 shares changing hands. The stock had previously closed at $14.91.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Royal Bank of Canada upgraded Black Stone Minerals to a “hold” rating in a research report on Friday, March 14th. Piper Sandler boosted their price objective on shares of Black Stone Minerals from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Finally, StockNews.com downgraded shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Black Stone Minerals Stock Down 6.4 %

The company’s fifty day moving average price is $15.01 and its two-hundred day moving average price is $14.96. The company has a market cap of $2.95 billion, a price-to-earnings ratio of 8.62 and a beta of 0.92.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.21). Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The business had revenue of $83.73 million during the quarter, compared to analyst estimates of $115.46 million. On average, equities research analysts predict that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 18th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.74%. The ex-dividend date of this dividend was Tuesday, February 18th. Black Stone Minerals’s payout ratio is presently 130.43%.

Hedge Funds Weigh In On Black Stone Minerals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hilltop Holdings Inc. lifted its position in Black Stone Minerals by 47.3% during the third quarter. Hilltop Holdings Inc. now owns 19,300 shares of the oil and gas producer’s stock worth $291,000 after acquiring an additional 6,200 shares during the last quarter. HighTower Advisors LLC grew its holdings 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 buying an additional 6,898 shares in the last quarter. Stifel Financial Corp increased its position in Black Stone Minerals by 9.6% during the 3rd quarter. Stifel Financial Corp now owns 173,775 shares of the oil and gas producer’s stock worth $2,624,000 after buying an additional 15,236 shares during the period. EP Wealth Advisors LLC bought a new stake in shares of Black Stone Minerals in the third quarter valued at about $417,000. Finally, JPMorgan Chase & Co. acquired a new position in shares of Black Stone Minerals in the third quarter valued at about $76,000. 14.49% of the stock is 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.