Black Stone Minerals (NYSE:BSM) Stock Price Crosses Below 200 Day Moving Average – Here’s Why

Black Stone Minerals, L.P. (NYSE:BSM)’s stock price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $15.49 and traded as low as $15.13. Black Stone Minerals shares last traded at $15.21, with a volume of 186,008 shares traded.

Analysts Set New Price Targets

Several research firms have recently commented on BSM. Piper Sandler dropped their target price on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. StockNews.com upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Finally, KeyCorp assumed coverage on shares of Black Stone Minerals in a research note on Thursday, June 27th. They issued a “sector weight” rating for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $17.50.

Black Stone Minerals Stock Up 0.3 %

The company has a market cap of $3.20 billion, a PE ratio of 9.88 and a beta of 0.93. The business’s fifty day moving average is $14.78 and its 200-day moving average is $15.49.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.08). Black Stone Minerals had a net margin of 64.88% and a return on equity of 37.93%. The firm had revenue of $109.62 million for the quarter, compared to analysts’ expectations of $124.24 million. During the same period in the prior year, the firm earned $0.35 EPS. Analysts forecast that Black Stone Minerals, L.P. will post 1.31 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 9.86%. The ex-dividend date of this dividend was Friday, August 9th. Black Stone Minerals’s payout ratio is currently 97.40%.

Insider Activity

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of Black Stone Minerals stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $14.12 per share, for a total transaction of $1,412,000.00. Following the completion of the transaction, the chief executive officer now owns 3,133,128 shares of the company’s stock, valued at approximately $44,239,767.36. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of Black Stone Minerals stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $14.12 per share, for a total transaction of $1,412,000.00. Following the completion of the transaction, the chief executive officer now owns 3,133,128 shares of the company’s stock, valued at approximately $44,239,767.36. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Carrie Pearson Clark sold 18,532 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $14.84, for a total transaction of $275,014.88. Following the completion of the sale, the senior vice president now directly owns 116,923 shares in the company, valued at approximately $1,735,137.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 19.60% of the company’s stock.

Institutional Investors Weigh In On Black Stone Minerals

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Cypress Wealth Services LLC purchased a new stake in shares of Black Stone Minerals in the third quarter valued at $324,000. Doliver Advisors LP raised its stake in shares of Black Stone Minerals by 14.2% in the third quarter. Doliver Advisors LP now owns 30,943 shares of the oil and gas producer’s stock valued at $467,000 after acquiring an additional 3,856 shares during the period. Magnolia Capital Advisors LLC purchased a new stake in shares of Black Stone Minerals in the second quarter valued at $2,480,000. Evergreen Capital Management LLC grew its holdings in shares of Black Stone Minerals by 61.1% in the second quarter. Evergreen Capital Management LLC now owns 54,156 shares of the oil and gas producer’s stock worth $849,000 after purchasing an additional 20,545 shares during the last quarter. Finally, MAS Advisors LLC grew its holdings in shares of Black Stone Minerals by 5.4% in the second quarter. MAS Advisors LLC now owns 29,179 shares of the oil and gas producer’s stock worth $457,000 after purchasing an additional 1,506 shares during 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.