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

Shares of Black Stone Minerals, L.P. (NYSE:BSM) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BSM shares. Piper Sandler lowered their price objective on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company 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 report on Monday, December 16th.

Black Stone Minerals Trading Up 2.5 %

The stock has a 50-day simple moving average of $14.80 and a 200 day simple moving average of $14.95. The stock has a market capitalization of $3.16 billion, a price-to-earnings ratio of 9.25 and a beta of 0.96.

Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. The firm had revenue of $134.86 million during the quarter, compared to analyst estimates 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 quarter in the previous year, the business earned $0.27 EPS. Sell-side analysts expect that Black Stone Minerals, L.P. will post 1.32 earnings per share for the current fiscal year.

Black Stone Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 10.01%. The ex-dividend date of this dividend was Friday, November 8th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 92.59%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC acquired a new stake in Black Stone Minerals in the 3rd quarter valued at about $54,000. JPMorgan Chase & Co. acquired a new position in Black Stone Minerals during the 3rd quarter worth $76,000. Choreo LLC bought a new position in Black Stone Minerals in the 2nd quarter valued at $205,000. BCS Wealth Management increased its stake 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 valued at $213,000 after buying an additional 1,852 shares during the period. Finally, Indie Asset Partners LLC bought a new stake in shares of Black Stone Minerals during the third quarter worth $234,000. 14.49% of the stock is currently owned by institutional investors and hedge funds.

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.