Black Stone Minerals (NYSE:BSM) Reaches New 12-Month Low - Here's Why

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) shares reached a new 52-week low on Tuesday . The company traded as low as $13.87 and last traded at $14.04, with a volume of 257329 shares traded. The stock had previously closed at $14.18.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. StockNews.com raised Black Stone Minerals from a "hold" rating to a "buy" rating in a report on Monday. Piper Sandler cut their price target on 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.

Black Stone Minerals Price Performance

The company has a market cap of $2.97 billion, a PE ratio of 8.56 and a beta of 0.96. The firm has a 50-day simple moving average of $15.03 and a two-hundred day simple moving average of $15.14.

Black Stone Minerals (NYSE:BSM - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $134.86 million during 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 quarter last year, the business posted $0.27 EPS. Equities research analysts forecast that Black Stone Minerals, L.P. will post 1.32 EPS for the current year.

Black Stone Minerals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 10.64%. The ex-dividend date was Friday, November 8th. Black Stone Minerals's dividend payout ratio (DPR) is 92.59%.

Hedge Funds Weigh In On Black Stone Minerals

Institutional investors have recently added to or reduced their stakes in the business. Cadence Bank grew its holdings in Black Stone Minerals by 2.6% in the 3rd quarter. Cadence Bank now owns 27,650 shares of the oil and gas producer's stock valued at $418,000 after buying an additional 689 shares during the period. Redhawk Wealth Advisors Inc. boosted its holdings in Black Stone Minerals by 10.1% in the third quarter. Redhawk Wealth Advisors Inc. now owns 16,005 shares of the oil and gas producer's stock valued at $242,000 after acquiring an additional 1,465 shares during the last quarter. MAS Advisors LLC boosted its holdings in 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 valued at $457,000 after acquiring an additional 1,506 shares during the last quarter. BCS Wealth Management grew its position in Black Stone Minerals by 15.1% during the third quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer's stock valued at $213,000 after acquiring an additional 1,852 shares during the period. Finally, Moors & Cabot Inc. increased its stake in Black Stone Minerals by 3.3% during the third quarter. Moors & Cabot Inc. now owns 93,450 shares of the oil and gas producer's stock worth $1,411,000 after acquiring an additional 3,000 shares during the last quarter. 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.