Black Stone Minerals (NYSE:BSM) Sets New 52-Week Low - Here's What Happened

Shares of Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) reached a new 52-week low during trading 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. StockNews.com downgraded shares of Black Stone Minerals from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Royal Bank of Canada upgraded shares of Black Stone Minerals to a "hold" rating in a research report on Friday, March 14th. Finally, Piper Sandler upped their target price on Black Stone Minerals from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, March 6th.

Black Stone Minerals Stock Up 8.6 %

The stock has a market cap of $3.01 billion, a price-to-earnings ratio of 8.79 and a beta of 0.52. The company has a 50 day simple moving average of $14.89 and a 200 day simple moving average of $14.92.

Black Stone Minerals (NYSE:BSM - Get Free Report) last released 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 return on equity of 41.49% and a net margin of 67.54%. The company had revenue of $83.73 million for the quarter, compared to analyst estimates of $115.46 million. As a group, analysts predict that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current fiscal year.

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Black Stone Minerals Dividend Announcement

The company also recently disclosed 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 annualized dividend and a dividend yield of 10.53%. The ex-dividend date was Tuesday, February 18th. Black Stone Minerals's dividend payout ratio (DPR) is 130.43%.

Hedge Funds Weigh In On Black Stone Minerals

A number of institutional investors and hedge funds have recently bought and sold shares of BSM. Annandale Capital LLC grew its holdings in shares of Black Stone Minerals by 5.5% during the fourth quarter. Annandale Capital LLC now owns 14,382 shares of the oil and gas producer's stock worth $210,000 after purchasing an additional 747 shares during the last quarter. Doliver Advisors LP grew its holdings in Black Stone Minerals by 2.6% during the 1st quarter. Doliver Advisors LP now owns 31,734 shares of the oil and gas producer's stock worth $485,000 after acquiring an additional 791 shares during the last quarter. Vident Advisory LLC increased its position in Black Stone Minerals by 2.7% in the 4th quarter. Vident Advisory LLC now owns 31,738 shares of the oil and gas producer's stock valued at $463,000 after acquiring an additional 846 shares during the period. Jones Financial Companies Lllp increased its position in Black Stone Minerals by 100.0% in the 4th quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer's stock valued at $29,000 after acquiring an additional 1,000 shares during the period. Finally, Virtus ETF Advisers LLC raised its stake in shares of Black Stone Minerals by 14.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 11,838 shares of the oil and gas producer's stock valued at $173,000 after acquiring an additional 1,463 shares during the last quarter. Institutional investors and hedge funds own 14.49% of the company's stock.

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.