Black Stone Minerals (NYSE:BSM) Stock Crosses Below 200-Day Moving Average - Here's What Happened

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-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.

Wall Street Analyst Weigh In

BSM has been the topic of several recent analyst reports. StockNews.com upgraded shares of Black Stone Minerals from a "hold" rating to a "buy" rating in a report on Monday, December 16th. Piper Sandler cut their price objective on Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating for the company in a research report on Monday, November 18th.

Black Stone Minerals Trading Up 2.5 %

The stock has a market capitalization of $3.16 billion, a P/E ratio of 9.25 and a beta of 0.96. The business's fifty day simple moving average is $14.80 and its two-hundred day simple moving average is $14.96.

Black Stone Minerals (NYSE:BSM - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.06. The company had revenue of $134.86 million for the quarter, compared to analyst estimates 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 firm earned $0.27 EPS. On average, equities research analysts anticipate that Black Stone Minerals, L.P. will post 1.32 earnings per share for the current year.

Black Stone Minerals Announces Dividend

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

Institutional Trading of Black Stone Minerals

Several institutional investors have recently bought and sold shares of BSM. Horizon Kinetics Asset Management LLC raised its position in Black Stone Minerals by 65.9% in the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 275,638 shares of the oil and gas producer's stock valued at $4,162,000 after purchasing an additional 109,500 shares during the last quarter. Magnolia Capital Advisors LLC bought a new position in shares of Black Stone Minerals in the second quarter valued at about $2,480,000. International Assets Investment Management LLC acquired a new position in Black Stone Minerals during the 3rd quarter worth about $8,240,000. ING Groep NV grew its holdings in Black Stone Minerals by 5.9% during the 3rd quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer's stock worth $9,859,000 after acquiring an additional 36,300 shares during the last quarter. Finally, Fiducient Advisors LLC acquired a new stake in Black Stone Minerals in the 3rd quarter valued at about $12,253,000. Institutional investors and hedge funds 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.