Black Stone Minerals (NYSE:BSM) Share Price Passes Below 200-Day Moving Average - Should You Sell?

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $14.92 and traded as low as $14.90. Black Stone Minerals shares last traded at $14.92, with a volume of 405,716 shares trading hands.

Analysts Set New Price Targets

BSM has been the subject of several recent research reports. Piper Sandler decreased their target price on shares of 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. StockNews.com upgraded shares of Black Stone Minerals from a "hold" rating to a "buy" rating in a report on Monday, December 16th.

Black Stone Minerals Stock Down 2.2 %

The business has a 50-day simple moving average of $14.84 and a 200-day simple moving average of $14.91. The stock has a market cap of $3.04 billion, a P/E ratio of 8.90 and a beta of 0.96.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. The business had revenue of $134.86 million during the quarter, compared to the consensus estimate 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 period in the prior year, the firm earned $0.27 EPS. On average, analysts predict that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Black Stone Minerals

Institutional investors have recently made changes to their positions in the business. Fiducient Advisors LLC acquired a new stake in Black Stone Minerals in the 3rd quarter valued at approximately $12,253,000. Penn Davis Mcfarland Inc. increased its position in Black Stone Minerals by 18.1% during the fourth quarter. Penn Davis Mcfarland Inc. now owns 1,601,182 shares of the oil and gas producer's stock worth $23,377,000 after acquiring an additional 245,009 shares during the period. Horizon Kinetics Asset Management LLC raised its stake in Black Stone Minerals by 65.9% during 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. International Assets Investment Management LLC bought a new stake in Black Stone Minerals in the 3rd quarter valued at $8,240,000. Finally, ING Groep NV grew its position in Black Stone Minerals by 5.9% in the 3rd quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer's stock worth $9,859,000 after purchasing an additional 36,300 shares during the last quarter. 14.49% of the stock is currently owned by institutional investors.

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.