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

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) passed 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 trading hands.

Analyst Ratings Changes

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

Black Stone Minerals Stock Performance

The firm has a market cap of $3.16 billion, a price-to-earnings ratio of 9.25 and a beta of 0.96. The stock's fifty day moving average is $14.80 and its two-hundred day moving average is $14.96.

Black Stone Minerals (NYSE:BSM - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts' consensus estimates 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 period last year, the company earned $0.27 earnings per share. Sell-side analysts predict that Black Stone Minerals, L.P. will post 1.32 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

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

Hedge Funds Weigh In On Black Stone Minerals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BSM. Larson Financial Group LLC purchased a new position in Black Stone Minerals during the 3rd quarter worth approximately $54,000. JPMorgan Chase & Co. purchased a new stake in Black Stone Minerals in the 3rd quarter worth approximately $76,000. Choreo LLC acquired a new stake in shares of Black Stone Minerals during the 2nd quarter valued at $205,000. BCS Wealth Management grew its holdings in shares of Black Stone Minerals by 15.1% during the 3rd 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 in the last quarter. Finally, Indie Asset Partners LLC purchased a new stake in shares of Black Stone Minerals during the third quarter worth $234,000. 14.49% of the stock is owned by institutional investors.

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.