Black Stone Minerals (NYSE:BSM) Shares Cross Above 50 Day Moving Average of $15.85

Black Stone Minerals, L.P. (NYSE:BSM)’s stock price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $15.85 and traded as high as $16.68. Black Stone Minerals shares last traded at $16.67, with a volume of 757,491 shares trading hands.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BSM. Piper Sandler boosted their target price on Black Stone Minerals from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Stifel Nicolaus cut their target price on shares of Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd.

Black Stone Minerals Stock Performance

The firm has a market cap of $3.51 billion, a P/E ratio of 8.91 and a beta of 0.91. The business has a 50-day simple moving average of $15.85 and a 200 day simple moving average of $16.34.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.65 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.15. The business had revenue of $190.84 million for the quarter, compared to analysts’ expectations of $142.67 million. Black Stone Minerals had a net margin of 70.46% and a return on equity of 42.38%. During the same quarter in the previous year, the business posted $0.71 earnings per share. On average, research analysts expect that Black Stone Minerals, L.P. will post 1.44 EPS for the current year.

Black Stone Minerals Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Friday, May 10th will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 9.00%. The ex-dividend date of this dividend is Thursday, May 9th. Black Stone Minerals’s payout ratio is currently 101.60%.

Insider Buying and Selling at Black Stone Minerals

In other news, Director D Mark Dewalch bought 3,250 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was purchased at an average price of $15.47 per share, with a total value of $50,277.50. Following the transaction, the director now owns 320,436 shares of the company’s stock, valued at $4,957,144.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 19.60% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Bogart Wealth LLC bought a new position in shares of Black Stone Minerals during the first quarter valued at approximately $26,000. NBC Securities Inc. bought a new position in Black Stone Minerals in the 3rd quarter worth about $29,000. Venturi Wealth Management LLC bought a new position in shares of Black Stone Minerals in the third quarter worth approximately $31,000. HBC Financial Services PLLC bought a new stake in shares of Black Stone Minerals during the fourth quarter valued at approximately $31,000. Finally, Clear Street Markets LLC purchased a new position in Black Stone Minerals in the 3rd quarter worth approximately $40,000. 14.49% of the stock is owned by hedge funds and other 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.