Black Stone Minerals (NYSE:BSM) Shares Pass Below 200-Day Moving Average – Time to Sell?

Shares of Black Stone Minerals, L.P. (NYSE:BSM) crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

Analyst Ratings Changes

BSM has been the subject of a number of research analyst reports. StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Monday, December 16th. Piper Sandler dropped their target price on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th.

Black Stone Minerals Trading Up 2.5 %

The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 9.25 and a beta of 0.96. The stock’s 50 day moving average price is $14.80 and its 200 day moving average price is $14.95.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results 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. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. The firm had revenue of $134.86 million for the quarter, compared to analyst estimates of $117.68 million. During the same quarter in the previous year, the firm earned $0.27 EPS. On average, research analysts expect that Black Stone Minerals, L.P. will post 1.32 earnings per share for the current year.

Black Stone Minerals Announces Dividend

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

Hedge Funds Weigh In On Black Stone Minerals

Several institutional investors and hedge funds have recently modified their holdings of BSM. Fiducient Advisors LLC acquired a new stake in shares of Black Stone Minerals during the 3rd quarter worth approximately $12,253,000. ING Groep NV increased its holdings in shares of Black Stone Minerals by 5.9% during the third quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer’s stock worth $9,859,000 after buying an additional 36,300 shares in the last quarter. Citigroup Inc. grew its position in Black Stone Minerals by 2.3% during the 3rd quarter. Citigroup Inc. now owns 470,915 shares of the oil and gas producer’s stock worth $7,111,000 after acquiring an additional 10,465 shares during the last quarter. HighTower Advisors LLC increased its holdings in Black Stone Minerals by 1.7% in the 3rd quarter. HighTower Advisors LLC now owns 404,828 shares of the oil and gas producer’s stock worth $6,113,000 after purchasing an additional 6,898 shares in the last quarter. Finally, Horizon Kinetics Asset Management LLC boosted its stake in shares of Black Stone Minerals by 65.9% during the third 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 in the last quarter. 14.49% of the stock is currently owned by institutional investors and hedge funds.

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.