Black Stone Minerals (NYSE:BSM) Stock Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Black Stone Minerals, L.P. (NYSE:BSM) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $14.30 and traded as low as $13.88. Black Stone Minerals shares last traded at $14.0280, with a volume of 246,096 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Royal Bank Of Canada assumed coverage on Black Stone Minerals in a research note on Friday, May 29th. They issued a “sector perform” rating and a $16.00 price objective for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Black Stone Minerals in a research report on Friday, April 24th. Zacks Research downgraded Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Finally, Piper Sandler raised their price target on shares of Black Stone Minerals from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Reduce” and an average price target of $15.00.

Black Stone Minerals Stock Performance

The firm has a market capitalization of $2.98 billion, a PE ratio of 11.05 and a beta of 0.05. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. The company’s fifty day simple moving average is $13.84 and its 200 day simple moving average is $14.30.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, May 4th. The oil and gas producer reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.19). The business had revenue of $59.36 million during the quarter, compared to analysts’ expectations of $107.38 million. Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%. As a group, equities research analysts expect that Black Stone Minerals, L.P. will post 0.97 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.20 dividend on an annualized basis and a yield of 8.6%. Black Stone Minerals’s payout ratio is presently 94.49%.

Insider Buying and Selling at Black Stone Minerals

In related news, Chairman Thomas L. Carter, Jr. bought 19,154 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were purchased at an average price of $13.48 per share, for a total transaction of $258,195.92. Following the completion of the transaction, the chairman directly owned 3,681,604 shares in the company, valued at approximately $49,628,021.92. The trade was a 0.52% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ashley J. Longmaid sold 11,128 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $13.45, for a total value of $149,671.60. Following the completion of the transaction, the director directly owned 137,335 shares of the company’s stock, valued at $1,847,155.75. The trade was a 7.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders acquired 179,254 shares of company stock worth $2,407,265 and sold 69,900 shares worth $978,357. 17.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Axiom Investment Management LLC purchased a new stake in shares of Black Stone Minerals in the first quarter worth about $37,000. Quantinno Capital Management LP increased its holdings in Black Stone Minerals by 3.0% during the 1st quarter. Quantinno Capital Management LP now owns 42,516 shares of the oil and gas producer’s stock worth $643,000 after acquiring an additional 1,228 shares during the period. Aristides Capital LLC lifted its stake in Black Stone Minerals by 19.2% in the 1st quarter. Aristides Capital LLC now owns 42,330 shares of the oil and gas producer’s stock worth $640,000 after purchasing an additional 6,814 shares in the last quarter. SteelPeak Wealth LLC purchased a new stake in Black Stone Minerals in the 1st quarter worth approximately $166,000. Finally, Summit Securities Group LLC bought a new position in Black Stone Minerals in the 1st quarter valued at $83,000. Institutional investors own 14.49% of the company’s stock.

About Black Stone Minerals

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.