Black Stone Minerals (NYSE:BSM) Stock Price Breaks Above Fifty Day Moving Average on Disappointing Earnings

Black Stone Minerals, L.P. (NYSE:BSM) crossed above its 50 day moving average during trading on Tuesday following a stronger than expected earnings report. The stock has a 50 day moving average of $14.77 and traded as high as $14.90. Black Stone Minerals shares last traded at $14.8330, with a volume of 541,895 shares changing hands.

The oil and gas producer reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.26 by ($0.05). Black Stone Minerals had a net margin of 57.23% and a return on equity of 36.85%. The company had revenue of $99.73 million during the quarter, compared to analyst estimates of $116.41 million.

Black Stone Minerals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 9.4%. The ex-dividend date is Friday, November 6th. This is a positive change from Black Stone Minerals’s previous quarterly dividend of $0.32. Black Stone Minerals’s payout ratio is presently 105.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BSM shares. Weiss Ratings raised Black Stone Minerals from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Zacks Research downgraded Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and an average target price of $15.00.

Insiders Place Their Bets

In other Black Stone Minerals news, Director James Whitehead sold 2,127,105 shares of the firm’s stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $13.21, for a total value of $28,099,057.05. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 17.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Black Stone Minerals

A number of large investors have recently made changes to their positions in the stock. Murphy Middleton Hinkle & Parker Inc. purchased a new position in Black Stone Minerals during the third quarter worth approximately $162,000. Ulland Investment Advisors LLC boosted its stake in Black Stone Minerals by 26.6% during the third quarter. Ulland Investment Advisors LLC now owns 30,000 shares of the oil and gas producer’s stock worth $430,000 after buying an additional 6,300 shares during the last quarter. IKE Capital LLC grew its holdings in Black Stone Minerals by 6.2% in the 2nd quarter. IKE Capital LLC now owns 17,000 shares of the oil and gas producer’s stock valued at $237,000 after buying an additional 1,000 shares in the last quarter. Tidal Investments LLC grew its holdings in Black Stone Minerals by 72.8% in the 2nd quarter. Tidal Investments LLC now owns 24,605 shares of the oil and gas producer’s stock valued at $344,000 after buying an additional 10,366 shares in the last quarter. Finally, Van Hulzen Asset Management LLC grew its holdings in Black Stone Minerals by 50.0% in the 2nd quarter. Van Hulzen Asset Management LLC now owns 15,000 shares of the oil and gas producer’s stock valued at $210,000 after buying an additional 5,000 shares in the last quarter. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Black Stone Minerals Trading Up 0.6%

The company has a market capitalization of $3.16 billion, a PE ratio of 14.54 and a beta of 0.14. The company has a fifty day simple moving average of $14.77 and a 200-day simple moving average of $14.50. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.24.

About Black Stone Minerals

Black Stone Minerals, L.P. (NYSE: BSM) is a publicly traded master limited partnership that owns mineral and royalty interests in oil and natural gas properties across the United States. The company’s interests entitle it to receive a portion of production or revenue from properties operated and developed by exploration and production companies, generally without bearing the same level of operating costs as working-interest owners.

Black Stone’s portfolio includes mineral, royalty, overriding royalty and working interests in several major U.S.