Black Stone Minerals (NYSE:BSM) Sets New 12-Month Low – Here’s What Happened

Black Stone Minerals, L.P. (NYSE:BSM)’s stock price reached a new 52-week low during trading on Friday . The company traded as low as $13.72 and last traded at $13.85, with a volume of 908257 shares. The stock had previously closed at $14.91.

Analysts Set New Price Targets

Several research firms have recently weighed in on BSM. Piper Sandler lifted their target price on shares of Black Stone Minerals from $14.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. StockNews.com downgraded shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. Finally, Royal Bank of Canada raised shares of Black Stone Minerals to a “hold” rating in a research note on Friday, March 14th.

Black Stone Minerals Price Performance

The stock has a market cap of $2.95 billion, a P/E ratio of 8.62 and a beta of 0.52. The firm’s 50 day moving average price is $14.99 and its 200-day moving average price is $14.95.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.21). The business had revenue of $83.73 million for the quarter, compared to the consensus estimate of $115.46 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. On average, analysts expect that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.50 dividend on an annualized basis and a yield of 10.74%. Black Stone Minerals’s dividend payout ratio is presently 130.43%.

Institutional Trading of Black Stone Minerals

A number of hedge funds have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC grew its stake in shares of Black Stone Minerals by 16.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,994 shares of the oil and gas producer’s stock valued at $350,000 after purchasing an additional 3,460 shares during the period. Wealthedge Investment Advisors LLC bought a new position in Black Stone Minerals in the fourth quarter worth approximately $505,000. Alpha Wealth Funds LLC purchased a new position in shares of Black Stone Minerals during the 4th quarter worth $359,000. Vident Advisory LLC grew its position in shares of Black Stone Minerals by 2.7% during the 4th quarter. Vident Advisory LLC now owns 31,738 shares of the oil and gas producer’s stock valued at $463,000 after acquiring an additional 846 shares during the period. Finally, State of Wyoming purchased a new stake in shares of Black Stone Minerals in the 4th quarter worth $107,000. Hedge funds and other institutional investors own 14.49% of the company’s stock.

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.