Black Stone Minerals (NYSE:BSM) Shares Break Above 50-Day Moving Average – Here’s Why

Black Stone Minerals, L.P. (NYSE:BSM) crossed above its fifty day moving average during trading on Friday. The stock has a fifty day moving average of $14.68 and traded as high as $14.89. Black Stone Minerals shares last traded at $14.7950, with a volume of 215,509 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BSM. Weiss Ratings upgraded Black Stone Minerals from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Zacks Research raised shares of Black Stone Minerals from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Five equities research analysts have rated the stock with a Hold rating. According to MarketBeat, Black Stone Minerals has an average rating of “Hold” and a consensus price target of $15.00.

Black Stone Minerals Trading Up 0.3%

The stock has a market cap of $3.15 billion, a PE ratio of 12.23 and a beta of 0.15. The company’s 50-day moving average price is $14.68 and its 200 day moving average price is $14.30. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.76 and a current ratio of 3.76.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, August 3rd. The oil and gas producer reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.24. Black Stone Minerals had a net margin of 61.72% and a return on equity of 41.48%. The company had revenue of $148.97 million for the quarter, compared to analysts’ expectations of $108.28 million. On average, sell-side analysts forecast that Black Stone Minerals, L.P. will post 0.95 EPS for the current fiscal year.

Black Stone Minerals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th were given a $0.32 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.28 annualized dividend and a yield of 8.7%. This is a boost from Black Stone Minerals’s previous quarterly dividend of $0.30. Black Stone Minerals’s dividend payout ratio is 105.79%.

Insider Activity at Black Stone Minerals

In other news, Director James Whitehead sold 2,127,105 shares of the company’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $13.21, for a total transaction of $28,099,057.05. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 17.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Black Stone Minerals

Institutional investors have recently added to or reduced their stakes in the business. IKE Capital LLC raised its holdings in Black Stone Minerals by 6.2% during the second quarter. IKE Capital LLC now owns 17,000 shares of the oil and gas producer’s stock worth $237,000 after purchasing an additional 1,000 shares in the last quarter. Aristides Capital LLC boosted its holdings in shares of Black Stone Minerals by 3.3% in the 4th quarter. Aristides Capital LLC now owns 35,516 shares of the oil and gas producer’s stock valued at $472,000 after buying an additional 1,120 shares in the last quarter. Quantinno Capital Management LP grew its position in shares of Black Stone Minerals by 3.0% in the 1st quarter. Quantinno Capital Management LP now owns 42,516 shares of the oil and gas producer’s stock valued at $643,000 after buying an additional 1,228 shares during the last quarter. Ancora Advisors LLC purchased a new position in shares of Black Stone Minerals in the 2nd quarter valued at $31,000. Finally, Axiom Investment Management LLC purchased a new position in shares of Black Stone Minerals in the 1st quarter valued at $37,000. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Company Profile

Black Stone Minerals, L.P. (NYSE: BSM) is a Houston-based publicly traded limited partnership that owns and manages mineral, royalty, overriding royalty and working interests in oil and natural gas properties across the United States. Unlike exploration and production companies, Black Stone generally does not operate wells; instead, it leases its mineral interests to oil and gas producers and receives royalty payments from production.

The company’s asset base is concentrated in several major onshore U.S.