Black Stone Minerals (NYSE:BSM) Stock Price Passes Above Fifty Day Moving Average – Here’s Why

Black Stone Minerals, L.P. (NYSE:BSM)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $14.30 and traded as high as $15.10. Black Stone Minerals shares last traded at $15.0520, with a volume of 569,922 shares.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Zacks Research raised Black Stone Minerals from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Royal Bank Of Canada started coverage on Black Stone Minerals in a report on Friday, May 29th. They set a “sector perform” rating and a $16.00 price target for the company. Finally, Weiss Ratings upgraded shares of Black Stone Minerals from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, August 20th. Five research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $15.00.

Black Stone Minerals Stock Down 0.2%

The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.76 and a current ratio of 3.76. The company has a market capitalization of $3.16 billion, a PE ratio of 12.28 and a beta of 0.04. The firm’s 50-day simple moving average is $14.32 and its 200 day simple moving average is $14.39.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.47 earnings per share (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 business had revenue of $148.97 million during the quarter, compared to the consensus estimate of $108.28 million. As a group, equities research analysts forecast that Black Stone Minerals, L.P. will post 1.01 earnings per share for the current year.

Black Stone Minerals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th were given a dividend of $0.32 per share. The ex-dividend date was Thursday, August 6th. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 8.6%. Black Stone Minerals’s dividend payout ratio (DPR) is currently 105.79%.

Insider Transactions at Black Stone Minerals

In other news, Director James Whitehead sold 2,127,105 shares of Black Stone Minerals stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $13.21, for a total transaction of $28,099,057.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director D Mark Dewalch purchased 37,650 shares of Black Stone Minerals stock in a transaction dated Thursday, May 28th. The shares were bought at an average price of $13.21 per share, with a total value of $497,356.50. Following the completion of the transaction, the director owned 431,495 shares in the company, valued at approximately $5,700,048.95. This trade represents a 9.56% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 110,376 shares of company stock valued at $1,482,794. 17.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Black Stone Minerals

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Morgan Stanley increased its position in shares of Black Stone Minerals by 57.1% in the fourth quarter. Morgan Stanley now owns 7,107,673 shares of the oil and gas producer’s stock valued at $94,461,000 after buying an additional 2,582,823 shares in the last quarter. Bank of America Corp DE grew its stake in Black Stone Minerals by 2.2% in the 3rd quarter. Bank of America Corp DE now owns 2,600,182 shares of the oil and gas producer’s stock valued at $34,166,000 after acquiring an additional 56,368 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Black Stone Minerals by 5.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 963,313 shares of the oil and gas producer’s stock valued at $12,600,000 after acquiring an additional 49,818 shares in the last quarter. ING Groep NV raised its position in Black Stone Minerals by 42.9% during the fourth quarter. ING Groep NV now owns 728,600 shares of the oil and gas producer’s stock worth $9,683,000 after acquiring an additional 218,900 shares during the last quarter. Finally, Saber Capital Managment LLC acquired a new position in Black Stone Minerals during the fourth quarter worth about $8,389,000. 14.49% of the stock is owned by institutional investors and hedge funds.

Black Stone Minerals Company Profile

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.