Black Stone Minerals (NYSE:BSM) Stock Crosses Above 50-Day Moving Average – Time to Sell?

Black Stone Minerals, L.P. (NYSE:BSM)’s share price crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $14.70 and traded as high as $14.82. Black Stone Minerals shares last traded at $14.6950, with a volume of 413,277 shares trading hands.

Analyst Ratings Changes

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

Black Stone Minerals Stock Down 2.1%

The firm’s 50-day moving average price is $14.70 and its 200-day moving average price is $14.35. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 3.76. The company has a market cap of $3.06 billion, a price-to-earnings ratio of 11.89 and a beta of 0.05.

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

Black Stone Minerals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th were paid a dividend of $0.32 per share. This is a boost from Black Stone Minerals’s previous quarterly dividend of $0.30. The ex-dividend date was Thursday, August 6th. This represents a $1.28 annualized dividend and a dividend yield of 8.9%. Black Stone Minerals’s dividend payout ratio is currently 105.79%.

Insider Activity at Black Stone Minerals

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 stock was 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 is accessible through the SEC website. Insiders own 17.70% of the company’s stock.

Institutional Investors Weigh In On Black Stone Minerals

Several large investors have recently modified their holdings of the stock. Ancora Advisors LLC acquired a new position in shares of Black Stone Minerals in the 2nd quarter worth approximately $31,000. Axiom Investment Management LLC acquired a new position in Black Stone Minerals in the first quarter worth $37,000. Summit Securities Group LLC bought a new stake in shares of Black Stone Minerals during the first quarter worth $83,000. SteelPeak Wealth LLC acquired a new stake in shares of Black Stone Minerals in the first quarter valued at $166,000. Finally, Van Hulzen Asset Management LLC raised its holdings in shares of Black Stone Minerals by 50.0% in the second 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 during the last quarter. 14.49% of the stock is currently owned by institutional investors.

About Black Stone Minerals

Black Stone Minerals, L.P. is a publicly traded master limited partnership that owns oil and natural gas mineral and royalty interests in the United States. The company generally does not operate wells directly; instead, it leases its mineral interests to exploration and production companies and receives royalty payments from the oil, natural gas and natural gas liquids produced from those properties.

Black Stone Minerals’ assets are located across numerous U.S. oil and gas regions, with significant exposure to areas including the Permian Basin, Haynesville Basin and Eagle Ford shale.