Black Stone Minerals (NYSE:BSM) Share Price Passes Above Fifty Day Moving Average – Time to Sell?

Shares of Black Stone Minerals, L.P. (NYSE:BSM) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $13.84 and traded as high as $14.44. Black Stone Minerals shares last traded at $14.29, with a volume of 224,199 shares.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Royal Bank Of Canada began coverage on shares of Black Stone Minerals in a research note on Friday, May 29th. They issued a “sector perform” rating and a $16.00 price objective for the company. Finally, Zacks Research downgraded shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of $15.00.

Black Stone Minerals Stock Up 0.3%

The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. The business has a fifty day simple moving average of $13.86 and a two-hundred day simple moving average of $14.31. The company has a market capitalization of $3.05 billion, a price-to-earnings ratio of 11.30 and a beta of 0.04.

Black Stone Minerals (NYSE:BSM) last issued its earnings results on Monday, May 4th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.19). The company had revenue of $59.36 million during the quarter, compared to analyst estimates of $107.38 million. Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%. Equities analysts expect that Black Stone Minerals, L.P. will post 0.97 EPS for the current year.

Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 8.4%. The ex-dividend date was Friday, May 8th. Black Stone Minerals’s dividend payout ratio is currently 94.49%.

Insider Buying and Selling

In other news, Director Ashley J. Longmaid sold 11,128 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $13.45, for a total value of $149,671.60. Following the sale, the director owned 137,335 shares of the company’s stock, valued at approximately $1,847,155.75. This represents a 7.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Luke Stevens Putman sold 29,386 shares of the company’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $13.75, for a total transaction of $404,057.50. Following the completion of the sale, the senior vice president directly owned 702,645 shares in the company, valued at approximately $9,661,368.75. The trade was a 4.01% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have bought 179,254 shares of company stock valued at $2,407,265. 17.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Black Stone Minerals

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Morgan Stanley boosted its stake in 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 worth $94,461,000 after purchasing an additional 2,582,823 shares in the last quarter. Northwestern University acquired a new stake in shares of Black Stone Minerals in the fourth quarter valued at $15,671,000. Saber Capital Managment LLC acquired a new stake in shares of Black Stone Minerals in the fourth quarter valued at $8,389,000. Forum Financial Management LP acquired a new stake in shares of Black Stone Minerals in the fourth quarter valued at $3,987,000. Finally, CIBC Bancorp USA Inc. bought a new position in shares of Black Stone Minerals in the third quarter valued at about $3,512,000. 14.49% of the stock is currently 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.