Black Stone Minerals (NYSE:BSM) Hits New 52-Week Low - Time to Sell?

Key Points

• Black Stone Minerals' stock price fell to a new 52-week low of $11.94, down from a previous closing price of $12.28, with a trading volume of 549,250 shares.
• Analysts have downgraded the stock, with Piper Sandler reducing the target price from $14.00 to $13.00, and Wall Street Zen changing their rating from "buy" to "hold."
• Black Stone Minerals reported a net margin of 61.21% and beat earnings expectations with an EPS of $0.53, outperforming the consensus estimate of $0.30.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $11.94 and last traded at $11.96, with a volume of 549250 shares changing hands. The stock had previously closed at $12.28.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Piper Sandler cut their target price on shares of Black Stone Minerals from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday. Wall Street Zen cut Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th.

Black Stone Minerals Stock Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 3.22 and a quick ratio of 3.22. The company has a fifty day moving average price of $12.88 and a 200 day moving average price of $13.90. The stock has a market cap of $2.53 billion, a P/E ratio of 10.31 and a beta of 0.28.

Black Stone Minerals (NYSE:BSM - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.23. Black Stone Minerals had a net margin of 61.21% and a return on equity of 39.67%. The business had revenue of $159.49 million during the quarter, compared to analyst estimates of $112.19 million. On average, equities analysts expect that Black Stone Minerals, L.P. will post 1.36 EPS for the current year.

Black Stone Minerals Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 10.0%. Black Stone Minerals's dividend payout ratio is presently 103.45%.

Insider Buying and Selling

In other news, CEO Thomas L. Carter, Jr. bought 9,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The shares were acquired at an average price of $12.36 per share, with a total value of $113,712.00. Following the acquisition, the chief executive officer owned 3,431,031 shares of the company's stock, valued at approximately $42,407,543.16. The trade was a 0.27% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Carrie Pearson Clark sold 36,900 shares of the stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $13.56, for a total value of $500,364.00. Following the completion of the sale, the senior vice president owned 165,857 shares in the company, valued at $2,249,020.92. This trade represents a 18.20% decrease in their position. The disclosure for this sale can be found here. Insiders have purchased a total of 95,910 shares of company stock worth $1,189,002 over the last 90 days. 17.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Black Stone Minerals

A number of large investors have recently modified their holdings of the business. SVB Wealth LLC purchased a new stake in Black Stone Minerals in the first quarter valued at approximately $25,000. PNC Financial Services Group Inc. purchased a new stake in shares of Black Stone Minerals during the 1st quarter valued at $29,000. NBC Securities Inc. raised its position in shares of Black Stone Minerals by 202,400.0% during the 1st quarter. NBC Securities Inc. now owns 2,025 shares of the oil and gas producer's stock valued at $30,000 after buying an additional 2,024 shares in the last quarter. North Capital Inc. purchased a new position in Black Stone Minerals in the first quarter worth $46,000. Finally, Motco bought a new position in shares of Black Stone Minerals during the 2nd quarter valued at about $46,000. Institutional investors own 14.49% of the company's stock.

Black Stone Minerals Company Profile

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.

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