Black Stone Minerals (NYSE:BSM) Hits New 12-Month Low - Time to Sell?

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) shares reached a new 52-week low during trading on Thursday . The stock traded as low as $12.41 and last traded at $12.41, with a volume of 372640 shares traded. The stock had previously closed at $12.87.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Piper Sandler decreased their target price on Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Wall Street Zen cut Black Stone Minerals from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th.

Black Stone Minerals Stock Down 1.4%

The firm has a fifty day moving average price of $13.36 and a 200-day moving average price of $14.27. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.08. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 13.27 and a beta of 0.30.

Insiders Place Their Bets

In related news, CEO Thomas L. Carter, Jr. acquired 14,500 shares of Black Stone Minerals stock in a transaction on Wednesday, May 21st. The shares were bought at an average price of $13.52 per share, for a total transaction of $196,040.00. Following the completion of the purchase, the chief executive officer directly owned 3,349,621 shares in the company, valued at $45,286,875.92. This trade represents a 0.43% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Carrie Pearson Clark sold 36,900 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $13.56, for a total value of $500,364.00. Following the transaction, the senior vice president owned 165,857 shares in the company, valued at approximately $2,249,020.92. This represents a 18.20% decrease in their position. The disclosure for this sale can be found here. 17.80% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BSM. Annandale Capital LLC increased its position in shares of Black Stone Minerals by 5.5% during the fourth quarter. Annandale Capital LLC now owns 14,382 shares of the oil and gas producer's stock worth $210,000 after acquiring an additional 747 shares during the last quarter. Doliver Advisors LP grew its holdings in shares of Black Stone Minerals by 2.6% during the first quarter. Doliver Advisors LP now owns 31,734 shares of the oil and gas producer's stock valued at $485,000 after purchasing an additional 791 shares during the last quarter. Vident Advisory LLC grew its holdings in shares of Black Stone Minerals by 2.7% during the fourth quarter. Vident Advisory LLC now owns 31,738 shares of the oil and gas producer's stock valued at $463,000 after purchasing an additional 846 shares during the last quarter. Fiduciary Group LLC grew its holdings in shares of Black Stone Minerals by 7.1% during the first quarter. Fiduciary Group LLC now owns 21,218 shares of the oil and gas producer's stock valued at $324,000 after purchasing an additional 1,406 shares during the last quarter. Finally, Virtus ETF Advisers LLC grew its holdings in Black Stone Minerals by 14.1% in the 4th quarter. Virtus ETF Advisers LLC now owns 11,838 shares of the oil and gas producer's stock worth $173,000 after buying an additional 1,463 shares in the last quarter. Institutional investors and hedge funds 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.