Black Stone Minerals (NYSE:BSM) Hits New 12-Month Low - What's Next?

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report)'s share price hit a new 52-week low on Tuesday . The company traded as low as $12.80 and last traded at $12.94, with a volume of 48002 shares changing hands. The stock had previously closed at $12.95.

Wall Street Analyst Weigh In

BSM has been the topic of a number of research analyst reports. Royal Bank Of Canada upgraded Black Stone Minerals to a "hold" rating in a research report on Friday, March 14th. Wall Street Zen cut Black Stone Minerals from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Finally, Piper Sandler cut their target price on shares of Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th.

Black Stone Minerals Stock Performance

The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.35 and a current ratio of 1.35. The business's fifty day moving average price is $13.75 and its two-hundred day moving average price is $14.40. The stock has a market capitalization of $2.75 billion, a P/E ratio of 14.14 and a beta of 0.31.

Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were given a dividend of $0.375 per share. The ex-dividend date was Thursday, May 8th. This represents a $1.50 dividend on an annualized basis and a yield of 11.52%. Black Stone Minerals's dividend payout ratio (DPR) is presently 163.04%.

Insider Activity

In other news, SVP Carrie Pearson Clark sold 36,900 shares of the firm's stock in a transaction dated Thursday, May 29th. The shares were 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 now owns 165,857 shares in the company, valued at approximately $2,249,020.92. This trade represents a 18.20% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas L. Carter, Jr. purchased 14,500 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were purchased at an average price of $13.52 per share, for a total transaction of $196,040.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,349,621 shares in the company, valued at $45,286,875.92. The trade was a 0.43% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 17.80% of the company's stock.

Institutional Investors Weigh In On Black Stone Minerals

Several hedge funds and other institutional investors have recently modified their holdings of BSM. Northern Trust Corp bought a new position in Black Stone Minerals in the 4th quarter valued at $4,428,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Black Stone Minerals during the fourth quarter valued at $411,000. Alpha Wealth Funds LLC bought a new position in shares of Black Stone Minerals in the fourth quarter worth about $359,000. Raymond James Financial Inc. bought a new stake in Black Stone Minerals during the 4th quarter valued at about $4,211,000. Finally, Cresset Asset Management LLC boosted its position in Black Stone Minerals by 500.5% in the 4th quarter. Cresset Asset Management LLC now owns 596,853 shares of the oil and gas producer's stock valued at $8,714,000 after buying an additional 497,457 shares during the period. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

About Black Stone Minerals

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.