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

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) shares hit a new 52-week low during mid-day trading on Tuesday . The stock 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.

Analysts Set New Price Targets

Several equities analysts recently commented on BSM shares. Wall Street Zen lowered Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Piper Sandler dropped their target price on Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, Royal Bank Of Canada upgraded Black Stone Minerals to a "hold" rating in a research note on Friday, March 14th.

Black Stone Minerals Stock Performance

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 stock has a 50 day simple moving average of $13.85 and a 200 day simple moving average of $14.45. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of 14.16 and a beta of 0.31.

Black Stone Minerals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were paid a $0.375 dividend. The ex-dividend date was Thursday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 11.49%. Black Stone Minerals's payout ratio is currently 163.04%.

Insider Buying and Selling

In related news, SVP Carrie Pearson Clark sold 36,900 shares of the business's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $13.56, for a total value of $500,364.00. Following the sale, the senior vice president now directly owns 165,857 shares in the company, valued at $2,249,020.92. The trade was a 18.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas L. Carter, Jr. bought 14,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was bought 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 approximately $45,286,875.92. The trade was a 0.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 17.80% of the company's stock.

Hedge Funds Weigh In On Black Stone Minerals

Institutional investors and hedge funds have recently bought and sold shares of the business. Penn Davis Mcfarland Inc. lifted its holdings in shares of Black Stone Minerals by 16.3% during the 1st quarter. Penn Davis Mcfarland Inc. now owns 1,861,741 shares of the oil and gas producer's stock valued at $28,429,000 after buying an additional 260,559 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Black Stone Minerals by 3,141.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 913,495 shares of the oil and gas producer's stock valued at $13,949,000 after purchasing an additional 885,311 shares in the last quarter. Cresset Asset Management LLC lifted its stake in shares of 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 purchasing an additional 497,457 shares during the last quarter. Epacria Capital Partners LLC lifted its stake in shares of Black Stone Minerals by 5.4% in the 4th quarter. Epacria Capital Partners LLC now owns 578,422 shares of the oil and gas producer's stock valued at $8,445,000 after purchasing an additional 29,724 shares during the last quarter. Finally, Concorde Financial Corp boosted its holdings in Black Stone Minerals by 0.5% in the fourth quarter. Concorde Financial Corp now owns 483,209 shares of the oil and gas producer's stock worth $7,055,000 after purchasing an additional 2,202 shares in the last quarter. Hedge funds and other institutional investors own 14.49% of the company's stock.

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.

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