Black Stone Minerals (NYSE:BSM) Stock Crosses Below 200-Day Moving Average - Here's What Happened

Key Points

• Black Stone Minerals (NYSE:BSM) fell below its 200-day moving average, with shares trading as low as $13.88 before last changing hands around $14.03.
• Recent analyst sentiment is cautious: the stock carries a consensus rating of “Reduce” with a $15.00 average price target, and recent notes included a downgrade from Zacks and a neutral/sector perform view from other firms.
• The company posted a weak quarterly earnings report, missing expectations on both EPS and revenue, though it continues to pay a high dividend yield of 8.6% and saw mixed insider activity, with both selling and buying reported.

Shares of Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) passed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $14.30 and traded as low as $13.88. Black Stone Minerals shares last traded at $14.0280, with a volume of 246,096 shares.

Analyst Ratings Changes

A number of brokerages have commented on BSM. Weiss Ratings reissued a "hold (c)" rating on shares of Black Stone Minerals in a report on Friday, April 24th. Piper Sandler lifted their price target on Black Stone Minerals from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, March 5th. Royal Bank Of Canada initiated coverage on Black Stone Minerals in a research report on Friday, May 29th. They set a "sector perform" rating and a $16.00 price target for the company. Finally, Zacks Research downgraded Black Stone Minerals from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 21st. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, Black Stone Minerals presently has an average rating of "Reduce" and a consensus target price of $15.00.

Black Stone Minerals Stock Up 0.6%

The stock has a market capitalization of $2.98 billion, a price-to-earnings ratio of 11.05 and a beta of 0.05. The business's 50-day moving average is $13.84 and its two-hundred day moving average is $14.30. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24.

Black Stone Minerals (NYSE:BSM - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.19). Black Stone Minerals had a net margin of 61.67% and a return on equity of 42.40%. The business had revenue of $59.36 million for the quarter, compared to analysts' expectations of $107.38 million. Equities analysts anticipate that Black Stone Minerals, L.P. will post 0.97 EPS for the current year.

Black Stone Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were given a $0.30 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.6%. Black Stone Minerals's dividend payout ratio is 94.49%.

Insider Buying and Selling

In other Black Stone Minerals news, SVP Luke Stevens Putman sold 29,386 shares of the business's stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $13.75, for a total transaction of $404,057.50. Following the transaction, the senior vice president owned 702,645 shares of the company's stock, valued at approximately $9,661,368.75. The trade was a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director D Mark Dewalch bought 36,363 shares of the company's stock in a transaction on Monday, June 1st. The stock was bought at an average price of $13.62 per share, with a total value of $495,264.06. Following the completion of the acquisition, the director owned 631,248 shares in the company, valued at $8,597,597.76. This represents a 6.11% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders bought 179,254 shares of company stock worth $2,407,265 and sold 69,900 shares worth $978,357. 17.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Axiom Investment Management LLC purchased a new stake in shares of Black Stone Minerals in the first quarter valued at about $37,000. Quantinno Capital Management LP raised its stake in Black Stone Minerals by 3.0% during the first quarter. Quantinno Capital Management LP now owns 42,516 shares of the oil and gas producer's stock worth $643,000 after purchasing an additional 1,228 shares during the period. Aristides Capital LLC raised its stake in Black Stone Minerals by 19.2% during the first quarter. Aristides Capital LLC now owns 42,330 shares of the oil and gas producer's stock worth $640,000 after purchasing an additional 6,814 shares during the period. SteelPeak Wealth LLC acquired a new position in Black Stone Minerals in the 1st quarter valued at about $166,000. Finally, Summit Securities Group LLC acquired a new position in Black Stone Minerals in the 1st quarter valued at about $83,000. Institutional investors and hedge funds own 14.49% of the company's stock.

About Black Stone Minerals

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.

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