Black Stone Minerals (NYSE:BSM) Stock Passes Above 50-Day Moving Average - What's Next?

Key Points

• Black Stone Minerals (NYSE:BSM) moved above its 50-day moving average, trading as high as $14.44 and last changing hands at $14.29, suggesting short-term price strength.
• Analyst sentiment remains cautious: the stock carries a consensus “Reduce” rating and a $15.00 price target, after recent notes from Zacks, RBC, and Weiss Ratings.
• The company recently posted weak quarterly results, with EPS of $0.03 versus $0.22 expected and revenue of $59.36 million versus $107.38 million forecast, even as it paid a quarterly dividend of $0.30 per share for an 8.4% annualized yield.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report)'s stock price passed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $13.84 and traded as high as $14.44. Black Stone Minerals shares last traded at $14.29, with a volume of 224,199 shares changing hands.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BSM. Zacks Research cut shares of Black Stone Minerals from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 21st. Royal Bank Of Canada initiated coverage on shares of Black Stone Minerals in a research note on Friday, May 29th. They issued a "sector perform" rating and a $16.00 target price for the company. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Black Stone Minerals in a report on Friday, April 24th. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Black Stone Minerals currently has a consensus rating of "Reduce" and a consensus price target of $15.00.

Black Stone Minerals Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. The stock has a market capitalization of $3.04 billion, a PE ratio of 11.25 and a beta of 0.04. The stock has a 50 day moving average of $13.84 and a two-hundred day moving average of $14.31.

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 for the quarter, missing analysts' consensus estimates of $0.22 by ($0.19). Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%.The business had revenue of $59.36 million for the quarter, compared to analyst estimates of $107.38 million. Research analysts expect that Black Stone Minerals, L.P. will post 0.97 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.4%. Black Stone Minerals's dividend payout ratio is 94.49%.

Insider Activity at Black Stone Minerals

In related news, SVP Luke Stevens Putman sold 29,386 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $13.75, for a total transaction of $404,057.50. Following the sale, 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 Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Chairman Thomas L. Carter, Jr. bought 25,000 shares of the stock in a transaction on Monday, May 11th. The shares were bought at an average price of $13.47 per share, for a total transaction of $336,750.00. Following the completion of the transaction, the chairman directly owned 3,662,450 shares of the company's stock, valued at $49,333,201.50. This trade represents a 0.69% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders have acquired 179,254 shares of company stock worth $2,407,265. 17.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Doliver Advisors LP boosted its stake in shares of Black Stone Minerals by 2.5% during the 4th quarter. Doliver Advisors LP now owns 35,024 shares of the oil and gas producer's stock worth $465,000 after acquiring an additional 850 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of Black Stone Minerals by 61.0% in the 4th quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer's stock worth $32,000 after acquiring an additional 900 shares during the period. WMG Financial Advisors LLC increased its stake in Black Stone Minerals by 6.3% in the 4th quarter. WMG Financial Advisors LLC now owns 16,750 shares of the oil and gas producer's stock valued at $223,000 after purchasing an additional 1,000 shares in the last quarter. Moody National Bank Trust Division increased its stake in Black Stone Minerals by 5.7% in the 4th quarter. Moody National Bank Trust Division now owns 20,221 shares of the oil and gas producer's stock valued at $269,000 after purchasing an additional 1,085 shares in the last quarter. Finally, IHT Wealth Management LLC raised its holdings in Black Stone Minerals by 5.1% during the second quarter. IHT Wealth Management LLC now owns 22,598 shares of the oil and gas producer's stock worth $296,000 after purchasing an additional 1,104 shares during the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.

Black Stone Minerals Company Profile

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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