Black Stone Minerals (NYSE:BSM) Stock Price Passes Below 200-Day Moving Average - What's Next?

Shares of Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.56 and traded as low as $13.73. Black Stone Minerals shares last traded at $13.90, with a volume of 310,880 shares traded.

Analyst Upgrades and Downgrades

Several brokerages have commented on BSM. Royal Bank of Canada upgraded shares of Black Stone Minerals to a "hold" rating in a research note on Friday, March 14th. Piper Sandler cut their price target 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. Finally, Wall Street Zen cut Black Stone Minerals from a "buy" rating to a "hold" rating in a report on Thursday, May 15th.

Black Stone Minerals Price Performance

The company has a 50-day moving average of $13.88 and a 200 day moving average of $14.55. The company has a market cap of $2.94 billion, a PE ratio of 8.59 and a beta of 0.31.

Black Stone Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.50 annualized dividend and a yield of 10.78%. Black Stone Minerals's payout ratio is presently 163.04%.

Insiders Place Their Bets

In other news, CEO Thomas L. Carter, Jr. purchased 14,500 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was 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 owns 3,349,621 shares of the company's stock, valued at approximately $45,286,875.92. This trade represents a 0.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Carrie Pearson Clark sold 36,900 shares of the stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $13.56, for a total value of $500,364.00. Following the completion of the transaction, the senior vice president now directly 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 disclosure for this sale can be found here. 17.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Black Stone Minerals

A number of institutional investors and hedge funds have recently bought and sold shares of BSM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Black Stone Minerals by 3,141.2% during the first 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 buying an additional 885,311 shares during the period. Cresset Asset Management LLC grew its holdings in Black Stone Minerals by 500.5% during the 4th quarter. Cresset Asset Management LLC now owns 596,853 shares of the oil and gas producer's stock worth $8,714,000 after acquiring an additional 497,457 shares in the last quarter. Investment Management Associates Inc. ADV increased its position in Black Stone Minerals by 30.8% during the 4th quarter. Investment Management Associates Inc. ADV now owns 1,544,182 shares of the oil and gas producer's stock valued at $22,545,000 after purchasing an additional 363,962 shares during the period. Aptus Capital Advisors LLC bought a new stake in shares of Black Stone Minerals in the 4th quarter valued at about $4,876,000. Finally, Northern Trust Corp purchased a new stake in shares of Black Stone Minerals in the 4th quarter worth approximately $4,428,000. 14.49% of the stock is owned by 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.