Black Stone Minerals (NYSE:BSM) Stock Price Passes Below 200-Day Moving Average - Here's Why

Shares of Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 changing hands.

Analyst Upgrades and Downgrades

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

Black Stone Minerals Price Performance

The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 8.61 and a beta of 0.31. The business's 50-day simple moving average is $13.91 and its two-hundred day simple moving average is $14.53.

Black Stone Minerals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were given a $0.375 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.50 dividend on an annualized basis and a yield of 10.75%. Black Stone Minerals's dividend payout ratio is currently 163.04%.

Insider Activity

In related news, SVP Carrie Pearson Clark sold 36,900 shares of Black Stone Minerals stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $13.56, for a total transaction of $500,364.00. Following the completion of the transaction, the senior vice president now owns 165,857 shares of the company's stock, valued at $2,249,020.92. This trade represents a 18.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas L. Carter, Jr. bought 14,500 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were purchased at an average cost of $13.52 per share, with a total value of $196,040.00. Following the purchase, the chief executive officer now directly owns 3,349,621 shares of the company's stock, valued at $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. 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 bought and sold shares of the stock. Penn Davis Mcfarland Inc. increased its stake in Black Stone Minerals by 16.3% in the first 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 purchasing an additional 260,559 shares in the last quarter. Investment Management Associates Inc. ADV grew its holdings in shares of Black Stone Minerals by 30.8% during the fourth 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 buying an additional 363,962 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position 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 worth $13,949,000 after acquiring an additional 885,311 shares in the last quarter. Cresset Asset Management LLC increased its position in shares of Black Stone Minerals by 500.5% during the fourth 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. Finally, Epacria Capital Partners LLC increased its position in shares of Black Stone Minerals by 5.4% during the fourth quarter. Epacria Capital Partners LLC now owns 578,422 shares of the oil and gas producer's stock worth $8,445,000 after acquiring an additional 29,724 shares in the last quarter. 14.49% of the stock is owned by institutional investors.

Black Stone Minerals Company Profile

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.