Black Stone Minerals (NYSE:BSM) Share Price Crosses Above Fifty Day Moving Average - Time to Sell?

Key Points

• Black Stone Minerals shares moved above their 50-day moving average, reaching $15.10 and closing near $15.05, compared with a 50-day average of $14.30.
• Analysts maintain a cautious outlook: five analysts rate the stock “Hold,” with a consensus price target of $15.00. The company nevertheless exceeded quarterly expectations, reporting $0.47 EPS and $148.97 million in revenue.
• Black Stone Minerals raised its quarterly dividend to $0.32 per share, implying an annualized yield of about 8.5%; insider activity was mixed, with purchases by some directors and a major sale by another director.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report)'s stock price passed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $14.30 and traded as high as $15.10. Black Stone Minerals shares last traded at $15.0520, with a volume of 569,922 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Royal Bank Of Canada began coverage on shares of Black Stone Minerals in a research note on Friday, May 29th. They set a "sector perform" rating and a $16.00 price objective on the stock. Zacks Research raised shares of Black Stone Minerals from a "strong sell" rating to a "hold" rating in a research report on Friday, July 31st. Finally, Weiss Ratings upgraded shares of Black Stone Minerals from a "hold (c-)" rating to a "hold (c)" rating in a research note on Thursday. Five equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $15.00.

Black Stone Minerals Trading Up 1.1%

The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 3.76. The business's fifty day simple moving average is $14.30 and its 200 day simple moving average is $14.39. The stock has a market cap of $3.20 billion, a price-to-earnings ratio of 12.44 and a beta of 0.04.

Black Stone Minerals (NYSE:BSM - Get Free Report) last issued its earnings results on Monday, August 3rd. The oil and gas producer reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.23 by $0.24. Black Stone Minerals had a net margin of 61.72% and a return on equity of 41.48%. The company had revenue of $148.97 million for the quarter, compared to analysts' expectations of $108.28 million. On average, research analysts predict that Black Stone Minerals, L.P. will post 0.96 EPS for the current year.

Black Stone Minerals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Investors of record on Thursday, August 6th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 8.5%. This is a positive change from Black Stone Minerals's previous quarterly dividend of $0.30. The ex-dividend date was Thursday, August 6th. Black Stone Minerals's dividend payout ratio (DPR) is currently 105.79%.

Insider Activity

In related news, Director D Mark Dewalch purchased 36,363 shares of the company's stock in a transaction dated Monday, June 1st. The shares were acquired at an average cost of $13.62 per share, for a total transaction of $495,264.06. Following the transaction, the director owned 631,248 shares of the company's stock, valued at $8,597,597.76. This trade represents a 6.11% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director James Whitehead sold 2,127,105 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $13.21, for a total value of $28,099,057.05. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have purchased 110,376 shares of company stock worth $1,482,794. 17.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Ancora Advisors LLC acquired a new position in shares of Black Stone Minerals during the second quarter valued at $31,000. Doliver Advisors LP increased its holdings in shares of Black Stone Minerals by 30.4% in the 2nd quarter. Doliver Advisors LP now owns 59,827 shares of the oil and gas producer's stock worth $836,000 after acquiring an additional 13,950 shares during the period. Redhawk Wealth Advisors Inc. increased its holdings in shares of Black Stone Minerals by 103.0% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 34,279 shares of the oil and gas producer's stock worth $479,000 after acquiring an additional 17,390 shares during the period. Axiom Investment Management LLC bought a new stake in Black Stone Minerals in the 1st quarter valued at about $37,000. Finally, Quantinno Capital Management LP lifted its position in Black Stone Minerals by 3.0% in the 1st quarter. Quantinno Capital Management LP now owns 42,516 shares of the oil and gas producer's stock valued at $643,000 after purchasing an additional 1,228 shares during the last quarter. 14.49% of the stock is currently owned by 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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