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

Key Points

• Black Stone Minerals shares rose above their 50-day moving average, reaching $15.03 before closing at $14.8150, compared with a 50-day average of $14.73.
• Analysts maintain a consensus “Hold” rating with an average price target of $15.00. The company’s latest quarterly results exceeded expectations, reporting $0.47 in EPS versus a $0.23 consensus and revenue of $148.97 million.
• Black Stone Minerals increased its quarterly dividend to $0.32, equating to an annualized $1.28 payout and an approximately 8.6% yield; however, its payout ratio stands above 100% at 105.79%.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report)'s share price passed above its fifty day moving average during trading on Monday. The stock has a fifty day moving average of $14.73 and traded as high as $15.03. Black Stone Minerals shares last traded at $14.8150, with a volume of 426,784 shares.

Analyst Upgrades and Downgrades

BSM has been the topic of several research analyst reports. Weiss Ratings upgraded shares of Black Stone Minerals from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 20th. Zacks Research raised shares of Black Stone Minerals from a "strong sell" rating to a "hold" rating in a research note on Friday, July 31st. Five research analysts have rated the stock with a Hold rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $15.00.

Black Stone Minerals Stock Performance

The firm has a 50 day moving average of $14.73 and a 200-day moving average of $14.28. The stock has a market capitalization of $3.15 billion, a PE ratio of 12.24 and a beta of 0.15. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.76 and a current ratio of 3.76.

Black Stone Minerals (NYSE:BSM - Get Free Report) last announced its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.24. Black Stone Minerals had a return on equity of 41.48% and a net margin of 61.72%. The firm had revenue of $148.97 million during the quarter, compared to analyst estimates of $108.28 million. Research analysts forecast that Black Stone Minerals, L.P. will post 0.95 earnings per share for the current year.

Black Stone Minerals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th were given a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.6%. This is a positive change from Black Stone Minerals's previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, August 6th. Black Stone Minerals's payout ratio is currently 105.79%.

Insider Activity at Black Stone Minerals

In related news, Director James Whitehead sold 2,127,105 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $13.21, for a total transaction of $28,099,057.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 17.70% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC boosted its stake in shares of Black Stone Minerals by 140.2% during the 4th quarter. Corient Private Wealth LLC now owns 207,367 shares of the oil and gas producer's stock valued at $2,756,000 after buying an additional 121,043 shares during the period. Redhawk Wealth Advisors Inc. grew its holdings in shares of Black Stone Minerals by 103.0% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 34,279 shares of the oil and gas producer's stock valued at $479,000 after acquiring an additional 17,390 shares in the last quarter. Doliver Advisors LP increased its stake in shares of Black Stone Minerals by 30.4% in the second 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 last quarter. Murphy Middleton Hinkle & Parker Inc. acquired a new position in shares of Black Stone Minerals in the third quarter worth $162,000. Finally, SteelPeak Wealth LLC acquired a new position in shares of Black Stone Minerals in the first quarter worth $166,000. 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 Houston-based publicly traded limited partnership that owns and manages mineral, royalty, overriding royalty and working interests in oil and natural gas properties across the United States. Unlike exploration and production companies, Black Stone generally does not operate wells; instead, it leases its mineral interests to oil and gas producers and receives royalty payments from production.

The company's asset base is concentrated in several major onshore U.S.

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