Black Stone Minerals (NYSE:BSM) Stock Price Breaks Above 50 Day Moving Average - Should You Sell?

Key Points

• Black Stone Minerals shares moved above their 50-day moving average, trading as high as $14.89 and last changing hands near $14.80, up 0.3%.
• Analysts maintain a consensus “Hold” rating with an average price target of $15.00. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.47 in EPS and $148.97 million in revenue.
• Black Stone Minerals increased its quarterly dividend to $0.32, equivalent to an annualized $1.28 payout and an approximately 8.7% yield; however, a director sold more than 2.1 million shares in August.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) shares crossed above its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $14.68 and traded as high as $14.89. Black Stone Minerals shares last traded at $14.7950, with a volume of 215,509 shares.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Zacks Research upgraded Black Stone Minerals from a "strong sell" rating to a "hold" rating in a report on Friday, July 31st. Weiss Ratings upgraded Black Stone Minerals from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 20th. Five investment analysts have rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $15.00.

Black Stone Minerals Trading Up 0.3%

The company has a market capitalization of $3.15 billion, a PE ratio of 12.23 and a beta of 0.15. The company's fifty day moving average is $14.68 and its 200-day moving average is $14.30. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 3.76.

Black Stone Minerals (NYSE:BSM - Get Free Report) last issued 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. The company had revenue of $148.97 million during the quarter, compared to the consensus estimate of $108.28 million. Black Stone Minerals had a net margin of 61.72% and a return on equity of 41.48%. On average, analysts anticipate that Black Stone Minerals, L.P. will post 0.95 EPS for the current fiscal year.

Black Stone Minerals Increases Dividend

The company also recently disclosed 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 8.7%. The ex-dividend date of this dividend was Thursday, August 6th. This is an increase from Black Stone Minerals's previous quarterly dividend of $0.30. Black Stone Minerals's payout ratio is presently 105.79%.

Insider Activity at Black Stone Minerals

In related news, Director James Whitehead sold 2,127,105 shares of the 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 accessible through this hyperlink. 17.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Black Stone Minerals

Institutional investors and hedge funds have recently bought and sold shares of the company. Saber Capital Managment LLC purchased a new stake in shares of Black Stone Minerals during the 4th quarter valued at $8,389,000. Corient Private Wealth LLC grew its stake in 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 worth $2,756,000 after buying an additional 121,043 shares during the last quarter. Rare Wolf Capital LLC purchased a new position in Black Stone Minerals during the 4th quarter worth $968,000. Doliver Advisors LP increased its position in Black Stone Minerals by 30.4% during the 2nd quarter. Doliver Advisors LP now owns 59,827 shares of the oil and gas producer's stock valued at $836,000 after buying an additional 13,950 shares in the last quarter. Finally, Quantinno Capital Management LP increased its position in Black Stone Minerals by 3.0% during 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 buying an additional 1,228 shares in 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 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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