Black Stone Minerals (NYSE:BSM) Stock Price Breaks Above Fifty Day Moving Average on Disappointing Earnings

Key Points

• Black Stone Minerals reported quarterly EPS of $0.21, below the $0.26 analyst consensus, and revenue of $99.73 million versus expectations of $116.41 million.
• Shares rose above their 50-day moving average of $14.77, reaching $14.90 and last trading at $14.833.
• The company raised its quarterly dividend from $0.32 to $0.35 per unit, an annualized yield of 9.4%; analysts’ average rating is “Reduce,” with a $15 consensus target price.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report)'s stock price crossed above its fifty day moving average during trading on Tuesday after the company announced better than expected quarterly earnings. The stock has a fifty day moving average of $14.77 and traded as high as $14.90. Black Stone Minerals shares last traded at $14.8330, with a volume of 541,895 shares traded.

The oil and gas producer reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.05). Black Stone Minerals had a return on equity of 36.85% and a net margin of 57.23%. The business had revenue of $99.73 million for the quarter, compared to analysts' expectations of $116.41 million.

Black Stone Minerals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be paid a $0.35 dividend. This is a boost from Black Stone Minerals's previous quarterly dividend of $0.32. The ex-dividend date is Friday, November 6th. This represents a $1.40 dividend on an annualized basis and a yield of 9.4%. Black Stone Minerals's dividend payout ratio (DPR) is 105.79%.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BSM. Zacks Research downgraded shares of Black Stone Minerals from a "hold" rating to a "strong sell" rating in a research report on Friday, October 16th. Weiss Ratings raised shares of Black Stone Minerals from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 20th. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Black Stone Minerals has an average rating of "Reduce" and a consensus target price of $15.00.

Insider Buying and Selling at Black Stone Minerals

In other news, Director James Whitehead sold 2,127,105 shares of Black Stone Minerals 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. 17.70% of the stock is currently owned by company insiders.

Institutional Trading of Black Stone Minerals

A number of hedge funds have recently added to or reduced their stakes in BSM. Next Level Wealth Planning LLC purchased a new stake in shares of Black Stone Minerals in the third quarter valued at approximately $25,000. Ancora Advisors LLC purchased a new position in shares of Black Stone Minerals during the 2nd quarter valued at approximately $31,000. Axiom Investment Management LLC purchased a new position in shares of Black Stone Minerals during the 1st quarter valued at approximately $37,000. Summit Securities Group LLC purchased a new position in shares of Black Stone Minerals during the 1st quarter valued at approximately $83,000. Finally, Abel Hall LLC acquired a new stake in Black Stone Minerals in the 3rd quarter valued at $143,000. 14.49% of the stock is owned by hedge funds and other institutional investors.

Black Stone Minerals Stock Up 0.6%

The business's 50 day moving average is $14.77 and its 200-day moving average is $14.50. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 14.54 and a beta of 0.14. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.76 and a current ratio of 3.76.

About Black Stone Minerals

Black Stone Minerals, L.P. NYSE: BSM is a publicly traded master limited partnership that owns mineral and royalty interests in oil and natural gas properties across the United States. The company's interests entitle it to receive a portion of production or revenue from properties operated and developed by exploration and production companies, generally without bearing the same level of operating costs as working-interest owners.

Black Stone's portfolio includes mineral, royalty, overriding royalty and working interests in several major U.S.

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