Black Stone Minerals (NYSE:BSM) Sets New 1-Year Low – Should You Sell?

by · The Cerbat Gem

Black Stone Minerals, L.P. (NYSE:BSM – Get Free Report)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $13.72 and last traded at $13.85, with a volume of 908257 shares. The stock had previously closed at $14.91.

Analysts Set New Price Targets

Several brokerages have weighed in on BSM. Piper Sandler lifted their price objective on Black Stone Minerals from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Royal Bank of Canada raised shares of Black Stone Minerals to a “hold” rating in a report on Friday, March 14th. Finally, StockNews.com lowered shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

Get Our Latest Stock Report on Black Stone Minerals

Black Stone Minerals Stock Down 6.4 %

The stock has a market cap of $2.95 billion, a price-to-earnings ratio of 8.62 and a beta of 0.92. The company has a 50 day simple moving average of $15.01 and a 200 day simple moving average of $14.96.

Black Stone Minerals (NYSE:BSM – Get Free Report) last issued its quarterly earnings data on Monday, February 24th. The oil and gas producer reported $0.18 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.21). Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The company had revenue of $83.73 million during the quarter, compared to the consensus estimate of $115.46 million. As a group, analysts predict that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current fiscal year.

Black Stone Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th were given a $0.375 dividend. The ex-dividend date was Tuesday, February 18th. This represents a $1.50 annualized dividend and a yield of 10.74%. Black Stone Minerals’s dividend payout ratio is presently 130.43%.

Institutional Trading of Black Stone Minerals

Hedge funds and other institutional investors have recently made changes to their positions in the company. Cresset Asset Management LLC boosted its position in Black Stone Minerals by 500.5% during the 4th quarter. Cresset Asset Management LLC now owns 596,853 shares of the oil and gas producer’s stock worth $8,714,000 after buying an additional 497,457 shares during the period. Investment Management Associates Inc. ADV lifted 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 worth $22,545,000 after purchasing an additional 363,962 shares during the period. Aptus Capital Advisors LLC bought a new stake in shares of Black Stone Minerals in the fourth quarter worth $4,876,000. Northern Trust Corp acquired a new stake in Black Stone Minerals in the fourth quarter valued at $4,428,000. Finally, Raymond James Financial Inc. bought a new position in Black Stone Minerals during the 4th quarter worth $4,211,000. 14.49% of the stock is currently owned by institutional investors.

About Black Stone Minerals

(Get Free Report)

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.

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