Black Stone Minerals (NYSE:BSM) Sets New 12-Month Low at $14.81

Shares of Black Stone Minerals, L.P. (NYSE:BSM) hit a new 52-week low during trading on Thursday . The company traded as low as $14.81 and last traded at $14.89, with a volume of 156211 shares changing hands. The stock had previously closed at $15.04.

Analyst Upgrades and Downgrades

Separately, KeyCorp began coverage on shares of Black Stone Minerals in a research report on Thursday, June 27th. They set a “sector weight” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $18.50.

Black Stone Minerals Stock Down 1.7 %

The stock has a market capitalization of $3.11 billion, a PE ratio of 9.76 and a beta of 0.93. The stock’s 50 day moving average price is $15.70 and its 200-day moving average price is $15.84.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, May 6th. The oil and gas producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.08). Black Stone Minerals had a net margin of 66.29% and a return on equity of 38.71%. The business had revenue of $105.49 million during the quarter, compared to analysts’ expectations of $119.50 million. On average, analysts forecast that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Friday, August 9th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, August 9th. This represents a $1.50 annualized dividend and a yield of 10.15%. Black Stone Minerals’s dividend payout ratio (DPR) is currently 97.40%.

Institutional Trading of Black Stone Minerals

Hedge funds have recently made changes to their positions in the business. Bogart Wealth LLC bought a new stake in Black Stone Minerals during the first quarter worth approximately $26,000. HBC Financial Services PLLC bought a new position in Black Stone Minerals during the fourth quarter valued at $31,000. Newbridge Financial Services Group Inc. raised its stake in shares of Black Stone Minerals by 279.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,036 shares of the oil and gas producer’s stock valued at $48,000 after acquiring an additional 2,236 shares during the period. Summit Securities Group LLC bought a new stake in shares of Black Stone Minerals in the 2nd quarter worth about $74,000. Finally, Arlington Trust Co LLC bought a new stake in Black Stone Minerals in the fourth quarter worth about $100,000. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Black Stone Minerals Company Profile

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.