Black Stone Minerals (NYSE:BSM) Sets New 52-Week Low – Here’s What Happened

Black Stone Minerals, L.P. (NYSE:BSM) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $13.87 and last traded at $14.04, with a volume of 257329 shares changing hands. The stock had previously closed at $14.18.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on BSM shares. StockNews.com upgraded Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Monday. Piper Sandler dropped their price objective on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th.

Black Stone Minerals Stock Performance

The stock has a market cap of $2.93 billion, a P/E ratio of 8.60 and a beta of 0.96. The business’s 50-day moving average price is $14.99 and its 200-day moving average price is $15.12.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The business had revenue of $134.86 million for the quarter, compared to the consensus estimate of $117.68 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. As a group, equities research analysts expect that Black Stone Minerals, L.P. will post 1.32 earnings per share for the current year.

Black Stone Minerals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were paid a dividend of $0.375 per share. The ex-dividend date was Friday, November 8th. This represents a $1.50 annualized dividend and a yield of 10.77%. Black Stone Minerals’s payout ratio is 92.59%.

Institutional Trading of Black Stone Minerals

A number of large investors have recently added to or reduced their stakes in BSM. Fiducient Advisors LLC purchased a new position in shares of Black Stone Minerals in the 3rd quarter worth approximately $12,253,000. Magnolia Capital Advisors LLC purchased a new position in Black Stone Minerals during the second quarter worth $2,480,000. Horizon Kinetics Asset Management LLC raised its stake in shares of Black Stone Minerals by 65.9% during the third quarter. Horizon Kinetics Asset Management LLC now owns 275,638 shares of the oil and gas producer’s stock valued at $4,162,000 after acquiring an additional 109,500 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Black Stone Minerals in the third quarter valued at approximately $8,240,000. Finally, Prevail Innovative Wealth Advisors LLC raised its position in Black Stone Minerals by 25.7% during the 2nd quarter. Prevail Innovative Wealth Advisors LLC now owns 201,336 shares of the oil and gas producer’s stock valued at $3,155,000 after purchasing an additional 41,136 shares in the last quarter. Institutional investors own 14.49% of the company’s stock.

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.