Black Stone Minerals (NYSE:BSM) Share Price Breaks Above 50 Day Moving Average on Analyst Downgrade

Black Stone Minerals, L.P. (NYSE:BSM) crossed above its 50 day moving average during trading on Monday after Weiss Ratings upgraded the stock from a hold (c-) rating to a hold (c) rating. The stock has a 50 day moving average of $14.73 and traded as high as $15.03. Black Stone Minerals shares last traded at $14.8150, with a volume of 426,784 shares changing hands.

Other research analysts have also issued reports about the company. Royal Bank Of Canada assumed coverage on Black Stone Minerals in a research report on Friday, May 29th. They issued a “sector perform” rating and a $16.00 price target for the company. Zacks Research raised Black Stone Minerals from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. Four equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of $15.00.

Insider Activity

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 value of $28,099,057.05. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 17.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Black Stone Minerals

A number of hedge funds and other institutional investors have recently bought and sold shares of BSM. Abel Hall LLC acquired a new stake in shares of Black Stone Minerals in the 3rd quarter worth $143,000. Murphy Middleton Hinkle & Parker Inc. purchased a new position in Black Stone Minerals during the 3rd quarter worth $162,000. Ulland Investment Advisors LLC increased its position in Black Stone Minerals by 26.6% during the 3rd quarter. Ulland Investment Advisors LLC now owns 30,000 shares of the oil and gas producer’s stock valued at $430,000 after buying an additional 6,300 shares in the last quarter. IKE Capital LLC increased its position in Black Stone Minerals by 6.2% during the 2nd quarter. IKE Capital LLC now owns 17,000 shares of the oil and gas producer’s stock valued at $237,000 after buying an additional 1,000 shares in the last quarter. Finally, Tidal Investments LLC increased its position in Black Stone Minerals by 72.8% during the 2nd quarter. Tidal Investments LLC now owns 24,605 shares of the oil and gas producer’s stock valued at $344,000 after buying an additional 10,366 shares in the last quarter. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Stock Performance

The business has a 50 day simple moving average of $14.74 and a 200 day simple moving average of $14.28. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.10 billion, a PE ratio of 12.04 and a beta of 0.15.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.24. Black Stone Minerals had a return on equity of 41.48% and a net margin of 61.72%. The business had revenue of $148.97 million during the quarter, compared to the consensus estimate of $108.28 million. Equities research analysts predict that Black Stone Minerals, L.P. will post 0.95 EPS for the current fiscal year.

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.