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

Shares of Black Stone Minerals, L.P. (NYSE:BSM) reached a new 52-week low during trading on Friday . The stock 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.

Wall Street Analysts Forecast Growth

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

Black Stone Minerals Stock Down 6.4 %

The stock has a market capitalization of $2.95 billion, a P/E ratio of 8.62 and a beta of 0.52. The business has a 50-day simple moving average of $14.99 and a two-hundred day simple moving average of $14.95.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.21). The business had revenue of $83.73 million for the quarter, compared to analyst estimates of $115.46 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. On average, sell-side analysts forecast that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.50 annualized dividend and a dividend yield of 10.74%. Black Stone Minerals’s dividend payout ratio (DPR) is currently 130.43%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BSM. Cresset Asset Management LLC raised its holdings 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 purchasing an additional 497,457 shares during the last quarter. Investment Management Associates Inc. ADV raised its stake 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 buying an additional 363,962 shares during the last quarter. Aptus Capital Advisors LLC acquired a new position in Black Stone Minerals in the fourth quarter valued at approximately $4,876,000. Northern Trust Corp acquired a new stake in Black Stone Minerals during the 4th quarter worth $4,428,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Black Stone Minerals during the 4th quarter valued at $4,211,000. 14.49% of the stock is currently owned by 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.