Black Stone Minerals (NYSE:BSM) Hits New 12-Month Low – Time to Sell?

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

Analysts Set New Price Targets

Several research firms have recently commented on BSM. Piper Sandler reduced their price target on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, November 18th. StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Monday.

Black Stone Minerals Stock Down 1.1 %

The company has a market capitalization of $2.93 billion, a PE ratio of 8.60 and a beta of 0.96. The business has a 50 day simple moving average of $14.99 and a 200 day simple moving average of $15.12.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. The firm had revenue of $134.86 million during the quarter, compared to analyst estimates of $117.68 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. During the same period last year, the firm posted $0.27 EPS. Equities analysts expect that Black Stone Minerals, L.P. will post 1.32 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders 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 dividend yield of 10.77%. Black Stone Minerals’s payout ratio is currently 92.59%.

Institutional Trading of Black Stone Minerals

Several large investors have recently added to or reduced their stakes in the company. Horizon Kinetics Asset Management LLC increased its stake in shares of Black Stone Minerals by 65.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 275,638 shares of the oil and gas producer’s stock worth $4,162,000 after acquiring an additional 109,500 shares during the period. Magnolia Capital Advisors LLC purchased a new stake in Black Stone Minerals in the second quarter valued at $2,480,000. International Assets Investment Management LLC acquired a new stake in Black Stone Minerals during the 3rd quarter worth about $8,240,000. ING Groep NV lifted its holdings in shares of Black Stone Minerals by 5.9% in the 3rd quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer’s stock valued at $9,859,000 after buying an additional 36,300 shares during the period. Finally, Fiducient Advisors LLC purchased a new stake in shares of Black Stone Minerals in the third quarter worth about $12,253,000. Hedge funds and other 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.