Black Stone Minerals (NYSE:BSM) Stock Price Crosses Above 50 Day Moving Average Following Analyst Downgrade

Black Stone Minerals, L.P. (NYSE:BSM)’s share price passed above its fifty 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 fifty 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.

BSM has been the subject of a number of other research reports. Zacks Research raised shares of Black Stone Minerals from a “strong sell” rating to a “hold” rating in a research note on Friday, July 31st. Royal Bank Of Canada started coverage on shares of Black Stone Minerals in a research note on Friday, May 29th. They issued a “sector perform” rating and a $16.00 price target on the stock. Four investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average target price of $15.00.

Insider Buying and Selling

In other Black Stone Minerals news, Director James Whitehead sold 2,127,105 shares of the business’s 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 17.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Black Stone Minerals

A number of large investors have recently bought and sold shares of BSM. Abel Hall LLC bought a new position in shares of Black Stone Minerals in the 3rd quarter valued at approximately $143,000. Murphy Middleton Hinkle & Parker Inc. acquired a new stake in Black Stone Minerals in the 3rd quarter worth approximately $162,000. Ulland Investment Advisors LLC boosted its position in Black Stone Minerals by 26.6% during the third quarter. Ulland Investment Advisors LLC now owns 30,000 shares of the oil and gas producer’s stock worth $430,000 after purchasing an additional 6,300 shares during the period. IKE Capital LLC boosted its position in Black Stone Minerals by 6.2% during the second quarter. IKE Capital LLC now owns 17,000 shares of the oil and gas producer’s stock worth $237,000 after purchasing an additional 1,000 shares during the period. Finally, Tidal Investments LLC boosted its position in Black Stone Minerals by 72.8% during the second quarter. Tidal Investments LLC now owns 24,605 shares of the oil and gas producer’s stock worth $344,000 after purchasing an additional 10,366 shares during the period. 14.49% of the stock is currently owned by institutional investors.

Black Stone Minerals Stock Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 3.76. The firm has a fifty day simple moving average of $14.74 and a 200 day simple moving average of $14.28. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 12.04 and a beta of 0.15.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.23 by $0.24. The company had revenue of $148.97 million for the quarter, compared to analyst estimates of $108.28 million. Black Stone Minerals had a net margin of 61.72% and a return on equity of 41.48%. On average, sell-side analysts expect that Black Stone Minerals, L.P. will post 0.95 earnings per share for the current fiscal year.

Black Stone Minerals Company Profile

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.