Black Stone Minerals (NYSE:BSM) Stock Price Crosses Below 200 Day Moving Average – Should You Sell?

Shares of Black Stone Minerals, L.P. (NYSE:BSM) passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $14.92 and traded as low as $14.90. Black Stone Minerals shares last traded at $14.92, with a volume of 405,716 shares changing hands.

Wall Street Analyst Weigh In

Several analysts recently issued reports on BSM shares. Piper Sandler cut their target price on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a research 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, December 16th.

Black Stone Minerals Stock Performance

The firm has a market capitalization of $3.14 billion, a PE ratio of 9.21 and a beta of 0.96. The company has a fifty day moving average price of $14.86 and a 200-day moving average price of $14.92.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.06. The business had revenue of $134.86 million during the quarter, compared to analyst estimates of $117.68 million. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. During the same period last year, the company earned $0.27 EPS. On average, equities analysts predict that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Hedge Funds Weigh In On Black Stone Minerals

Institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC bought a new position in Black Stone Minerals in the third quarter worth about $54,000. JPMorgan Chase & Co. purchased a new position in shares of Black Stone Minerals in the 3rd quarter worth approximately $76,000. BCS Wealth Management raised its stake in shares of Black Stone Minerals by 15.1% during the 3rd quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock worth $213,000 after acquiring an additional 1,852 shares in the last quarter. Indie Asset Partners LLC purchased a new stake in Black Stone Minerals during the third quarter valued at approximately $234,000. Finally, Redhawk Wealth Advisors Inc. boosted its stake in Black Stone Minerals by 10.1% in the third quarter. Redhawk Wealth Advisors Inc. now owns 16,005 shares of the oil and gas producer’s stock valued at $242,000 after acquiring an additional 1,465 shares in the last quarter. Hedge funds and other institutional investors own 14.49% of the company’s stock.

About Black Stone Minerals

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.