Black Stone Minerals (NYSE:BSM) Share Price Crosses Above 50 Day Moving Average – What’s Next?

Shares of Black Stone Minerals, L.P. (NYSE:BSM) passed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $13.83 and traded as high as $14.24. Black Stone Minerals shares last traded at $14.14, with a volume of 295,454 shares traded.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on BSM. Weiss Ratings restated a “hold (c-)” rating on shares of Black Stone Minerals in a research note on Monday, December 29th. KeyCorp reiterated a “sector weight” rating on shares of Black Stone Minerals in a report on Tuesday, November 4th. Finally, Zacks Research raised Black Stone Minerals from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Black Stone Minerals presently has a consensus rating of “Hold” and an average price target of $13.00.

Black Stone Minerals Price Performance

The company has a current ratio of 4.37, a quick ratio of 4.37 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average is $13.85 and its 200 day moving average is $13.11. The company has a market cap of $2.98 billion, a P/E ratio of 12.24 and a beta of 0.13.

Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. Black Stone Minerals had a return on equity of 40.08% and a net margin of 61.31%.The business had revenue of $132.47 million during the quarter, compared to the consensus estimate of $106.20 million. As a group, sell-side analysts anticipate that Black Stone Minerals, L.P. will post 1.36 EPS for the current year.

Institutional Investors Weigh In On Black Stone Minerals

Several institutional investors have recently added to or reduced their stakes in BSM. Penn Davis Mcfarland Inc. increased its stake in shares of Black Stone Minerals by 2.5% in the fourth quarter. Penn Davis Mcfarland Inc. now owns 1,967,467 shares of the oil and gas producer’s stock worth $26,148,000 after purchasing an additional 48,677 shares in the last quarter. Redhawk Wealth Advisors Inc. boosted its holdings in Black Stone Minerals by 39.1% in the 4th quarter. Redhawk Wealth Advisors Inc. now owns 15,885 shares of the oil and gas producer’s stock worth $211,000 after buying an additional 4,469 shares during the period. Exchange Traded Concepts LLC grew its stake in Black Stone Minerals by 16.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 49,829 shares of the oil and gas producer’s stock valued at $662,000 after buying an additional 7,128 shares in the last quarter. Moody National Bank Trust Division grew its stake in Black Stone Minerals by 5.7% in the 4th quarter. Moody National Bank Trust Division now owns 20,221 shares of the oil and gas producer’s stock valued at $269,000 after buying an additional 1,085 shares in the last quarter. Finally, Doliver Advisors LP raised its holdings in Black Stone Minerals by 2.5% during the 4th quarter. Doliver Advisors LP now owns 35,024 shares of the oil and gas producer’s stock valued at $465,000 after acquiring an additional 850 shares during the period. 14.49% of the stock is owned by hedge funds and other institutional investors.

Black Stone Minerals Company Profile

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.