Black Stone Minerals LP (NYSE:BSM) Director D Mark Dewalch acquired 1,175 shares of the business’s stock in a transaction dated Friday, November 16th. The shares were bought at an average cost of $17.06 per share, with a total value of $20,045.50. Following the transaction, the director now directly owns 92,565 shares of the company’s stock, valued at approximately $1,579,158.90. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Shares of BSM traded up $0.21 during trading hours on Monday, reaching $17.23. 187,500 shares of the company traded hands, compared to its average volume of 146,260. The firm has a market capitalization of $3.49 billion, a P/E ratio of 17.06 and a beta of 0.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.02. Black Stone Minerals LP has a 1-year low of $16.36 and a 1-year high of $19.29.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 14th will be given a dividend of $0.37 per share. The ex-dividend date is Tuesday, November 13th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.59%. This is a positive change from Black Stone Minerals’s previous quarterly dividend of $0.34. Black Stone Minerals’s dividend payout ratio is currently 146.53%.

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in Black Stone Minerals by 176.9% in the second quarter. Tower Research Capital LLC TRC now owns 15,791 shares of the oil and gas producer’s stock worth $292,000 after purchasing an additional 10,089 shares in the last quarter. California Public Employees Retirement System acquired a new position in Black Stone Minerals in the second quarter worth about $323,000. SCP Investment LP acquired a new position in Black Stone Minerals in the third quarter worth about $488,000. Royal Bank of Canada raised its position in Black Stone Minerals by 100.5% in the first quarter. Royal Bank of Canada now owns 41,899 shares of the oil and gas producer’s stock worth $694,000 after purchasing an additional 21,000 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Black Stone Minerals by 99.5% in the first quarter. Wells Fargo & Company MN now owns 55,261 shares of the oil and gas producer’s stock worth $915,000 after purchasing an additional 27,557 shares in the last quarter. 13.95% of the stock is owned by institutional investors and hedge funds.

BSM has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Black Stone Minerals from a “strong sell” rating to a “hold” rating in a research report on Wednesday, September 19th. Stifel Nicolaus set a $21.00 price objective on shares of Black Stone Minerals and gave the company a “buy” rating in a research report on Tuesday, August 7th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $19.50.

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About Black Stone Minerals

Black Stone Minerals, L.P. owns and manages oil and natural gas mineral interests in the United States. The company owns mineral interests in approximately 16.8 million acres, nonparticipating royalty interests in 1.9 million acres, and overriding royalty interests in 2.1 million acres located in 41 states and in 64 onshore basins in the continental United States.

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