Black Stone Minerals (NYSE:BSM) Chairman Thomas Carter Jr Buys 23,604 Shares

Black Stone Minerals, L.P. (NYSE:BSM) Chairman Thomas Carter, Jr. bought 23,604 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was purchased at an average price of $13.32 per share, for a total transaction of $314,405.28. Following the acquisition, the chairman directly owned 3,637,450 shares in the company, valued at approximately $48,450,834. This trade represents a 0.65% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Black Stone Minerals Stock Performance

BSM traded up $0.12 during trading on Tuesday, hitting $13.50. The stock had a trading volume of 454,388 shares, compared to its average volume of 422,681. The firm has a market cap of $2.87 billion, a PE ratio of 10.63 and a beta of 0.07. Black Stone Minerals, L.P. has a 12 month low of $11.78 and a 12 month high of $15.49. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24. The company has a 50 day simple moving average of $14.58 and a 200-day simple moving average of $14.25.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.19). Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%.The company had revenue of $59.36 million for the quarter, compared to the consensus estimate of $107.38 million. Analysts expect that Black Stone Minerals, L.P. will post 0.93 EPS for the current year.

Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 8th will be issued a dividend of $0.30 per share. The ex-dividend date is Friday, May 8th. This represents a $1.20 annualized dividend and a dividend yield of 8.9%. Black Stone Minerals’s payout ratio is presently 94.49%.

Analyst Upgrades and Downgrades

BSM has been the topic of several research reports. Piper Sandler boosted their price objective on shares of Black Stone Minerals from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Weiss Ratings restated a “hold (c)” rating on shares of Black Stone Minerals in a report on Friday, April 24th. Finally, Zacks Research downgraded shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Black Stone Minerals currently has an average rating of “Reduce” and a consensus price target of $14.00.

Institutional Trading of Black Stone Minerals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its stake in Black Stone Minerals by 61.0% in the fourth quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 900 shares during the period. Garton & Associates Financial Advisors LLC bought a new stake in Black Stone Minerals in the fourth quarter valued at about $43,000. Newbridge Financial Services Group Inc. increased its stake in Black Stone Minerals by 65.8% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 4,943 shares of the oil and gas producer’s stock valued at $66,000 after acquiring an additional 1,962 shares during the period. Summit Securities Group LLC bought a new stake in Black Stone Minerals in the first quarter valued at about $83,000. Finally, Kestra Advisory Services LLC bought a new stake in Black Stone Minerals in the fourth quarter valued at about $86,000. Institutional investors own 14.49% of the company’s stock.

About Black Stone Minerals

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.