Black Stone Minerals (NYSE:BSM) Director Sells 11,128 Shares

Black Stone Minerals, L.P. (NYSE:BSM) Director Ashley Longmaid sold 11,128 shares of the company’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $13.45, for a total transaction of $149,671.60. Following the completion of the sale, the director owned 137,335 shares in the company, valued at $1,847,155.75. This represents a 7.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Black Stone Minerals Stock Up 0.1%

BSM stock traded up $0.02 during mid-day trading on Wednesday, reaching $13.54. 245,887 shares of the company traded hands, compared to its average volume of 420,892. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. The firm’s 50 day moving average price is $14.55 and its 200 day moving average price is $14.26. The stock has a market cap of $2.88 billion, a price-to-earnings ratio of 10.66 and a beta of 0.07. Black Stone Minerals, L.P. has a fifty-two week low of $11.78 and a fifty-two week high of $15.49.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.03 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 during the quarter, compared to analysts’ expectations of $107.38 million. As a group, equities research analysts predict that Black Stone Minerals, L.P. will post 0.93 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on BSM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Black Stone Minerals in a report on Friday, April 24th. Piper Sandler raised their price target on shares of Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Finally, Zacks Research cut 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 given a Sell rating to the company. Based on data from MarketBeat.com, Black Stone Minerals currently has a consensus rating of “Reduce” and a consensus price target of $14.00.

Institutional Trading of Black Stone Minerals

A number of hedge funds have recently bought and sold shares of the business. Northwestern University bought a new position in Black Stone Minerals in the 4th quarter valued at $15,671,000. Citigroup Inc. increased its position in shares of Black Stone Minerals by 36.2% during the 3rd quarter. Citigroup Inc. now owns 347,200 shares of the oil and gas producer’s stock valued at $4,562,000 after purchasing an additional 92,193 shares during the last quarter. Alps Advisors Inc. bought a new stake in shares of Black Stone Minerals during the 3rd quarter worth $478,000. Americana Partners LLC bought a new stake in shares of Black Stone Minerals during the 3rd quarter worth $532,000. Finally, Investment Management Associates Inc. ADV boosted its holdings in shares of Black Stone Minerals by 22.6% in the 3rd quarter. Investment Management Associates Inc. ADV now owns 1,934,739 shares of the oil and gas producer’s stock worth $25,422,000 after buying an additional 356,852 shares during the last quarter. 14.49% of the stock is currently owned by 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.