Black Stone Minerals (NYSE:BSM) Chairman Thomas Carter Jr Acquires 1,120 Shares

Black Stone Minerals, L.P. (NYSE:BSM) Chairman Thomas Carter, Jr. purchased 1,120 shares of Black Stone Minerals stock in a transaction on Wednesday, May 13th. The stock was bought at an average price of $13.50 per share, with a total value of $15,120.00. Following the transaction, the chairman owned 3,682,724 shares of the company’s stock, valued at approximately $49,716,774. This represents a 0.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Black Stone Minerals Price Performance

Shares of NYSE:BSM traded up $0.21 during trading on Thursday, hitting $13.76. 488,396 shares of the company’s stock were exchanged, compared to its average volume of 421,681. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. Black Stone Minerals, L.P. has a 52-week low of $11.78 and a 52-week high of $15.49. The business’s 50-day simple moving average is $14.52 and its 200 day simple moving average is $14.26. The company has a market cap of $2.92 billion, a price-to-earnings ratio of 10.83 and a beta of 0.07.

Black Stone Minerals (NYSE:BSM) last issued its earnings results 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). The business had revenue of $59.36 million for the quarter, compared to the consensus estimate of $107.38 million. Black Stone Minerals had a net margin of 61.67% and a return on equity of 42.40%. As a group, equities analysts predict that Black Stone Minerals, L.P. will post 0.93 EPS for the current year.

Black Stone Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 8th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 8.7%. The ex-dividend date of this dividend is Friday, May 8th. Black Stone Minerals’s dividend payout ratio (DPR) is 94.49%.

Hedge Funds Weigh In On Black Stone Minerals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern University bought a new position in Black Stone Minerals during the fourth quarter valued at approximately $15,671,000. Citigroup Inc. boosted its stake in Black Stone Minerals by 36.2% during the third quarter. Citigroup Inc. now owns 347,200 shares of the oil and gas producer’s stock valued at $4,562,000 after buying an additional 92,193 shares during the last quarter. Alps Advisors Inc. bought a new position in Black Stone Minerals during the third quarter valued at approximately $478,000. Americana Partners LLC bought a new position in Black Stone Minerals during the third quarter valued at approximately $532,000. Finally, Investment Management Associates Inc. ADV boosted its stake in Black Stone Minerals by 22.6% during the third quarter. Investment Management Associates Inc. ADV now owns 1,934,739 shares of the oil and gas producer’s stock valued at $25,422,000 after buying an additional 356,852 shares during the last quarter. 14.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on BSM shares. Weiss Ratings reissued a “hold (c)” rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Piper Sandler lifted their target price on Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Finally, Zacks Research downgraded Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $14.00.

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.