Black Stone Minerals (NYSE:BSM) Chairman Buys $258,195.92 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) Chairman Thomas Carter, Jr. bought 19,154 shares of the stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $13.48 per share, for a total transaction of $258,195.92. Following the completion of the purchase, the chairman directly owned 3,681,604 shares in the company, valued at approximately $49,628,021.92. The trade was a 0.52% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Black Stone Minerals Trading Up 1.5%

Shares of BSM stock opened at $13.76 on Friday. The business’s 50 day moving average is $14.49 and its two-hundred day moving average is $14.27. Black Stone Minerals, L.P. has a twelve month low of $11.78 and a twelve month high of $15.49. The company has a market capitalization of $2.92 billion, a P/E ratio of 10.83 and a beta of 0.07. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24.

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

Black Stone Minerals Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have weighed in on BSM shares. Weiss Ratings reiterated 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 cut Black Stone Minerals from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus price target of $14.00.

Institutional Trading of Black Stone Minerals

Several hedge funds have recently modified their holdings of BSM. Morgan Stanley lifted its holdings in shares of Black Stone Minerals by 57.1% in the 4th quarter. Morgan Stanley now owns 7,107,673 shares of the oil and gas producer’s stock valued at $94,461,000 after buying an additional 2,582,823 shares during the period. Northwestern University acquired a new stake in shares of Black Stone Minerals in the 4th quarter valued at approximately $15,671,000. Saber Capital Managment LLC acquired a new stake in shares of Black Stone Minerals in the 4th quarter valued at approximately $8,389,000. Investment Management Associates Inc. ADV lifted 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 valued at $25,422,000 after buying an additional 356,852 shares during the period. Finally, ING Groep NV lifted its holdings in shares of Black Stone Minerals by 216.6% in the 3rd quarter. ING Groep NV now owns 509,700 shares of the oil and gas producer’s stock valued at $6,697,000 after buying an additional 348,700 shares during the period. 14.49% of the stock is owned by institutional investors and hedge funds.

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.