Black Stone Minerals (NYSE:BSM) Director D Mark Dewalch Buys 37,650 Shares of Stock

Black Stone Minerals, L.P. (NYSE:BSM) Director D Mark Dewalch purchased 37,650 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The shares were acquired at an average cost of $13.21 per share, with a total value of $497,356.50. Following the completion of the transaction, the director owned 431,495 shares in the company, valued at $5,700,048.95. This trade represents a 9.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Black Stone Minerals Stock Up 0.3%

Shares of Black Stone Minerals stock opened at $13.33 on Friday. The company has a fifty day moving average price of $14.20 and a 200 day moving average price of $14.31. 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, L.P. has a twelve month low of $11.78 and a twelve month high of $15.49. The stock has a market cap of $2.83 billion, a price-to-earnings ratio of 10.49 and a beta of 0.07.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $59.36 million for the quarter, compared to analysts’ expectations of $107.38 million. Equities research analysts forecast that Black Stone Minerals, L.P. will post 0.93 earnings per share for the current fiscal year.

Black Stone Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 9.0%. The ex-dividend date of this dividend was Friday, May 8th. Black Stone Minerals’s dividend payout ratio is presently 94.49%.

Institutional Investors Weigh In On Black Stone Minerals

Several hedge funds and other institutional investors have recently modified their holdings of BSM. Farther Finance Advisors LLC lifted its position in shares of Black Stone Minerals by 61.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 900 shares during the last quarter. Axiom Investment Management LLC bought a new position in shares of Black Stone Minerals during the first quarter worth about $37,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Black Stone Minerals during the fourth quarter worth about $43,000. Newbridge Financial Services Group Inc. lifted its position in shares of Black Stone Minerals by 65.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 4,943 shares of the oil and gas producer’s stock worth $66,000 after purchasing an additional 1,962 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in shares of Black Stone Minerals during the first quarter worth about $83,000. Institutional investors own 14.49% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BSM shares. Piper Sandler upped their price objective 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. Royal Bank Of Canada started coverage on shares of Black Stone Minerals in a research report on Friday. They issued a “sector perform” rating and a $16.00 price objective for the company. Weiss Ratings reissued a “hold (c)” rating on shares of Black Stone Minerals in a research report on Friday, April 24th. Finally, Zacks Research cut shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Four investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $15.00.

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.