Insider Buying: Black Stone Minerals (NYSE:BSM) Chairman Purchases $15,120.00 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) Chairman Thomas Carter, Jr. purchased 1,120 shares of the company’s stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $13.50 per share, for a total transaction of $15,120.00. Following the transaction, the chairman owned 3,682,724 shares of the company’s stock, valued at $49,716,774. This trade 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 is available at the SEC website.

Black Stone Minerals Trading Up 1.7%

NYSE BSM opened at $14.02 on Friday. The firm has a market cap of $2.98 billion, a P/E ratio of 11.04 and a beta of 0.07. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. The stock’s 50-day moving average is $14.47 and its 200-day moving average is $14.26. Black Stone Minerals, L.P. has a one year low of $11.78 and a one year high of $15.49.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.19). The business had revenue of $59.36 million for the quarter, compared to analyst estimates of $107.38 million. Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%. Sell-side analysts anticipate that Black Stone Minerals, L.P. will post 0.93 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors 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 8.6%. The ex-dividend date of this dividend was Friday, May 8th. Black Stone Minerals’s dividend payout ratio (DPR) is currently 94.49%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Zacks Research lowered Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Black Stone Minerals in a research report on Friday, April 24th. Finally, 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 report on Thursday, March 5th. Three investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Reduce” and a consensus target price of $14.00.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Farther Finance Advisors LLC grew 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 purchasing an additional 900 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new position in Black Stone Minerals in the fourth quarter valued at approximately $43,000. Newbridge Financial Services Group Inc. grew 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 purchasing an additional 1,962 shares in the last quarter. Summit Securities Group LLC bought a new position in Black Stone Minerals in the first quarter valued at approximately $83,000. Finally, Kestra Advisory Services LLC bought a new position in Black Stone Minerals in the fourth quarter valued at approximately $86,000. 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.