Black Stone Minerals (NYSE:BSM) CEO Thomas Carter, Jr. Purchases 14,000 Shares

Black Stone Minerals, L.P. (NYSE:BSM) CEO Thomas Carter, Jr. bought 14,000 shares of the business’s stock in a transaction that occurred on Friday, September 12th. The stock was acquired at an average cost of $12.59 per share, with a total value of $176,260.00. Following the completion of the acquisition, the chief executive officer owned 3,512,701 shares of the company’s stock, valued at $44,224,905.59. This represents a 0.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Black Stone Minerals Trading Down 0.4%

BSM stock opened at $12.54 on Friday. The firm has a fifty day moving average price of $12.43 and a 200 day moving average price of $13.52. Black Stone Minerals, L.P. has a fifty-two week low of $11.78 and a fifty-two week high of $15.66. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.22 and a current ratio of 3.22. The firm has a market cap of $2.66 billion, a PE ratio of 10.81 and a beta of 0.29.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. The firm had revenue of $159.49 million during the quarter, compared to analyst estimates of $112.19 million. Black Stone Minerals had a net margin of 61.21% and a return on equity of 39.67%. Sell-side analysts anticipate that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current fiscal year.

Black Stone Minerals Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 9.6%. The ex-dividend date of this dividend was Thursday, August 7th. Black Stone Minerals’s payout ratio is presently 103.45%.

Institutional Trading of Black Stone Minerals

Several institutional investors and hedge funds have recently made changes to their positions in the business. Doliver Advisors LP lifted its position in shares of Black Stone Minerals by 2.6% during the first quarter. Doliver Advisors LP now owns 31,734 shares of the oil and gas producer’s stock worth $485,000 after purchasing an additional 791 shares during the last quarter. Vident Advisory LLC lifted its position in shares of Black Stone Minerals by 2.7% during the fourth quarter. Vident Advisory LLC now owns 31,738 shares of the oil and gas producer’s stock worth $463,000 after purchasing an additional 846 shares during the last quarter. Moors & Cabot Inc. lifted its position in shares of Black Stone Minerals by 1.4% during the second quarter. Moors & Cabot Inc. now owns 63,000 shares of the oil and gas producer’s stock worth $824,000 after purchasing an additional 900 shares during the last quarter. MAS Advisors LLC lifted its position in shares of Black Stone Minerals by 4.1% during the second quarter. MAS Advisors LLC now owns 26,176 shares of the oil and gas producer’s stock worth $342,000 after purchasing an additional 1,041 shares during the last quarter. Finally, IHT Wealth Management LLC lifted its position in shares of Black Stone Minerals by 5.1% during the second quarter. IHT Wealth Management LLC now owns 22,598 shares of the oil and gas producer’s stock worth $296,000 after purchasing an additional 1,104 shares during the last quarter. 14.49% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Separately, Piper Sandler dropped their price objective on shares of Black Stone Minerals from $14.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Black Stone Minerals presently has a consensus rating of “Hold” and an average price target of $13.00.

About Black Stone Minerals

Black Stone Minerals, L.P., together with its subsidiaries, owns and manages oil and natural gas mineral interests. It owns mineral interests in approximately 16.8 million gross acres, nonparticipating royalty interests in 1.8 million gross acres, and overriding royalty interests in 1.6 million gross acres located in 41 states in the United States.