Black Stone Minerals (NYSE:BSM) Chairman Purchases $314,405.28 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) Chairman Thomas Carter, Jr. purchased 23,604 shares of the business’s stock in a transaction dated Friday, May 8th. The shares were purchased at an average price of $13.32 per share, with a total value of $314,405.28. Following the purchase, the chairman directly owned 3,637,450 shares in the company, valued at $48,450,834. This trade represents a 0.65% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Black Stone Minerals Stock Up 1.5%

BSM stock opened at $13.76 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of 10.83 and a beta of 0.07. Black Stone Minerals, L.P. has a fifty-two week low of $11.78 and a fifty-two week high of $15.49. The stock has a fifty day moving average of $14.49 and a 200-day moving average of $14.27.

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

Black Stone Minerals Dividend Announcement

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

Analyst Ratings Changes

BSM has been the subject of several research reports. Zacks Research downgraded Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. 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 report on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Black Stone Minerals in a report on Friday, April 24th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Black Stone Minerals presently has an average rating of “Reduce” and an average target price of $14.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BSM. Royal Bank of Canada grew its holdings in Black Stone Minerals by 7.0% during the 1st quarter. Royal Bank of Canada now owns 119,894 shares of the oil and gas producer’s stock valued at $1,831,000 after buying an additional 7,818 shares in the last quarter. Invesco Ltd. grew its holdings in Black Stone Minerals by 10.2% during the 2nd quarter. Invesco Ltd. now owns 94,180 shares of the oil and gas producer’s stock valued at $1,232,000 after buying an additional 8,730 shares in the last quarter. Jump Financial LLC purchased a new position in Black Stone Minerals during the 2nd quarter valued at about $1,230,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Black Stone Minerals by 5.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 963,313 shares of the oil and gas producer’s stock valued at $12,600,000 after buying an additional 49,818 shares in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of Black Stone Minerals by 6.6% in the 2nd quarter. Raymond James Financial Inc. now owns 263,307 shares of the oil and gas producer’s stock valued at $3,444,000 after acquiring an additional 16,237 shares in the last quarter. Hedge funds and other institutional investors own 14.49% of the company’s stock.

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.