Black Stone Minerals (NYSE:BSM) Chairman Thomas Carter, Jr. Purchases 50,000 Shares of Stock

Black Stone Minerals, L.P. (NYSE:BSM) Chairman Thomas Carter, Jr. bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were acquired at an average price of $13.73 per share, with a total value of $686,500.00. Following the purchase, the chairman owned 3,732,724 shares of the company’s stock, valued at $51,250,300.52. The trade was a 1.36% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Black Stone Minerals Stock Performance

Shares of BSM opened at $13.64 on Wednesday. The company has a market capitalization of $2.90 billion, a price-to-earnings ratio of 10.82 and a beta of 0.14. Black Stone Minerals, L.P. has a 52-week low of $12.95 and a 52-week high of $15.49. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.25. The stock has a 50 day moving average price of $14.69 and a 200 day moving average price of $14.50.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings data on Monday, November 2nd. The oil and gas producer reported $0.21 earnings per share for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). The company had revenue of $99.73 million for the quarter, compared to analyst estimates of $116.41 million. Black Stone Minerals had a return on equity of 36.99% and a net margin of 57.23%. Research analysts predict that Black Stone Minerals, L.P. will post 0.70 EPS for the current fiscal year.

Black Stone Minerals Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, November 6th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 10.3%. The ex-dividend date is Friday, November 6th. This is a positive change from Black Stone Minerals’s previous quarterly dividend of $0.32. Black Stone Minerals’s dividend payout ratio (DPR) is currently 137.25%.

Institutional Trading of Black Stone Minerals

Institutional investors and hedge funds have recently made changes to their positions in the company. Arrow Investment Advisors LLC grew its stake in Black Stone Minerals by 11.2% during the 3rd quarter. Arrow Investment Advisors LLC now owns 17,184 shares of the oil and gas producer’s stock worth $246,000 after buying an additional 1,724 shares during the last quarter. Next Level Wealth Planning LLC acquired a new position in Black Stone Minerals during the third quarter worth approximately $25,000. GraniteShares Advisors LLC increased its position in Black Stone Minerals by 1.6% during the third quarter. GraniteShares Advisors LLC now owns 209,494 shares of the oil and gas producer’s stock worth $3,000,000 after buying an additional 3,240 shares during the period. Rahlfs Capital LLC increased its position in Black Stone Minerals by 21.5% during the third quarter. Rahlfs Capital LLC now owns 121,562 shares of the oil and gas producer’s stock worth $1,741,000 after buying an additional 21,500 shares during the period. Finally, Abel Hall LLC purchased a new stake in Black Stone Minerals in the third quarter valued at approximately $143,000. 14.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on BSM shares. Weiss Ratings upgraded shares of Black Stone Minerals from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. Zacks Research cut shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report on Friday, October 16th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Black Stone Minerals currently has an average rating of “Reduce” and an average price target of $15.00.

Black Stone Minerals Company Profile

Black Stone Minerals, L.P. is a Houston-based owner of oil and natural gas mineral and royalty interests. The company leases these interests to exploration and production companies, which develop and operate the properties. Black Stone Minerals generally does not drill wells itself. Instead, it earns royalties and other payments tied to production from wells on its properties, including oil, natural gas and natural gas liquids. Its portfolio spans multiple onshore oil and gas regions across the United States, including areas in the Permian Basin, Haynesville shale and Eagle Ford.