Black Stone Minerals (NYSE:BSM) Director Buys $490,173.24 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) Director D Mark Dewalch purchased 36,363 shares of the company’s stock in a transaction that occurred on Friday, May 29th. The stock was bought at an average cost of $13.48 per share, for a total transaction of $490,173.24. Following the purchase, the director directly owned 594,885 shares in the company, valued at $8,019,049.80. This represents a 6.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

D Mark Dewalch also recently made the following trade(s):

• On Monday, June 1st, D Mark Dewalch purchased 36,363 shares of Black Stone Minerals stock. The stock was bought at an average cost of $13.62 per share, for a total transaction of $495,264.06.
• On Thursday, May 28th, D Mark Dewalch purchased 37,650 shares of Black Stone Minerals stock. The stock was bought at an average cost of $13.21 per share, for a total transaction of $497,356.50.

Black Stone Minerals Trading Down 0.0%

NYSE BSM opened at $13.92 on Friday. Black Stone Minerals, L.P. has a twelve month low of $11.78 and a twelve month high of $15.49. 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 stock has a market cap of $2.96 billion, a price-to-earnings ratio of 10.96 and a beta of 0.05. The firm’s 50 day moving average price is $14.04 and its two-hundred day moving average price is $14.31.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data 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). Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%.The firm had revenue of $59.36 million for the quarter, compared to analysts’ expectations of $107.38 million. Equities analysts anticipate that Black Stone Minerals, L.P. will post 0.92 EPS for the current year.

Black Stone Minerals Announces Dividend

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 dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 8.6%. The ex-dividend date was Friday, May 8th. Black Stone Minerals’s payout ratio is presently 94.49%.

Hedge Funds Weigh In On Black Stone Minerals

Several institutional investors and hedge funds have recently modified their holdings of BSM. Royal Bank of Canada grew its holdings in shares of 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 acquiring an additional 7,818 shares in the last quarter. Invesco Ltd. grew its holdings in shares of 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 acquiring an additional 8,730 shares in the last quarter. Jump Financial LLC purchased a new position in shares of Black Stone Minerals during the 2nd quarter valued at $1,230,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of 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 acquiring an additional 49,818 shares in the last quarter. Finally, Raymond James Financial Inc. grew its holdings in shares of Black Stone Minerals by 6.6% during 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. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Royal Bank Of Canada assumed coverage on shares of Black Stone Minerals in a research report on Friday, May 29th. They set a “sector perform” rating and a $16.00 price objective on the stock. Piper Sandler lifted their price objective on shares of Black Stone Minerals from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Black Stone Minerals in a research report on Friday, April 24th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Black Stone Minerals has an average rating of “Reduce” and a consensus price target of $15.00.

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.