D Mark Dewalch Buys 36,363 Shares of Black Stone Minerals (NYSE:BSM) Stock

Black Stone Minerals, L.P. (NYSE:BSM) Director D Mark Dewalch acquired 36,363 shares of the stock in a transaction on Friday, May 29th. The shares were purchased at an average price of $13.48 per share, for a total transaction of $490,173.24. Following the transaction, the director directly owned 594,885 shares in the company, valued at approximately $8,019,049.80. This trade represents a 6.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at 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 price 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 price of $13.21 per share, for a total transaction of $497,356.50.

Black Stone Minerals Stock Up 2.3%

Shares of NYSE BSM opened at $13.92 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. Black Stone Minerals, L.P. has a 52 week low of $11.78 and a 52 week high of $15.49. The stock has a market capitalization of $2.96 billion, a P/E ratio of 10.96 and a beta of 0.05. The stock’s fifty day moving average is $14.07 and its 200 day moving average is $14.31.

Black Stone Minerals (NYSE:BSM) last issued 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). Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%.The company had revenue of $59.36 million during the quarter, compared to the consensus estimate of $107.38 million. Sell-side analysts forecast that Black Stone Minerals, L.P. will post 0.92 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were given a $0.30 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.6%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 94.49%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BSM. Farther Finance Advisors LLC grew its position 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 acquiring an additional 900 shares during the last quarter. Axiom Investment Management LLC bought a new position in Black Stone Minerals in the first quarter valued at about $37,000. Garton & Associates Financial Advisors LLC bought a new position in Black Stone Minerals in the fourth quarter valued at about $43,000. Newbridge Financial Services Group Inc. grew its position 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 acquiring an additional 1,962 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in Black Stone Minerals in the first quarter valued at about $83,000. Institutional investors own 14.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Royal Bank Of Canada assumed coverage on Black Stone Minerals in a research report on Friday, May 29th. They issued a “sector perform” rating and a $16.00 price target on the stock. Zacks Research cut Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Piper Sandler raised their price target on Black Stone Minerals from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. 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 given a Sell rating to the stock. According to 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. (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.