Black Stone Minerals (NYSE:BSM) Director James Whitehead Sells 2,127,105 Shares

Black Stone Minerals, L.P. (NYSE:BSM) Director James Whitehead sold 2,127,105 shares of the stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $13.21, for a total value of $28,099,057.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Black Stone Minerals Stock Up 1.6%

Shares of BSM traded up $0.22 during mid-day trading on Monday, reaching $14.32. The company’s stock had a trading volume of 340,132 shares, compared to its average volume of 398,962. The company has a quick ratio of 3.76, a current ratio of 3.76 and a debt-to-equity ratio of 0.24. Black Stone Minerals, L.P. has a 1 year low of $11.78 and a 1 year high of $15.49. The business has a fifty day moving average of $14.12 and a 200 day moving average of $14.40. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 11.83 and a beta of 0.04.

Black Stone Minerals (NYSE:BSM) last issued its earnings results on Monday, August 3rd. The oil and gas producer reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.24. The company had revenue of $148.97 million during the quarter, compared to analyst estimates of $108.28 million. Black Stone Minerals had a net margin of 61.72% and a return on equity of 41.48%. As a group, analysts forecast that Black Stone Minerals, L.P. will post 0.96 earnings per share for the current fiscal year.

Black Stone Minerals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th will be given a dividend of $0.32 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.28 dividend on an annualized basis and a yield of 8.9%. This is a positive change from Black Stone Minerals’s previous quarterly dividend of $0.30. Black Stone Minerals’s dividend payout ratio (DPR) is presently 105.79%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on BSM shares. Weiss Ratings lowered shares of Black Stone Minerals from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday. Zacks Research raised shares of Black Stone Minerals from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Finally, Royal Bank Of Canada started coverage on shares of Black Stone Minerals in a report on Friday, May 29th. They set a “sector perform” rating and a $16.00 price objective on the stock. Five investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $15.00.

Institutional Investors Weigh In On Black Stone Minerals

Institutional investors have recently bought and sold shares of the business. Morgan Stanley raised its stake in shares of Black Stone Minerals by 57.1% in the 4th quarter. Morgan Stanley now owns 7,107,673 shares of the oil and gas producer’s stock valued at $94,461,000 after buying an additional 2,582,823 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Black Stone Minerals by 2.2% in the third quarter. Bank of America Corp DE now owns 2,600,182 shares of the oil and gas producer’s stock valued at $34,166,000 after purchasing an additional 56,368 shares in the last quarter. Northwestern University acquired a new position in Black Stone Minerals during the 4th quarter worth $15,671,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted 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 worth $12,600,000 after buying an additional 49,818 shares in the last quarter. Finally, ING Groep NV boosted its position in Black Stone Minerals by 42.9% in the 4th quarter. ING Groep NV now owns 728,600 shares of the oil and gas producer’s stock valued at $9,683,000 after buying an additional 218,900 shares during the last quarter. Institutional investors and hedge funds 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.