Black Stone Minerals (NYSE:BSM) Sees Large Volume Increase – Here’s Why

Black Stone Minerals, L.P. (NYSE:BSM) saw strong trading volume on Wednesday . 296,238 shares traded hands during mid-day trading, a decline of 25% from the previous session’s volume of 395,465 shares.The stock last traded at $15.03 and had previously closed at $14.89.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BSM shares. 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 target for the company. 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. Finally, Zacks Research raised shares of Black Stone Minerals from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $15.00.

Black Stone Minerals Price Performance

The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 3.76. The stock has a fifty day simple moving average of $14.36 and a 200-day simple moving average of $14.39. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 12.33 and a beta of 0.04.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, August 3rd. The oil and gas producer reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.24. Black Stone Minerals had a net margin of 61.72% and a return on equity of 41.48%. The firm had revenue of $148.97 million during the quarter, compared to analyst estimates of $108.28 million. On average, equities research analysts anticipate that Black Stone Minerals, L.P. will post 1.01 EPS for the current year.

Black Stone Minerals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th were issued a $0.32 dividend. The ex-dividend date of this dividend was Thursday, August 6th. This is a positive change from Black Stone Minerals’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 8.6%. Black Stone Minerals’s dividend payout ratio is presently 105.79%.

Insider Transactions at Black Stone Minerals

In other Black Stone Minerals news, Director D Mark Dewalch bought 36,363 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were purchased at an average cost of $13.62 per share, for a total transaction of $495,264.06. Following the transaction, the director directly owned 631,248 shares of the company’s stock, valued at approximately $8,597,597.76. The trade was a 6.11% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director James Whitehead sold 2,127,105 shares of Black Stone Minerals stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $13.21, for a total value of $28,099,057.05. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 17.70% of the company’s stock.

Institutional Trading of Black Stone Minerals

Several institutional investors have recently bought and sold shares of the business. ING Groep NV raised its stake in shares of Black Stone Minerals by 42.9% during the 4th quarter. ING Groep NV now owns 728,600 shares of the oil and gas producer’s stock worth $9,683,000 after buying an additional 218,900 shares during the period. Cullen Frost Bankers Inc. grew its stake in Black Stone Minerals by 154.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 143,484 shares of the oil and gas producer’s stock valued at $1,907,000 after acquiring an additional 87,172 shares during the period. Rare Wolf Capital LLC acquired a new stake in Black Stone Minerals in the 4th quarter valued at $968,000. Americana Partners LLC increased its holdings in Black Stone Minerals by 212.4% in the 4th quarter. Americana Partners LLC now owns 126,427 shares of the oil and gas producer’s stock worth $1,680,000 after acquiring an additional 85,956 shares in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in Black Stone Minerals by 140.2% in the 4th quarter. Corient Private Wealth LLC now owns 207,367 shares of the oil and gas producer’s stock worth $2,756,000 after acquiring an additional 121,043 shares in the last quarter. 14.49% of the stock is owned by institutional investors and hedge funds.

About Black Stone Minerals

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.