Black Stone Minerals (NYSE:BSM) Stock: Insider James Whitehead Sells 671,210 Shares

Black Stone Minerals, L.P. (NYSE:BSM) Director James Whitehead sold 671,210 shares of the company’s stock in a transaction on Monday, November 9th. The shares were sold at an average price of $13.42, for a total transaction of $9,007,638.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Black Stone Minerals Trading Up 2.2%

NYSE BSM opened at $13.97 on Thursday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.78 and a quick ratio of 1.78. The firm has a market cap of $2.97 billion, a P/E ratio of 13.70 and a beta of 0.14. The stock’s 50-day moving average is $14.67 and its 200-day moving average is $14.49. Black Stone Minerals, L.P. has a one year low of $12.95 and a one year high of $15.49.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results 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). Black Stone Minerals had a net margin of 57.23% and a return on equity of 36.99%. The company had revenue of $99.73 million during the quarter, compared to the consensus estimate of $116.41 million. Sell-side analysts anticipate that Black Stone Minerals, L.P. will post 0.70 earnings per share for the current fiscal year.

Black Stone Minerals Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 6th will be paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 10.0%. The ex-dividend date is Friday, November 6th. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.32. Black Stone Minerals’s dividend payout ratio (DPR) is presently 137.25%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on BSM shares. 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. Weiss Ratings raised shares of Black Stone Minerals from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce” and an average price target of $15.00.

Institutional Trading of Black Stone Minerals

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Next Level Wealth Planning LLC acquired a new position in Black Stone Minerals during the 3rd quarter worth about $25,000. Ancora Advisors LLC bought a new position in Black Stone Minerals during the 2nd quarter worth approximately $31,000. Axiom Investment Management LLC bought a new position in Black Stone Minerals during the 1st quarter worth approximately $37,000. Abel Hall LLC bought a new position in Black Stone Minerals during the 3rd quarter worth approximately $143,000. Finally, SteelPeak Wealth LLC acquired a new position in shares of Black Stone Minerals in the 1st quarter worth approximately $166,000. Institutional investors own 14.49% of the company’s stock.

About Black Stone Minerals

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.