Black Stone Minerals, L.P. (NYSE:BSM) CEO Acquires $196,040.00 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) CEO Thomas L. Carter, Jr. bought 14,500 shares of the company’s stock in a transaction dated Wednesday, May 21st. The stock was purchased at an average cost of $13.52 per share, for a total transaction of $196,040.00. Following the completion of the transaction, the chief executive officer now owns 3,349,621 shares of the company’s stock, valued at $45,286,875.92. This represents a 0.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Black Stone Minerals Stock Up 0.3%

NYSE BSM opened at $13.51 on Friday. The company has a 50 day moving average price of $14.29 and a two-hundred day moving average price of $14.70. Black Stone Minerals, L.P. has a 12-month low of $12.80 and a 12-month high of $16.30. The stock has a market capitalization of $2.85 billion, a PE ratio of 8.34 and a beta of 0.34.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.21). Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. The firm had revenue of $83.73 million during the quarter, compared to analyst estimates of $115.46 million. As a group, equities analysts anticipate that Black Stone Minerals, L.P. will post 1.36 EPS for the current year.

Black Stone Minerals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 11.11%. The ex-dividend date was Thursday, May 8th. Black Stone Minerals’s payout ratio is currently 163.04%.

Hedge Funds Weigh In On Black Stone Minerals

A number of hedge funds have recently made changes to their positions in BSM. Annandale Capital LLC grew its holdings in shares of Black Stone Minerals by 5.5% in the 4th quarter. Annandale Capital LLC now owns 14,382 shares of the oil and gas producer’s stock worth $210,000 after purchasing an additional 747 shares during the last quarter. Doliver Advisors LP grew its holdings in shares of Black Stone Minerals by 2.6% in the 1st quarter. Doliver Advisors LP now owns 31,734 shares of the oil and gas producer’s stock worth $485,000 after purchasing an additional 791 shares during the last quarter. Vident Advisory LLC grew its holdings in shares of Black Stone Minerals by 2.7% in the 4th quarter. Vident Advisory LLC now owns 31,738 shares of the oil and gas producer’s stock worth $463,000 after purchasing an additional 846 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Black Stone Minerals by 100.0% in the 4th quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Fiduciary Group LLC grew its holdings in shares of Black Stone Minerals by 7.1% in the 1st quarter. Fiduciary Group LLC now owns 21,218 shares of the oil and gas producer’s stock worth $324,000 after purchasing an additional 1,406 shares during the last quarter. Institutional investors and hedge funds own 14.49% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BSM. Royal Bank of Canada raised shares of Black Stone Minerals to a “hold” rating in a research report on Friday, March 14th. Piper Sandler dropped their target price on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th. Finally, Wall Street Zen downgraded shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th.

About Black Stone Minerals

Black Stone Minerals, L.P., together with its subsidiaries, owns and manages oil and natural gas mineral interests. It owns mineral interests in approximately 16.8 million gross acres, nonparticipating royalty interests in 1.8 million gross acres, and overriding royalty interests in 1.6 million gross acres located in 41 states in the United States.