Black Stone Minerals (NYSE:BSM) Chairman Purchases $314,405.28 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) Chairman Thomas Carter, Jr. purchased 23,604 shares of Black Stone Minerals stock in a transaction on Friday, May 8th. The stock was purchased at an average price of $13.32 per share, for a total transaction of $314,405.28. Following the completion of the transaction, the chairman owned 3,637,450 shares of the company’s stock, valued at approximately $48,450,834. This represents a 0.65% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Black Stone Minerals Price Performance

NYSE:BSM traded up $0.12 on Tuesday, reaching $13.50. The stock had a trading volume of 454,388 shares, compared to its average volume of 422,681. The company has a market capitalization of $2.87 billion, a P/E ratio of 10.63 and a beta of 0.07. Black Stone Minerals, L.P. has a 1-year low of $11.78 and a 1-year high of $15.49. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. The stock has a fifty day moving average price of $14.58 and a 200-day moving average price of $14.25.

Black Stone Minerals (NYSE:BSM) last released 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). The firm had revenue of $59.36 million during the quarter, compared to analyst estimates of $107.38 million. Black Stone Minerals had a net margin of 61.67% and a return on equity of 42.40%. Research analysts forecast that Black Stone Minerals, L.P. will post 0.93 EPS for the current year.

Black Stone Minerals Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 8th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date is Friday, May 8th. Black Stone Minerals’s dividend payout ratio is presently 94.49%.

Hedge Funds Weigh In On Black Stone Minerals

Several large investors have recently bought and sold shares of the business. Morgan Stanley lifted its holdings in Black Stone Minerals by 57.1% in the fourth 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 during the period. Bank of America Corp DE increased its stake in 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. Penn Davis Mcfarland Inc. increased its stake in Black Stone Minerals by 2.5% in the fourth quarter. Penn Davis Mcfarland Inc. now owns 1,967,467 shares of the oil and gas producer’s stock valued at $26,148,000 after purchasing an additional 48,677 shares in the last quarter. Investment Management Associates Inc. ADV increased its stake in Black Stone Minerals by 22.6% in the third quarter. Investment Management Associates Inc. ADV now owns 1,934,739 shares of the oil and gas producer’s stock valued at $25,422,000 after purchasing an additional 356,852 shares in the last quarter. Finally, Northwestern University bought a new stake in Black Stone Minerals in the fourth quarter valued at approximately $15,671,000. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on BSM shares. Piper Sandler upped their target price on shares of Black Stone Minerals from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Zacks Research lowered shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Black Stone Minerals in a report on Friday, April 24th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Reduce” and an average price target of $14.00.

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.