Insider Buying: Black Stone Minerals (NYSE:BSM) Chairman Acquires 1,120 Shares of Stock

Black Stone Minerals, L.P. (NYSE:BSM) Chairman Thomas Carter, Jr. acquired 1,120 shares of the stock in a transaction dated Wednesday, May 13th. The stock was bought at an average cost of $13.50 per share, with a total value of $15,120.00. Following the completion of the purchase, the chairman directly owned 3,682,724 shares in the company, valued at approximately $49,716,774. The trade was a 0.03% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Black Stone Minerals Trading Up 1.5%

Shares of NYSE:BSM traded up $0.21 during trading on Thursday, hitting $13.76. The company had a trading volume of 488,396 shares, compared to its average volume of 421,681. The stock has a market cap of $2.92 billion, a price-to-earnings ratio of 10.83 and a beta of 0.07. Black Stone Minerals, L.P. has a one year low of $11.78 and a one year high of $15.49. The company has a fifty day simple moving average of $14.52 and a two-hundred day simple moving average of $14.26. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.19). The company had revenue of $59.36 million during the quarter, compared to the consensus estimate of $107.38 million. Black Stone Minerals had a net margin of 61.67% and a return on equity of 42.40%. As a group, equities analysts forecast that Black Stone Minerals, L.P. will post 0.93 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 8th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend is Friday, May 8th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 94.49%.

Institutional Investors Weigh In On Black Stone Minerals

Several hedge funds and other institutional investors have recently modified their holdings of the business. Morgan Stanley raised its holdings in shares of 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 worth $94,461,000 after buying an additional 2,582,823 shares during the period. Bank of America Corp DE raised 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 worth $34,166,000 after buying an additional 56,368 shares during the period. Penn Davis Mcfarland Inc. raised its holdings in shares of 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 worth $26,148,000 after buying an additional 48,677 shares during the period. Investment Management Associates Inc. ADV raised its holdings in shares of 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 worth $25,422,000 after buying an additional 356,852 shares during the period. Finally, Northwestern University purchased a new stake in shares of Black Stone Minerals in the fourth quarter worth approximately $15,671,000. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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