Black Stone Minerals LP (NYSE:BSM) SVP Brock Morris sold 17,400 shares of the stock in a transaction dated Wednesday, September 12th. The shares were sold at an average price of $18.58, for a total transaction of $323,292.00. Following the completion of the transaction, the senior vice president now directly owns 299,990 shares in the company, valued at $5,573,814.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
NYSE:BSM traded down $0.32 during mid-day trading on Wednesday, reaching $18.55. 320,600 shares of the company’s stock were exchanged, compared to its average volume of 150,082. Black Stone Minerals LP has a one year low of $16.36 and a one year high of $19.29. The firm has a market cap of $3.75 billion, a price-to-earnings ratio of 18.73 and a beta of 0.37. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.16 and a current ratio of 1.16.
The firm also recently declared a quarterly dividend, which was paid on Thursday, August 23rd. Investors of record on Thursday, August 16th were given a dividend of $0.338 per share. This represents a $1.35 dividend on an annualized basis and a yield of 7.29%. The ex-dividend date was Wednesday, August 15th. Black Stone Minerals’s dividend payout ratio is 133.66%.
BSM has been the topic of several research analyst reports. Zacks Investment Research raised shares of Black Stone Minerals from a “strong sell” rating to a “hold” rating in a research report on Tuesday, May 15th. Stifel Nicolaus set a $21.00 price target on shares of Black Stone Minerals and gave the stock a “buy” rating in a research report on Tuesday, August 7th. Finally, Scotiabank raised shares of Black Stone Minerals from a “sector perform” rating to an “outperform” rating in a research report on Monday, June 25th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $19.80.
A number of large investors have recently added to or reduced their stakes in BSM. Yost Capital Management L.L.C. grew its stake in Black Stone Minerals by 4.7% during the first quarter. Yost Capital Management L.L.C. now owns 181,262 shares of the oil and gas producer’s stock worth $3,000,000 after buying an additional 8,200 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Black Stone Minerals by 176.9% during the second quarter. Tower Research Capital LLC TRC now owns 15,791 shares of the oil and gas producer’s stock worth $292,000 after buying an additional 10,089 shares in the last quarter. Citadel Advisors LLC grew its stake in Black Stone Minerals by 82.6% during the first quarter. Citadel Advisors LLC now owns 24,650 shares of the oil and gas producer’s stock worth $408,000 after buying an additional 11,150 shares in the last quarter. Rockefeller Capital Management L.P. acquired a new stake in Black Stone Minerals during the first quarter worth about $185,000. Finally, Bank of Montreal Can grew its stake in Black Stone Minerals by 18.3% during the second quarter. Bank of Montreal Can now owns 111,434 shares of the oil and gas producer’s stock worth $2,060,000 after buying an additional 17,249 shares in the last quarter. 13.46% of the stock is currently owned by institutional investors and hedge funds.
Black Stone Minerals Company Profile
Black Stone Minerals, L.P. owns and manages oil and natural gas mineral interests in the United States. The company owns mineral interests in approximately 16.8 million acres, nonparticipating royalty interests in 1.9 million acres, and overriding royalty interests in 2.1 million acres located in 41 states and in 64 onshore basins in the continental United States.
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