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

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

Black Stone Minerals Stock Down 0.1%

Black Stone Minerals stock opened at $13.47 on Friday. Black Stone Minerals, L.P. has a twelve month low of $12.80 and a twelve month high of $16.30. The company has a market capitalization of $2.84 billion, a P/E ratio of 8.31 and a beta of 0.34. The stock’s 50 day moving average is $14.33 and its 200 day moving average is $14.71.

Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, February 24th. The oil and gas producer reported $0.18 EPS 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 company had revenue of $83.73 million during the quarter, compared to analysts’ expectations of $115.46 million. As a group, equities analysts expect that Black Stone Minerals, L.P. will post 1.36 EPS for the current year.

Black Stone Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 11.14%. The ex-dividend date was Thursday, May 8th. Black Stone Minerals’s dividend payout ratio (DPR) is 163.04%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of BSM. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Black Stone Minerals by 3,141.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 913,495 shares of the oil and gas producer’s stock valued at $13,949,000 after buying an additional 885,311 shares during the last quarter. Cresset Asset Management LLC lifted its position in Black Stone Minerals by 500.5% in the 4th quarter. Cresset Asset Management LLC now owns 596,853 shares of the oil and gas producer’s stock valued at $8,714,000 after acquiring an additional 497,457 shares in the last quarter. Investment Management Associates Inc. ADV boosted its stake in Black Stone Minerals by 30.8% during the 4th quarter. Investment Management Associates Inc. ADV now owns 1,544,182 shares of the oil and gas producer’s stock valued at $22,545,000 after purchasing an additional 363,962 shares during the last quarter. Aptus Capital Advisors LLC purchased a new stake in Black Stone Minerals during the 4th quarter valued at $4,876,000. Finally, Northern Trust Corp bought a new stake in shares of Black Stone Minerals in the 4th quarter worth $4,428,000. 14.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BSM has been the subject of a number of research reports. Piper Sandler decreased their price objective on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th. Royal Bank of Canada upgraded shares of Black Stone Minerals to a “hold” rating in a research note on Friday, March 14th. Finally, Wall Street Zen lowered shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research note 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.