Insider Selling: Black Stone Minerals (NYSE:BSM) SVP Sells $404,057.50 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) SVP Luke Stevens Putman sold 29,386 shares of the business’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $13.75, for a total value of $404,057.50. Following the sale, the senior vice president owned 702,645 shares in the company, valued at $9,661,368.75. The trade was a 4.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Luke Stevens Putman also recently made the following trade(s):

• On Monday, April 6th, Luke Stevens Putman sold 29,386 shares of Black Stone Minerals stock. The stock was sold at an average price of $14.45, for a total value of $424,627.70.
• On Thursday, March 5th, Luke Stevens Putman sold 30,276 shares of Black Stone Minerals stock. The stock was sold at an average price of $15.25, for a total value of $461,709.00.

Black Stone Minerals Price Performance

Shares of BSM stock opened at $13.29 on Friday. Black Stone Minerals, L.P. has a fifty-two week low of $11.78 and a fifty-two week high of $15.49. The firm has a market capitalization of $2.82 billion, a price-to-earnings ratio of 10.46 and a beta of 0.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.88 and a current ratio of 2.34. The stock’s 50-day simple moving average is $14.65 and its 200-day simple moving average is $14.24.

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

Black Stone Minerals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 8th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 9.0%. The ex-dividend date of this dividend is Friday, May 8th. Black Stone Minerals’s dividend payout ratio is presently 94.49%.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Black Stone Minerals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC boosted its stake in shares of Black Stone Minerals by 61.0% in the 4th quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 900 shares during the period. Garton & Associates Financial Advisors LLC acquired a new position in Black Stone Minerals during the fourth quarter worth approximately $43,000. Newbridge Financial Services Group Inc. increased its position in Black Stone Minerals by 65.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 4,943 shares of the oil and gas producer’s stock worth $66,000 after buying an additional 1,962 shares during the period. Summit Securities Group LLC acquired a new position in Black Stone Minerals during the first quarter worth approximately $83,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Black Stone Minerals during the fourth quarter worth $86,000. Hedge funds and other institutional investors own 14.49% of the company’s stock.

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.