Black Stone Minerals (NYSE:BSM) CEO Purchases $239,400.00 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) CEO Thomas Carter, Jr. acquired 20,000 shares of the business’s stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $11.97 per share, with a total value of $239,400.00. Following the transaction, the chief executive officer owned 3,451,031 shares in the company, valued at $41,308,841.07. The trade was a 0.58% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Black Stone Minerals Stock Up 1.7%

Shares of Black Stone Minerals stock opened at $12.3320 on Friday. The company has a market cap of $2.61 billion, a P/E ratio of 10.63 and a beta of 0.28. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.22 and a current ratio of 3.22. Black Stone Minerals, L.P. has a one year low of $11.90 and a one year high of $15.66. The firm has a fifty day moving average of $12.71 and a two-hundred day moving average of $13.82.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, August 4th. The oil and gas producer reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.23. The company had revenue of $159.49 million during the quarter, compared to the consensus estimate of $112.19 million. Black Stone Minerals had a net margin of 61.21% and a return on equity of 39.67%. On average, analysts forecast that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.7%. Black Stone Minerals’s dividend payout ratio is presently 103.45%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BSM shares. Piper Sandler cut their price target on shares of Black Stone Minerals from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, August 14th. Wall Street Zen downgraded shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $13.00.

Institutional Investors Weigh In On Black Stone Minerals

A number of large investors have recently added to or reduced their stakes in the business. Northern Trust Corp acquired a new stake in shares of Black Stone Minerals during the 4th quarter worth about $4,428,000. Penn Davis Mcfarland Inc. lifted its holdings in shares of Black Stone Minerals by 16.3% during the 1st quarter. Penn Davis Mcfarland Inc. now owns 1,861,741 shares of the oil and gas producer’s stock worth $28,429,000 after acquiring an additional 260,559 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of Black Stone Minerals during the 4th quarter worth about $411,000. Alpha Wealth Funds LLC purchased a new position in shares of Black Stone Minerals during the 4th quarter worth about $359,000. Finally, Krane Funds Advisors LLC purchased a new position in shares of Black Stone Minerals during the 1st quarter worth about $446,000. 14.49% of the stock is owned by institutional investors and hedge funds.

Black Stone Minerals Company Profile

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.