Black Stone Minerals (NYSE:BSM) Chairman Thomas Carter, Jr. Buys 19,154 Shares

Black Stone Minerals, L.P. (NYSE:BSM) Chairman Thomas Carter, Jr. purchased 19,154 shares of Black Stone Minerals stock in a transaction on Tuesday, May 12th. The stock was bought at an average cost of $13.48 per share, with a total value of $258,195.92. Following the completion of the acquisition, the chairman owned 3,681,604 shares in the company, valued at approximately $49,628,021.92. This trade represents a 0.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link.

Black Stone Minerals Price Performance

Shares of Black Stone Minerals stock opened at $13.50 on Wednesday. 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, L.P. has a fifty-two week low of $11.78 and a fifty-two week high of $15.49. The firm has a fifty day moving average price of $14.55 and a two-hundred day moving average price of $14.26. The company has a market cap of $2.87 billion, a PE ratio of 10.63 and a beta of 0.07.

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 net margin of 61.67% and a return on equity of 42.40%. The company had revenue of $59.36 million during the quarter, compared to the consensus estimate of $107.38 million. Analysts expect that Black Stone Minerals, L.P. will post 0.93 EPS for the current year.

Black Stone Minerals Announces Dividend

The firm 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. The ex-dividend date is Friday, May 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.9%. Black Stone Minerals’s dividend payout ratio is currently 94.49%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BSM. Piper Sandler increased their price objective on shares of Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Weiss Ratings restated a “hold (c)” rating on shares of Black Stone Minerals in a research report on Friday, April 24th. Finally, Zacks Research lowered shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research note 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 MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $14.00.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its stake in Black Stone Minerals by 61.0% in the fourth 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 in the last quarter. Garton & Associates Financial Advisors LLC bought a new position in Black Stone Minerals in the fourth quarter valued at approximately $43,000. Newbridge Financial Services Group Inc. lifted its stake in Black Stone Minerals by 65.8% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 4,943 shares of the oil and gas producer’s stock valued at $66,000 after buying an additional 1,962 shares in the last quarter. Summit Securities Group LLC bought a new position in Black Stone Minerals in the first quarter valued at approximately $83,000. Finally, Kestra Advisory Services LLC acquired a new stake in shares of Black Stone Minerals in the fourth quarter valued at approximately $86,000. Institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Company Profile

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.