Thomas Carter, Jr. Acquires 25,000 Shares of Black Stone Minerals (NYSE:BSM) Stock

Black Stone Minerals, L.P. (NYSE:BSM) Chairman Thomas Carter, Jr. acquired 25,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was acquired at an average cost of $13.47 per share, with a total value of $336,750.00. Following the transaction, the chairman directly owned 3,662,450 shares of the company’s stock, valued at approximately $49,333,201.50. This represents a 0.69% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Black Stone Minerals Price Performance

Black Stone Minerals stock opened at $13.54 on Thursday. Black Stone Minerals, L.P. has a 52-week low of $11.78 and a 52-week high of $15.49. The firm has a fifty day moving average of $14.52 and a 200-day moving average of $14.26. The firm has a market capitalization of $2.88 billion, a P/E ratio of 10.66 and a beta of 0.07. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $107.38 million. As a group, analysts predict 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 given a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.20 annualized dividend and a dividend yield of 8.9%. Black Stone Minerals’s dividend payout ratio is presently 94.49%.

Analyst Ratings Changes

BSM has been the topic of a number of analyst reports. 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. Piper Sandler lifted 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Black Stone Minerals has a consensus rating of “Reduce” and a consensus target price of $14.00.

Institutional Trading of Black Stone Minerals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Farther Finance Advisors LLC increased its stake in shares of 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 worth $32,000 after buying an additional 900 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new stake in shares of Black Stone Minerals in the fourth quarter worth $43,000. Newbridge Financial Services Group Inc. increased its stake in shares of 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 worth $66,000 after buying an additional 1,962 shares during the last quarter. Summit Securities Group LLC bought a new stake in shares of Black Stone Minerals in the first quarter worth $83,000. Finally, Kestra Advisory Services LLC bought a new stake in shares of Black Stone Minerals in the fourth quarter worth $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.