Black Stone Minerals (NYSE:BSM) Director D Mark Dewalch Buys 37,650 Shares

Black Stone Minerals, L.P. (NYSE:BSM) Director D Mark Dewalch acquired 37,650 shares of the company’s stock in a transaction on Thursday, May 28th. The shares were bought at an average price of $13.21 per share, with a total value of $497,356.50. Following the completion of the purchase, the director directly owned 431,495 shares of the company’s stock, valued at approximately $5,700,048.95. This represents a 9.56% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Black Stone Minerals Price Performance

Shares of NYSE:BSM traded up $0.05 on Thursday, hitting $13.33. The stock had a trading volume of 485,878 shares, compared to its average volume of 415,165. The firm’s 50 day moving average price is $14.24 and its 200-day moving average price is $14.31. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. Black Stone Minerals, L.P. has a twelve month low of $11.78 and a twelve month high of $15.49. The company has a market capitalization of $2.83 billion, a price-to-earnings ratio of 10.49 and a beta of 0.07.

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

Black Stone Minerals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a $0.30 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.0%. Black Stone Minerals’s payout ratio is 94.49%.

Wall Street Analyst Weigh In

BSM has been the topic of a number of research analyst reports. Piper Sandler increased their price target on Black Stone Minerals from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Weiss Ratings reiterated a “hold (c)” rating on shares of Black Stone Minerals in a research report on Friday, April 24th. Finally, Zacks Research downgraded Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Black Stone Minerals has an average rating of “Reduce” and an average target price of $14.00.

Hedge Funds Weigh In On Black Stone Minerals

A number of institutional investors have recently modified their holdings of BSM. Northwestern University acquired a new position in shares of Black Stone Minerals during the fourth quarter worth approximately $15,671,000. Citigroup Inc. increased its holdings in shares of Black Stone Minerals by 36.2% in the third quarter. Citigroup Inc. now owns 347,200 shares of the oil and gas producer’s stock valued at $4,562,000 after purchasing an additional 92,193 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in Black Stone Minerals by 154.8% in the 4th quarter. Cullen Frost Bankers Inc. now owns 143,484 shares of the oil and gas producer’s stock worth $1,907,000 after purchasing an additional 87,172 shares during the last quarter. Forum Financial Management LP bought a new position in Black Stone Minerals in the 4th quarter worth approximately $3,987,000. Finally, Alps Advisors Inc. acquired a new position in Black Stone Minerals during the 3rd quarter worth $478,000. 14.49% of the stock is owned by institutional investors.

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.