Black Stone Minerals (NYSE:BSM) Sees Unusually-High Trading Volume – Time to Buy?

Black Stone Minerals, L.P. (NYSE:BSM) saw unusually-high trading volume on Wednesday . Approximately 296,238 shares were traded during mid-day trading, a decline of 25% from the previous session’s volume of 395,465 shares.The stock last traded at $15.03 and had previously closed at $14.89.

Analyst Ratings Changes

A number of brokerages have commented on BSM. Zacks Research raised Black Stone Minerals from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Royal Bank Of Canada began coverage on Black Stone Minerals in a report on Friday, May 29th. They issued a “sector perform” rating and a $16.00 price objective on the stock. Finally, Weiss Ratings raised shares of Black Stone Minerals from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, Black Stone Minerals has an average rating of “Hold” and a consensus target price of $15.00.

Black Stone Minerals Stock Performance

The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.76 and a current ratio of 3.76. The firm’s 50-day moving average price is $14.32 and its two-hundred day moving average price is $14.39. The stock has a market cap of $3.19 billion, a price-to-earnings ratio of 12.39 and a beta of 0.04.

Black Stone Minerals (NYSE:BSM) last issued its earnings results on Monday, August 3rd. The oil and gas producer reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.24. The company had revenue of $148.97 million for the quarter, compared to the consensus estimate of $108.28 million. Black Stone Minerals had a net margin of 61.72% and a return on equity of 41.48%. On average, analysts expect that Black Stone Minerals, L.P. will post 1.01 EPS for the current fiscal year.

Black Stone Minerals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th were paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 8.5%. This is a positive change from Black Stone Minerals’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, August 6th. Black Stone Minerals’s payout ratio is 105.79%.

Insider Buying and Selling at Black Stone Minerals

In related news, Director D Mark Dewalch bought 37,650 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was purchased at an average price of $13.21 per share, for a total transaction of $497,356.50. Following the acquisition, the director owned 431,495 shares of the company’s stock, valued at approximately $5,700,048.95. This trade represents a 9.56% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director James Whitehead sold 2,127,105 shares of the firm’s stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $13.21, for a total value of $28,099,057.05. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders bought 110,376 shares of company stock worth $1,482,794. Corporate insiders own 17.70% of the company’s stock.

Institutional Trading of Black Stone Minerals

Hedge funds have recently made changes to their positions in the business. ING Groep NV boosted its stake in shares of Black Stone Minerals by 42.9% in the 4th quarter. ING Groep NV now owns 728,600 shares of the oil and gas producer’s stock valued at $9,683,000 after buying an additional 218,900 shares during the period. Cullen Frost Bankers Inc. raised its holdings in Black Stone Minerals by 154.8% in the fourth quarter. Cullen Frost Bankers Inc. now owns 143,484 shares of the oil and gas producer’s stock valued at $1,907,000 after acquiring an additional 87,172 shares in the last quarter. Rare Wolf Capital LLC purchased a new position in Black Stone Minerals in the fourth quarter worth approximately $968,000. Americana Partners LLC grew its holdings in Black Stone Minerals by 212.4% during the 4th quarter. Americana Partners LLC now owns 126,427 shares of the oil and gas producer’s stock worth $1,680,000 after acquiring an additional 85,956 shares in the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Black Stone Minerals by 140.2% in the 4th quarter. Corient Private Wealth LLC now owns 207,367 shares of the oil and gas producer’s stock valued at $2,756,000 after purchasing an additional 121,043 shares during the last quarter. Institutional investors and hedge funds 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.