Black Stone Minerals, L.P. (NYSE:BSM) CEO Purchases $1,412,000.00 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) CEO Thomas L. Carter, Jr. purchased 100,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were purchased at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the acquisition, the chief executive officer now directly owns 3,133,128 shares in the company, valued at $44,239,767.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Black Stone Minerals Stock Down 0.3 %

Shares of BSM stock opened at $14.06 on Tuesday. Black Stone Minerals, L.P. has a 52 week low of $13.94 and a 52 week high of $18.55. The stock has a market capitalization of $3.17 billion, a PE ratio of 9.13 and a beta of 0.93. The firm has a 50 day moving average of $15.01 and a two-hundred day moving average of $15.57.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.29 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.08). Black Stone Minerals had a net margin of 64.88% and a return on equity of 37.93%. The business had revenue of $109.62 million during the quarter, compared to analysts’ expectations of $124.24 million. During the same period in the prior year, the business earned $0.35 EPS. Analysts expect that Black Stone Minerals, L.P. will post 1.31 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were given a $0.375 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.50 annualized dividend and a yield of 10.67%. Black Stone Minerals’s dividend payout ratio is presently 97.40%.

Analyst Ratings Changes

BSM has been the subject of several research reports. StockNews.com upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Piper Sandler dropped their target price on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Finally, KeyCorp initiated coverage on shares of Black Stone Minerals in a report on Thursday, June 27th. They issued a “sector weight” rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $17.50.

Hedge Funds Weigh In On Black Stone Minerals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Investment Management Associates Inc. ADV lifted its position in shares of Black Stone Minerals by 18.3% during the 4th quarter. Investment Management Associates Inc. ADV now owns 1,221,389 shares of the oil and gas producer’s stock worth $19,493,000 after purchasing an additional 188,975 shares during the last quarter. Brown Advisory Inc. lifted its position in shares of Black Stone Minerals by 1.7% during the 4th quarter. Brown Advisory Inc. now owns 989,122 shares of the oil and gas producer’s stock worth $15,786,000 after purchasing an additional 16,200 shares during the last quarter. ING Groep NV lifted its position in shares of Black Stone Minerals by 37.9% during the 4th quarter. ING Groep NV now owns 530,500 shares of the oil and gas producer’s stock worth $8,467,000 after purchasing an additional 145,700 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in shares of Black Stone Minerals by 1.3% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 395,675 shares of the oil and gas producer’s stock worth $6,315,000 after purchasing an additional 5,127 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in shares of Black Stone Minerals during the 4th quarter worth $5,635,000. Hedge funds and other institutional investors own 14.49% of the company’s stock.

About Black Stone Minerals

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.