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

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

Black Stone Minerals Trading Down 0.3 %

BSM stock traded down $0.04 during midday trading on Monday, reaching $14.06. The stock had a trading volume of 558,632 shares, compared to its average volume of 461,287. Black Stone Minerals, L.P. has a 52-week low of $13.94 and a 52-week high of $18.55. The company’s fifty day simple moving average is $15.05 and its 200 day simple moving average is $15.58. The company has a market cap of $3.17 billion, a price-to-earnings ratio of 9.15 and a beta of 0.93.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.08). Black Stone Minerals had a return on equity of 37.93% and a net margin of 64.88%. 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 posted $0.35 earnings per share. Sell-side analysts predict that Black Stone Minerals, L.P. will post 1.31 EPS for the current year.

Black Stone Minerals Announces Dividend

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

Institutional Trading of Black Stone Minerals

A number of hedge funds and other institutional investors have recently modified their holdings of BSM. Nomura Holdings Inc. acquired a new position in shares of Black Stone Minerals during the 4th quarter valued at about $5,635,000. Investment Management Associates Inc. ADV boosted its holdings in Black Stone Minerals by 18.3% in the 4th quarter. Investment Management Associates Inc. ADV now owns 1,221,389 shares of the oil and gas producer’s stock valued at $19,493,000 after purchasing an additional 188,975 shares during the last quarter. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Black Stone Minerals in the 1st quarter valued at approximately $2,560,000. Magnolia Capital Advisors LLC acquired a new stake in shares of Black Stone Minerals during the 2nd quarter worth approximately $2,480,000. Finally, ING Groep NV raised 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 valued at $8,467,000 after buying an additional 145,700 shares during the period. 14.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Black Stone Minerals Company Profile

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.