Black Stone Minerals (NYSE:BSM) CEO Thomas Carter, Jr. Purchases 14,000 Shares

Black Stone Minerals, L.P. (NYSE:BSM) CEO Thomas Carter, Jr. acquired 14,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average price of $12.59 per share, with a total value of $176,260.00. Following the completion of the acquisition, the chief executive officer directly owned 3,512,701 shares of the company’s stock, valued at $44,224,905.59. This represents a 0.40% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Black Stone Minerals Stock Performance

BSM stock opened at $12.54 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.22 and a quick ratio of 3.22. The business has a 50-day moving average price of $12.43 and a 200 day moving average price of $13.52. The company has a market capitalization of $2.66 billion, a P/E ratio of 10.81 and a beta of 0.29. Black Stone Minerals, L.P. has a 1-year low of $11.78 and a 1-year high of $15.66.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings data on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.23. The firm had revenue of $159.49 million during the quarter, compared to the consensus estimate of $112.19 million. Black Stone Minerals had a return on equity of 39.67% and a net margin of 61.21%. As a group, equities research analysts forecast that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, August 7th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 9.6%. The ex-dividend date was Thursday, August 7th. Black Stone Minerals’s payout ratio is presently 103.45%.

Hedge Funds Weigh In On Black Stone Minerals

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Kingstone Capital Partners Texas LLC purchased a new position in Black Stone Minerals in the second quarter valued at about $175,721,000. Bank of America Corp DE grew its stake in Black Stone Minerals by 0.7% in the second quarter. Bank of America Corp DE now owns 2,543,814 shares of the oil and gas producer’s stock valued at $33,273,000 after purchasing an additional 17,556 shares during the last quarter. Penn Davis Mcfarland Inc. grew its stake in Black Stone Minerals by 16.3% in the first quarter. Penn Davis Mcfarland Inc. now owns 1,861,741 shares of the oil and gas producer’s stock valued at $28,429,000 after purchasing an additional 260,559 shares during the last quarter. Investment Management Associates Inc. ADV grew its stake in Black Stone Minerals by 2.8% in the second quarter. Investment Management Associates Inc. ADV now owns 1,577,887 shares of the oil and gas producer’s stock valued at $20,639,000 after purchasing an additional 42,553 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Black Stone Minerals by 5.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 963,313 shares of the oil and gas producer’s stock valued at $12,600,000 after purchasing an additional 49,818 shares during the last quarter. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Analyst Ratings Changes

Separately, Piper Sandler decreased their price objective on Black Stone Minerals from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, August 14th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $13.00.

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.