Black Stone Minerals (NYSE:BSM) Director Purchases $495,264.06 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) Director D Mark Dewalch acquired 36,363 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was acquired at an average price of $13.62 per share, for a total transaction of $495,264.06. Following the completion of the transaction, the director owned 631,248 shares in the company, valued at approximately $8,597,597.76. The trade was a 6.11% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

D Mark Dewalch also recently made the following trade(s):

• On Friday, May 29th, D Mark Dewalch bought 36,363 shares of Black Stone Minerals stock. The shares were acquired at an average cost of $13.48 per share, for a total transaction of $490,173.24.
• On Thursday, May 28th, D Mark Dewalch bought 37,650 shares of Black Stone Minerals stock. The shares were acquired at an average price of $13.21 per share, with a total value of $497,356.50.

Black Stone Minerals Stock Performance

Shares of BSM stock opened at $13.92 on Friday. The firm has a market capitalization of $2.96 billion, a price-to-earnings ratio of 10.96 and a beta of 0.05. The stock has a fifty day moving average of $14.04 and a 200 day moving average of $14.31. Black Stone Minerals, L.P. has a 52 week low of $11.78 and a 52 week high of $15.49. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data 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). Black Stone Minerals had a net margin of 61.67% and a return on equity of 42.40%. The company had revenue of $59.36 million for the quarter, compared to analysts’ expectations of $107.38 million. As a group, research analysts expect that Black Stone Minerals, L.P. will post 0.92 earnings per share for the current year.

Black Stone Minerals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date of this dividend was Friday, May 8th. Black Stone Minerals’s dividend payout ratio is presently 94.49%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Piper Sandler lifted their price objective on Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Zacks Research lowered Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Royal Bank Of Canada assumed coverage on Black Stone Minerals in a research note on Friday, May 29th. They issued a “sector perform” rating and a $16.00 target price for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Black Stone Minerals has a consensus rating of “Reduce” and a consensus target price of $15.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its stake in Black Stone Minerals by 61.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer’s stock valued at $32,000 after buying an additional 900 shares during the last quarter. Axiom Investment Management LLC purchased a new stake in shares of Black Stone Minerals in the first quarter worth $37,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Black Stone Minerals during the fourth quarter valued at $43,000. Newbridge Financial Services Group Inc. raised its position in shares of Black Stone Minerals by 65.8% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 4,943 shares of the oil and gas producer’s stock worth $66,000 after purchasing an additional 1,962 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of Black Stone Minerals in the 1st quarter worth about $83,000. Institutional investors 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.