Black Stone Minerals (NYSE:BSM) Chairman Acquires $686,500.00 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) Chairman Thomas Carter, Jr. purchased 50,000 shares of the firm’s stock in a transaction on Monday, November 9th. The stock was acquired at an average cost of $13.73 per share, for a total transaction of $686,500.00. Following the completion of the purchase, the chairman owned 3,732,724 shares in the company, valued at $51,250,300.52. The trade was a 1.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Black Stone Minerals Trading Up 0.8%

NYSE BSM opened at $14.09 on Friday. Black Stone Minerals, L.P. has a 12 month low of $12.95 and a 12 month high of $15.49. The company has a 50-day moving average of $14.65 and a 200-day moving average of $14.49. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.78 and a quick ratio of 1.78. The company has a market cap of $3.00 billion, a P/E ratio of 13.81 and a beta of 0.14.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, November 2nd. The oil and gas producer reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.05). Black Stone Minerals had a return on equity of 36.99% and a net margin of 57.23%. The company had revenue of $99.73 million for the quarter, compared to analysts’ expectations of $116.41 million. As a group, equities analysts predict that Black Stone Minerals, L.P. will post 0.70 earnings per share for the current year.

Black Stone Minerals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 9.9%. This is a positive change from Black Stone Minerals’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend is Friday, November 6th. Black Stone Minerals’s dividend payout ratio (DPR) is currently 137.25%.

Hedge Funds Weigh In On Black Stone Minerals

A number of large investors have recently modified their holdings of the company. Next Level Wealth Planning LLC acquired a new position in shares of Black Stone Minerals in the 3rd quarter valued at about $25,000. Ancora Advisors LLC acquired a new stake in Black Stone Minerals during the 2nd quarter worth approximately $31,000. Axiom Investment Management LLC acquired a new stake in Black Stone Minerals during the 1st quarter worth approximately $37,000. Abel Hall LLC acquired a new stake in Black Stone Minerals during the 3rd quarter worth approximately $143,000. Finally, SteelPeak Wealth LLC purchased a new position in Black Stone Minerals in the first quarter valued at approximately $166,000. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Zacks Research lowered shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a report on Friday, October 16th. Weiss Ratings raised shares of Black Stone Minerals from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and an average price target of $15.00.

About Black Stone Minerals

Black Stone Minerals, L.P. is a Houston-based owner of oil and natural gas mineral and royalty interests. The company leases these interests to exploration and production companies, which develop and operate the properties. Black Stone Minerals generally does not drill wells itself. Instead, it earns royalties and other payments tied to production from wells on its properties, including oil, natural gas and natural gas liquids. Its portfolio spans multiple onshore oil and gas regions across the United States, including areas in the Permian Basin, Haynesville shale and Eagle Ford.