Insider Selling: Black Stone Minerals (NYSE:BSM) Director Sells 11,128 Shares of Stock

Black Stone Minerals, L.P. (NYSE:BSM) Director Ashley Longmaid sold 11,128 shares of Black Stone Minerals stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $13.45, for a total value of $149,671.60. Following the completion of the transaction, the director directly owned 137,335 shares in the company, valued at approximately $1,847,155.75. This represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Black Stone Minerals Trading Up 0.1%

Shares of Black Stone Minerals stock traded up $0.02 during midday trading on Wednesday, reaching $13.54. The company had a trading volume of 245,887 shares, compared to its average volume of 420,892. The stock has a fifty day moving average price of $14.55 and a 200 day moving average price of $14.26. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. The firm has a market cap of $2.88 billion, a PE ratio of 10.66 and a beta of 0.07. Black Stone Minerals, L.P. has a fifty-two week low of $11.78 and a fifty-two week high of $15.49.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.19). The company had revenue of $59.36 million during the quarter, compared to analyst estimates of $107.38 million. Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%. On average, equities analysts anticipate that Black Stone Minerals, L.P. will post 0.93 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 8th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.9%. The ex-dividend date of this dividend is Friday, May 8th. Black Stone Minerals’s payout ratio is currently 94.49%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BSM. Northwestern University acquired a new position in shares of Black Stone Minerals during the fourth quarter worth approximately $15,671,000. Citigroup Inc. grew its position in Black Stone Minerals by 36.2% in the 3rd quarter. Citigroup Inc. now owns 347,200 shares of the oil and gas producer’s stock valued at $4,562,000 after purchasing an additional 92,193 shares during the period. Alps Advisors Inc. bought a new stake in Black Stone Minerals during the 3rd quarter valued at $478,000. Americana Partners LLC bought a new stake in Black Stone Minerals during the 3rd quarter valued at $532,000. Finally, Investment Management Associates Inc. ADV raised its holdings in Black Stone Minerals by 22.6% during the third quarter. Investment Management Associates Inc. ADV now owns 1,934,739 shares of the oil and gas producer’s stock worth $25,422,000 after buying an additional 356,852 shares during the last quarter. Institutional investors own 14.49% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on BSM. Zacks Research lowered Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Finally, Piper Sandler boosted their price target on Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $14.00.

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.