Thomas Carter, Jr. Acquires 19,154 Shares of Black Stone Minerals (NYSE:BSM) Stock

Black Stone Minerals, L.P. (NYSE:BSM) Chairman Thomas Carter, Jr. acquired 19,154 shares of the stock in a transaction dated Tuesday, May 12th. The stock was acquired at an average price of $13.48 per share, for a total transaction of $258,195.92. Following the purchase, the chairman directly owned 3,681,604 shares in the company, valued at approximately $49,628,021.92. This trade represents a 0.52% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink.

Black Stone Minerals Price Performance

Shares of NYSE:BSM opened at $13.54 on Thursday. The firm’s 50 day moving average price is $14.52 and its 200-day moving average price is $14.26. Black Stone Minerals, L.P. has a twelve month low of $11.78 and a twelve month 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. The stock has a market capitalization of $2.88 billion, a PE ratio of 10.66 and a beta of 0.07.

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 for the quarter, missing the consensus estimate of $0.22 by ($0.19). Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%.The business had revenue of $59.36 million during the quarter, compared to the consensus estimate of $107.38 million. Equities research analysts expect that Black Stone Minerals, L.P. will post 0.93 EPS for the current year.

Black Stone Minerals Announces Dividend

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On Black Stone Minerals

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

Black Stone Minerals Company Profile

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.