Thomas Carter, Jr. Purchases 1,120 Shares of Black Stone Minerals (NYSE:BSM) Stock

Black Stone Minerals, L.P. (NYSE:BSM) Chairman Thomas Carter, Jr. bought 1,120 shares of the firm’s stock in a transaction on Wednesday, May 13th. The shares were purchased at an average price of $13.50 per share, for a total transaction of $15,120.00. Following the purchase, the chairman owned 3,682,724 shares in the company, valued at $49,716,774. This trade represents a 0.03% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website.

Black Stone Minerals Price Performance

NYSE BSM opened at $14.02 on Friday. Black Stone Minerals, L.P. has a 12 month low of $11.78 and a 12 month high of $15.49. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of 11.04 and a beta of 0.07. The company’s 50 day moving average is $14.47 and its two-hundred day moving average is $14.26. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24.

Black Stone Minerals (NYSE:BSM) last released its earnings results 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 firm had revenue of $59.36 million for the quarter, compared to the consensus estimate of $107.38 million. Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%. As a group, research 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 was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were given a dividend of $0.30 per share. The ex-dividend date was Friday, May 8th. This represents a $1.20 annualized dividend and a dividend yield of 8.6%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 94.49%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Northwestern University purchased a new position in shares of Black Stone Minerals in the fourth quarter valued at $15,671,000. Citigroup Inc. grew its holdings in shares of Black Stone Minerals by 36.2% in the third 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 in the last quarter. Alps Advisors Inc. purchased a new position in shares of Black Stone Minerals in the third quarter valued at $478,000. Americana Partners LLC purchased a new position in shares of Black Stone Minerals in the third quarter valued at $532,000. Finally, Investment Management Associates Inc. ADV grew its holdings in shares of Black Stone Minerals by 22.6% in 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 purchasing an additional 356,852 shares in the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BSM has been the topic of several recent analyst reports. Zacks Research cut shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Black Stone Minerals in a research report on Friday, April 24th. Finally, Piper Sandler lifted their price objective on shares of Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $14.00.

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.