Black Stone Minerals (NYSE:BSM) Director Sells $9,007,638.20 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) Director James Whitehead sold 671,210 shares of the firm’s stock in a transaction dated Monday, November 9th. The shares were sold at an average price of $13.42, for a total transaction of $9,007,638.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Black Stone Minerals Trading Down 0.7%

Shares of NYSE:BSM traded down $0.10 during trading on Tuesday, hitting $13.64. 572,250 shares of the company’s stock were exchanged, compared to its average volume of 411,538. The company has a current ratio of 1.78, a quick ratio of 3.76 and a debt-to-equity ratio of 0.25. The firm has a market cap of $2.90 billion, a P/E ratio of 13.38 and a beta of 0.14. The firm has a 50-day moving average price of $14.71 and a two-hundred day moving average price of $14.50. Black Stone Minerals, L.P. has a 1-year low of $12.95 and a 1-year high of $15.49.

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 net margin of 57.23% and a return on equity of 36.99%. The business had revenue of $99.73 million during the quarter, compared to analyst estimates of $116.41 million. 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 firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Friday, November 6th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Friday, November 6th. This represents a $1.40 dividend on an annualized basis and a yield of 10.3%. This is a boost from Black Stone Minerals’s previous quarterly dividend of $0.32. Black Stone Minerals’s dividend payout ratio (DPR) is presently 125.49%.

Analyst Upgrades and Downgrades

BSM has been the topic of a number of analyst reports. Weiss Ratings raised Black Stone Minerals from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. Zacks Research cut Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and a consensus price target of $15.00.

Institutional Trading of Black Stone Minerals

A number of institutional investors and hedge funds have recently modified their holdings of BSM. Next Level Wealth Planning LLC bought a new stake in Black Stone Minerals in the third quarter valued at approximately $25,000. Ancora Advisors LLC acquired a new stake in Black Stone Minerals in the second quarter worth $31,000. Axiom Investment Management LLC acquired a new stake in Black Stone Minerals in the first quarter worth $37,000. Abel Hall LLC bought a new position in shares of Black Stone Minerals during the third quarter worth $143,000. Finally, Murphy Middleton Hinkle & Parker Inc. bought a new position in shares of Black Stone Minerals during the third quarter worth $162,000. 14.49% of the stock is owned by institutional investors.

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.