Black Stone Minerals (NYSE:BSM) Stock: Insider Thomas Carter, Jr. Purchases 50,000 Shares

Black Stone Minerals, L.P. (NYSE:BSM) Chairman Thomas Carter, Jr. purchased 50,000 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The stock was acquired at an average price of $13.73 per share, with a total value 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. This represents a 1.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Black Stone Minerals Stock Down 0.7%

NYSE BSM traded down $0.10 during trading hours on Tuesday, reaching $13.64. 572,250 shares of the company’s stock traded hands, compared to its average volume of 411,538. Black Stone Minerals, L.P. has a 52-week low of $12.95 and a 52-week high of $15.49. The firm has a market cap of $2.90 billion, a PE ratio of 13.38 and a beta of 0.14. The firm has a 50-day simple moving average of $14.71 and a 200 day simple moving average of $14.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.78 and a quick ratio of 3.76.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, November 2nd. The oil and gas producer reported $0.21 EPS 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 business had revenue of $99.73 million for the quarter, compared to the consensus estimate of $116.41 million. Sell-side analysts anticipate that Black Stone Minerals, L.P. will post 0.70 EPS for the current fiscal 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 paid a dividend of $0.35 per share. This is a positive change from Black Stone Minerals’s previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date of this dividend is Friday, November 6th. Black Stone Minerals’s payout ratio is 125.49%.

Institutional Investors Weigh In On Black Stone Minerals

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on BSM shares. Weiss Ratings upgraded shares of Black Stone Minerals from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Zacks Research downgraded Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock 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.