Black Stone Minerals (NYSE:BSM) Shares Gap Down to $15.72

Black Stone Minerals, L.P. (NYSE:BSM)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $15.72, but opened at $15.14. Black Stone Minerals shares last traded at $15.40, with a volume of 300,403 shares trading hands.

Analyst Ratings Changes

Several brokerages have commented on BSM. Piper Sandler raised their price target on shares of Black Stone Minerals from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th. Stifel Nicolaus lowered their price objective on shares of Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd.

Black Stone Minerals Stock Down 1.8 %

The firm has a market cap of $3.25 billion, a price-to-earnings ratio of 8.23 and a beta of 0.92. The stock’s 50 day moving average is $15.73 and its 200 day moving average is $16.50.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.15. The firm had revenue of $190.84 million for the quarter, compared to analyst estimates of $142.67 million. Black Stone Minerals had a net margin of 70.46% and a return on equity of 42.38%. During the same quarter in the previous year, the business posted $0.71 earnings per share. Analysts anticipate that Black Stone Minerals, L.P. will post 1.42 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 16th were given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 12.31%. The ex-dividend date of this dividend was Thursday, February 15th. Black Stone Minerals’s payout ratio is 101.60%.

Insiders Place Their Bets

In other news, Director D Mark Dewalch acquired 3,250 shares of the stock in a transaction on Monday, February 26th. The shares were purchased at an average cost of $15.47 per share, for a total transaction of $50,277.50. Following the transaction, the director now owns 320,436 shares in the company, valued at approximately $4,957,144.92. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 19.60% of the company’s stock.

Hedge Funds Weigh In On Black Stone Minerals

Several institutional investors and hedge funds have recently added to or reduced their stakes in BSM. F&V Capital Management LLC boosted its holdings in Black Stone Minerals by 10.4% in the first quarter. F&V Capital Management LLC now owns 20,200 shares of the oil and gas producer’s stock worth $323,000 after purchasing an additional 1,900 shares in the last quarter. Newbridge Financial Services Group Inc. boosted its holdings in Black Stone Minerals by 279.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,036 shares of the oil and gas producer’s stock worth $48,000 after purchasing an additional 2,236 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Black Stone Minerals in the fourth quarter worth $5,635,000. Goldman Sachs Group Inc. bought a new stake in Black Stone Minerals in the fourth quarter worth $259,000. Finally, Virtu Financial LLC acquired a new position in shares of Black Stone Minerals during the fourth quarter valued at about $281,000. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

About Black Stone Minerals

Black Stone Minerals, L.P., together with its subsidiaries, owns and manages oil and natural gas mineral interests. It owns mineral interests in approximately 16.8 million gross acres, nonparticipating royalty interests in 1.8 million gross acres, and overriding royalty interests in 1.6 million gross acres located in 41 states in the United States.