Black Stone Minerals (NYSE:BSM) Chairman Buys $336,750.00 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) Chairman Thomas Carter, Jr. purchased 25,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $13.47 per share, with a total value of $336,750.00. Following the purchase, the chairman owned 3,662,450 shares in the company, valued at $49,333,201.50. This represents a 0.69% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Black Stone Minerals Price Performance

Shares of Black Stone Minerals stock traded up $0.12 on Tuesday, hitting $13.50. The company’s stock had a trading volume of 454,388 shares, compared to its average volume of 422,681. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. Black Stone Minerals, L.P. has a 1 year low of $11.78 and a 1 year high of $15.49. The firm has a fifty day moving average price of $14.58 and a 200-day moving average price of $14.25. The company has a market capitalization of $2.87 billion, a price-to-earnings ratio of 10.63 and a beta of 0.07.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results 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 net margin of 61.67% and a return on equity of 42.40%. The business had revenue of $59.36 million during the quarter, compared to analysts’ expectations of $107.38 million. As a group, sell-side analysts anticipate that Black Stone Minerals, L.P. will post 0.93 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have commented on BSM shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Piper Sandler boosted their price objective on Black Stone Minerals from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Finally, Zacks Research lowered Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Reduce” and an average target price of $14.00.

Institutional Investors Weigh In On Black Stone Minerals

Large investors have recently bought and sold shares of the company. Farther Finance Advisors LLC increased its stake in Black Stone Minerals by 61.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 900 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in shares of Black Stone Minerals during the 4th quarter worth approximately $43,000. Newbridge Financial Services Group Inc. boosted its holdings in shares of Black Stone Minerals by 65.8% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 4,943 shares of the oil and gas producer’s stock worth $66,000 after purchasing an additional 1,962 shares during the last quarter. Summit Securities Group LLC acquired a new position in shares of Black Stone Minerals during the 1st quarter worth approximately $83,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Black Stone Minerals during the 4th quarter worth approximately $86,000. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

About Black Stone Minerals

Black Stone Minerals L.P. (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.