Insider Buying: Black Stone Minerals (NYSE:BSM) Director Buys $497,356.50 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) Director D Mark Dewalch bought 37,650 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was purchased at an average price of $13.21 per share, for a total transaction of $497,356.50. Following the acquisition, the director directly owned 431,495 shares in the company, valued at approximately $5,700,048.95. This trade represents a 9.56% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Black Stone Minerals Stock Performance

BSM stock traded up $0.05 during mid-day trading on Thursday, reaching $13.33. 485,878 shares of the stock traded hands, compared to its average volume of 415,165. The firm has a market capitalization of $2.83 billion, a PE ratio of 10.49 and a beta of 0.07. The business has a 50-day moving average of $14.24 and a two-hundred day moving average of $14.31. Black Stone Minerals, L.P. has a 52 week low of $11.78 and a 52 week high of $15.49. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data 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). Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%.The business had revenue of $59.36 million during the quarter, compared to the consensus estimate of $107.38 million. As a group, equities analysts predict that Black Stone Minerals, L.P. will post 0.93 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 9.0%. The ex-dividend date of this dividend was Friday, May 8th. Black Stone Minerals’s payout ratio is currently 94.49%.

Hedge Funds Weigh In On Black Stone Minerals

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Morgan Stanley lifted its holdings in shares of Black Stone Minerals by 57.1% during the 4th quarter. Morgan Stanley now owns 7,107,673 shares of the oil and gas producer’s stock worth $94,461,000 after acquiring an additional 2,582,823 shares during the period. Bank of America Corp DE raised its position in Black Stone Minerals by 2.2% in the third quarter. Bank of America Corp DE now owns 2,600,182 shares of the oil and gas producer’s stock worth $34,166,000 after purchasing an additional 56,368 shares in the last quarter. Penn Davis Mcfarland Inc. raised its position in Black Stone Minerals by 2.5% in the fourth quarter. Penn Davis Mcfarland Inc. now owns 1,967,467 shares of the oil and gas producer’s stock worth $26,148,000 after purchasing an additional 48,677 shares in the last quarter. Investment Management Associates Inc. ADV raised its position in 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 worth $25,422,000 after purchasing an additional 356,852 shares in the last quarter. Finally, Northwestern University acquired a new position in Black Stone Minerals in the fourth quarter worth about $15,671,000. 14.49% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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