Black Stone Minerals (NYSE:BSM) Director D Mark Dewalch Acquires 36,363 Shares

Black Stone Minerals, L.P. (NYSE:BSM) Director D Mark Dewalch acquired 36,363 shares of the company’s stock in a transaction on Monday, June 1st. The stock was purchased at an average cost of $13.62 per share, for a total transaction of $495,264.06. Following the completion of the transaction, the director owned 631,248 shares in the company, valued at approximately $8,597,597.76. The trade was a 6.11% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website.

D Mark Dewalch also recently made the following trade(s):

• On Friday, May 29th, D Mark Dewalch acquired 36,363 shares of Black Stone Minerals stock. The stock was purchased at an average cost of $13.48 per share, for a total transaction of $490,173.24.
• On Thursday, May 28th, D Mark Dewalch acquired 37,650 shares of Black Stone Minerals stock. The stock was purchased at an average cost of $13.21 per share, for a total transaction of $497,356.50.

Black Stone Minerals Stock Up 0.0%

Shares of NYSE:BSM traded up $0.00 during trading hours on Tuesday, reaching $13.61. The stock had a trading volume of 346,545 shares, compared to its average volume of 411,497. Black Stone Minerals, L.P. has a 1 year low of $11.78 and a 1 year high of $15.49. The firm’s 50 day moving average is $14.12 and its 200-day moving average is $14.31. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. The stock has a market capitalization of $2.89 billion, a price-to-earnings ratio of 10.72 and a beta of 0.05.

Black Stone Minerals (NYSE:BSM) last announced 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). The firm had revenue of $59.36 million during the quarter, compared to analysts’ expectations of $107.38 million. Black Stone Minerals had a net margin of 61.67% and a return on equity of 42.40%. Research analysts predict that Black Stone Minerals, L.P. will post 0.93 earnings per share for the current fiscal year.

Black Stone Minerals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date of this dividend was Friday, May 8th. Black Stone Minerals’s dividend payout ratio (DPR) is 94.49%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BSM. Royal Bank Of Canada assumed coverage on shares of Black Stone Minerals in a research note on Friday. They set a “sector perform” rating and a $16.00 price target for the company. Piper Sandler raised their target price on shares of Black Stone Minerals from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Zacks Research cut shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $15.00.

Institutional Investors Weigh In On Black Stone Minerals

Institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC grew its holdings in Black Stone Minerals by 61.0% in the fourth quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer’s stock valued at $32,000 after purchasing an additional 900 shares during the period. Axiom Investment Management LLC purchased a new position in shares of Black Stone Minerals in the first quarter valued at $37,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Black Stone Minerals in the fourth quarter valued at $43,000. Newbridge Financial Services Group Inc. boosted its stake in shares of Black Stone Minerals by 65.8% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 4,943 shares of the oil and gas producer’s stock valued at $66,000 after purchasing an additional 1,962 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in Black Stone Minerals in the first quarter valued at $83,000. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

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.