Insider Selling: Black Stone Minerals (NYSE:BSM) Director Sells $28,099,057.05 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) Director James Whitehead sold 2,127,105 shares of Black Stone Minerals stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $13.21, for a total transaction of $28,099,057.05. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Black Stone Minerals Price Performance

Shares of NYSE:BSM opened at $14.47 on Thursday. The company’s fifty day moving average price is $14.16 and its 200-day moving average price is $14.40. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 3.76. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 11.96 and a beta of 0.04. Black Stone Minerals, L.P. has a one year low of $11.78 and a one year high of $15.49.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.24. The company had revenue of $148.97 million during the quarter, compared to the consensus estimate of $108.28 million. Black Stone Minerals had a net margin of 61.72% and a return on equity of 41.48%. On average, equities research analysts anticipate that Black Stone Minerals, L.P. will post 0.96 earnings per share for the current fiscal year.

Black Stone Minerals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th will be issued a $0.32 dividend. This represents a $1.28 dividend on an annualized basis and a dividend yield of 8.8%. The ex-dividend date is Thursday, August 6th. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.30. Black Stone Minerals’s dividend payout ratio (DPR) is currently 105.79%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BSM. Weiss Ratings downgraded Black Stone Minerals from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, August 6th. Zacks Research raised shares of Black Stone Minerals from a “strong sell” rating to a “hold” rating in a research note on Friday, July 31st. Finally, Royal Bank Of Canada began coverage on shares of Black Stone Minerals in a research note on Friday, May 29th. They issued a “sector perform” rating and a $16.00 price objective for the company. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, Black Stone Minerals has a consensus rating of “Hold” and an average price target of $15.00.

Hedge Funds Weigh In On Black Stone Minerals

Several institutional investors and hedge funds have recently bought and sold shares of BSM. Farther Finance Advisors LLC lifted its position 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 last quarter. Axiom Investment Management LLC bought a new stake in Black Stone Minerals during the 1st quarter valued at $37,000. Garton & Associates Financial Advisors LLC purchased a new stake in Black Stone Minerals during the 4th quarter valued at $43,000. Summit Securities Group LLC bought a new stake in Black Stone Minerals in the 1st quarter worth $83,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Black Stone Minerals in the fourth quarter valued at about $86,000. 14.49% of the stock is currently owned by 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.