Black Stone Minerals (NYSE:BSM) Sees Unusually-High Trading Volume – What’s Next?

Black Stone Minerals, L.P. (NYSE:BSM) saw strong trading volume on Wednesday . 296,238 shares changed hands during mid-day trading, a decline of 25% from the previous session’s volume of 395,465 shares.The stock last traded at $15.03 and had previously closed at $14.89.

Analyst Ratings Changes

Several analysts recently weighed in on BSM shares. Royal Bank Of Canada initiated coverage on Black Stone Minerals in a report on Friday, May 29th. They issued a “sector perform” rating and a $16.00 price objective for the company. Zacks Research raised shares of Black Stone Minerals from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. Finally, Weiss Ratings raised shares of Black Stone Minerals from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, August 20th. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $15.00.

Black Stone Minerals Stock Up 0.7%

The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 12.39 and a beta of 0.04. The company has a debt-to-equity ratio of 0.24, a quick ratio of 3.76 and a current ratio of 3.76. The business’s 50 day moving average is $14.32 and its 200 day moving average is $14.39.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.24. Black Stone Minerals had a net margin of 61.72% and a return on equity of 41.48%. The business had revenue of $148.97 million for the quarter, compared to analyst estimates of $108.28 million. Sell-side analysts anticipate that Black Stone Minerals, L.P. will post 1.01 earnings per share for the current year.

Black Stone Minerals Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th were issued a $0.32 dividend. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Thursday, August 6th. This represents a $1.28 annualized dividend and a dividend yield of 8.5%. Black Stone Minerals’s payout ratio is currently 105.79%.

Insider Transactions at Black Stone Minerals

In other news, Director D Mark Dewalch bought 37,650 shares of the firm’s stock in a transaction that occurred on Thursday, May 28th. The stock was purchased at an average cost of $13.21 per share, for a total transaction of $497,356.50. Following the purchase, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director James Whitehead sold 2,127,105 shares of the stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $13.21, for a total transaction of $28,099,057.05. The SEC filing for this sale provides additional information. Insiders have acquired a total of 110,376 shares of company stock valued at $1,482,794 in the last quarter. Company insiders own 17.70% of the company’s stock.

Institutional Investors Weigh In On Black Stone Minerals

A number of institutional investors have recently modified their holdings of the business. Royal Bank of Canada grew its holdings in Black Stone Minerals by 7.0% in the first quarter. Royal Bank of Canada now owns 119,894 shares of the oil and gas producer’s stock valued at $1,831,000 after purchasing an additional 7,818 shares during the period. Invesco Ltd. grew its stake in Black Stone Minerals by 10.2% in the 2nd quarter. Invesco Ltd. now owns 94,180 shares of the oil and gas producer’s stock valued at $1,232,000 after acquiring an additional 8,730 shares during the period. Jump Financial LLC purchased a new stake in Black Stone Minerals in the 2nd quarter worth $1,230,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Black Stone Minerals by 5.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 963,313 shares of the oil and gas producer’s stock worth $12,600,000 after acquiring an additional 49,818 shares during the period. Finally, Raymond James Financial Inc. lifted its holdings in Black Stone Minerals by 6.6% during the second quarter. Raymond James Financial Inc. now owns 263,307 shares of the oil and gas producer’s stock valued at $3,444,000 after purchasing an additional 16,237 shares in the last quarter. 14.49% of the stock is currently owned by institutional investors and hedge funds.

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.