Black Stone Minerals (NYSE:BSM) SVP Luke Stevens Putman Sells 29,386 Shares

Black Stone Minerals, L.P. (NYSE:BSM) SVP Luke Stevens Putman sold 29,386 shares of Black Stone Minerals stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $13.75, for a total transaction of $404,057.50. Following the transaction, the senior vice president directly owned 702,645 shares in the company, valued at $9,661,368.75. This represents a 4.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Luke Stevens Putman also recently made the following trade(s):

• On Monday, April 6th, Luke Stevens Putman sold 29,386 shares of Black Stone Minerals stock. The shares were sold at an average price of $14.45, for a total transaction of $424,627.70.
• On Thursday, March 5th, Luke Stevens Putman sold 30,276 shares of Black Stone Minerals stock. The shares were sold at an average price of $15.25, for a total transaction of $461,709.00.

Black Stone Minerals Price Performance

Shares of NYSE:BSM opened at $13.57 on Thursday. The company has a debt-to-equity ratio of 0.19, a current ratio of 3.88 and a quick ratio of 3.88. Black Stone Minerals, L.P. has a 1-year low of $11.78 and a 1-year high of $15.49. The company has a market capitalization of $2.88 billion, a P/E ratio of 10.68 and a beta of 0.07. The firm’s 50 day simple moving average is $14.68 and its two-hundred day simple moving average is $14.24.

Black Stone Minerals (NYSE:BSM) last issued 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 41.82%. The firm had revenue of $59.36 million for the quarter, compared to analysts’ expectations of $107.38 million. Research analysts expect that Black Stone Minerals, L.P. will post 0.93 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 8th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 8.8%. The ex-dividend date of this dividend is Friday, May 8th. Black Stone Minerals’s payout ratio is 94.49%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Doliver Advisors LP increased its position in Black Stone Minerals by 2.5% during the fourth quarter. Doliver Advisors LP now owns 35,024 shares of the oil and gas producer’s stock valued at $465,000 after acquiring an additional 850 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in shares of 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 worth $32,000 after purchasing an additional 900 shares during the last quarter. MAS Advisors LLC grew its holdings in shares of Black Stone Minerals by 3.5% in the third quarter. MAS Advisors LLC now owns 27,089 shares of the oil and gas producer’s stock worth $356,000 after purchasing an additional 913 shares during the last quarter. Avidian Wealth Enterprises LLC grew its holdings in shares of Black Stone Minerals by 3.4% in the third quarter. Avidian Wealth Enterprises LLC now owns 30,000 shares of the oil and gas producer’s stock worth $394,000 after purchasing an additional 1,000 shares during the last quarter. Finally, WMG Financial Advisors LLC grew its holdings in shares of Black Stone Minerals by 6.3% in the fourth quarter. WMG Financial Advisors LLC now owns 16,750 shares of the oil and gas producer’s stock worth $223,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 14.49% of the company’s stock.

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.