Ashley Longmaid Sells 11,128 Shares of Black Stone Minerals (NYSE:BSM) Stock

Black Stone Minerals, L.P. (NYSE:BSM) Director Ashley Longmaid sold 11,128 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $13.45, for a total transaction of $149,671.60. Following the sale, the director directly owned 137,335 shares of the company’s stock, valued at approximately $1,847,155.75. The trade was a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Black Stone Minerals Stock Performance

BSM stock opened at $13.76 on Friday. The firm has a market cap of $2.92 billion, a price-to-earnings ratio of 10.83 and a beta of 0.07. The firm has a 50-day simple moving average of $14.49 and a two-hundred day simple moving average of $14.27. Black Stone Minerals, L.P. has a one year low of $11.78 and a one year high of $15.49. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.03 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.19). The firm had revenue of $59.36 million for 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%. On average, equities analysts forecast that Black Stone Minerals, L.P. will post 0.93 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 8th will be given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend is Friday, May 8th. Black Stone Minerals’s dividend payout ratio is presently 94.49%.

Hedge Funds Weigh In On Black Stone Minerals

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Doliver Advisors LP increased its holdings in Black Stone Minerals by 2.5% in the 4th quarter. Doliver Advisors LP now owns 35,024 shares of the oil and gas producer’s stock worth $465,000 after buying an additional 850 shares during the period. Farther Finance Advisors LLC increased its holdings in Black Stone Minerals by 61.0% in the 4th quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer’s stock worth $32,000 after buying an additional 900 shares during the period. MAS Advisors LLC increased its holdings in Black Stone Minerals by 3.5% in the 3rd quarter. MAS Advisors LLC now owns 27,089 shares of the oil and gas producer’s stock worth $356,000 after buying an additional 913 shares during the period. Avidian Wealth Enterprises LLC increased its holdings in Black Stone Minerals by 3.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 30,000 shares of the oil and gas producer’s stock worth $394,000 after buying an additional 1,000 shares during the period. Finally, WMG Financial Advisors LLC increased its holdings in Black Stone Minerals by 6.3% in the 4th quarter. WMG Financial Advisors LLC now owns 16,750 shares of the oil and gas producer’s stock worth $223,000 after buying an additional 1,000 shares during the period. Institutional investors and hedge funds own 14.49% of the company’s stock.

Analyst Upgrades and Downgrades

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