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

Black Stone Minerals, L.P. (NYSE:BSM) Director D Mark Dewalch purchased 36,363 shares of the firm’s stock in a transaction on Friday, May 29th. The stock was bought at an average price of $13.48 per share, for a total transaction of $490,173.24. Following the acquisition, the director owned 594,885 shares in the company, valued at $8,019,049.80. The trade was a 6.51% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, June 1st, D Mark Dewalch purchased 36,363 shares of Black Stone Minerals stock. The stock was bought at an average price of $13.62 per share, for a total transaction of $495,264.06.
• On Thursday, May 28th, D Mark Dewalch purchased 37,650 shares of Black Stone Minerals stock. The stock was bought at an average price of $13.21 per share, for a total transaction of $497,356.50.

Black Stone Minerals Stock Down 0.3%

Shares of BSM opened at $13.61 on Wednesday. The firm has a market cap of $2.89 billion, a PE ratio of 10.72 and a beta of 0.05. The company’s fifty day moving average is $14.12 and its two-hundred day moving average is $14.31. Black Stone Minerals, L.P. has a fifty-two week low of $11.78 and a fifty-two week high of $15.49. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24.

Black Stone Minerals (NYSE:BSM) last posted its 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). The business had revenue of $59.36 million for the quarter, compared to analyst estimates of $107.38 million. Black Stone Minerals had a net margin of 61.67% and a return on equity of 42.40%. Analysts forecast that Black Stone Minerals, L.P. will post 0.92 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were issued a dividend of $0.30 per share. The ex-dividend date was Friday, May 8th. This represents a $1.20 annualized dividend and a dividend yield of 8.8%. Black Stone Minerals’s payout ratio is presently 94.49%.

Analysts Set New Price Targets

BSM has been the topic of several recent research reports. Zacks Research lowered shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Piper Sandler lifted their price target 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. Finally, Royal Bank Of Canada initiated 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 on the stock. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Black Stone Minerals currently has an average rating of “Reduce” and a consensus price target of $15.00.

Institutional Investors Weigh In On Black Stone Minerals

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Axiom Investment Management LLC bought a new stake in shares of Black Stone Minerals in the 1st quarter worth about $37,000. Quantinno Capital Management LP increased its position in shares of Black Stone Minerals by 3.0% in the 1st quarter. Quantinno Capital Management LP now owns 42,516 shares of the oil and gas producer’s stock worth $643,000 after purchasing an additional 1,228 shares during the last quarter. Aristides Capital LLC increased its position in shares of Black Stone Minerals by 19.2% in the 1st quarter. Aristides Capital LLC now owns 42,330 shares of the oil and gas producer’s stock worth $640,000 after purchasing an additional 6,814 shares during the last quarter. SteelPeak Wealth LLC bought a new stake in shares of Black Stone Minerals in the 1st quarter worth about $166,000. Finally, Summit Securities Group LLC bought a new stake in shares of Black Stone Minerals in the 1st quarter worth about $83,000. Institutional investors own 14.49% of the company’s stock.

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.