Black Stone Minerals (NYSE:BSM) Stock: Insider Thomas Carter, Jr. Acquires 50,000 Shares

Black Stone Minerals, L.P. (NYSE:BSM) Chairman Thomas Carter, Jr. acquired 50,000 shares of Black Stone Minerals stock in a transaction dated Monday, November 9th. The shares were bought at an average price of $13.73 per share, for a total transaction of $686,500.00. Following the transaction, the chairman owned 3,732,724 shares of the company’s stock, valued at approximately $51,250,300.52. The trade was a 1.36% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Black Stone Minerals Stock Up 2.2%

Shares of BSM stock opened at $13.97 on Thursday. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 0.25. The stock has a market cap of $2.97 billion, a P/E ratio of 13.70 and a beta of 0.14. Black Stone Minerals, L.P. has a 52 week low of $12.95 and a 52 week high of $15.49. The company’s fifty day simple moving average is $14.67 and its two-hundred day simple moving average is $14.49.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, November 2nd. The oil and gas producer reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.05). The firm had revenue of $99.73 million for the quarter, compared to the consensus estimate of $116.41 million. Black Stone Minerals had a net margin of 57.23% and a return on equity of 36.99%. Analysts predict that Black Stone Minerals, L.P. will post 0.70 EPS for the current fiscal year.

Black Stone Minerals Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Friday, November 6th will be given a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 10.0%. This is a positive change from Black Stone Minerals’s previous quarterly dividend of $0.32. The ex-dividend date is Friday, November 6th. Black Stone Minerals’s dividend payout ratio is 137.25%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in BSM. Commonwealth Equity Services LLC raised its position in Black Stone Minerals by 51.5% during the third quarter. Commonwealth Equity Services LLC now owns 26,903 shares of the oil and gas producer’s stock worth $385,000 after acquiring an additional 9,142 shares during the period. Kestra Advisory Services LLC boosted its holdings in Black Stone Minerals by 12.7% in the 3rd quarter. Kestra Advisory Services LLC now owns 12,987 shares of the oil and gas producer’s stock worth $186,000 after buying an additional 1,467 shares during the last quarter. Ashton Thomas Private Wealth LLC increased its stake in Black Stone Minerals by 16.7% during the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 122,777 shares of the oil and gas producer’s stock worth $1,758,000 after buying an additional 17,563 shares in the last quarter. MGO One Seven LLC raised its holdings in shares of Black Stone Minerals by 16.6% during the third quarter. MGO One Seven LLC now owns 31,193 shares of the oil and gas producer’s stock valued at $447,000 after acquiring an additional 4,442 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. raised its holdings in shares of Black Stone Minerals by 21.6% during the third quarter. Pekin Hardy Strauss Inc. now owns 39,463 shares of the oil and gas producer’s stock valued at $565,000 after acquiring an additional 7,007 shares during the last quarter. 14.49% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Weiss Ratings upgraded Black Stone Minerals from a “hold (c-)” rating to a “hold (c)” rating in a research note on Thursday, August 20th. Zacks Research lowered shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research note on Friday, October 16th. Three equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Reduce” and an average price target of $15.00.

Black Stone Minerals Company Profile

Black Stone Minerals, L.P. is a Houston-based owner of oil and natural gas mineral and royalty interests. The company leases these interests to exploration and production companies, which develop and operate the properties. Black Stone Minerals generally does not drill wells itself. Instead, it earns royalties and other payments tied to production from wells on its properties, including oil, natural gas and natural gas liquids. Its portfolio spans multiple onshore oil and gas regions across the United States, including areas in the Permian Basin, Haynesville shale and Eagle Ford.