Black Stone Minerals (NYSE:BSM) Shares Gap Down to $15.72

Black Stone Minerals, L.P. (NYSE:BSM) shares gapped down prior to trading on Thursday . The stock had previously closed at $15.72, but opened at $15.14. Black Stone Minerals shares last traded at $15.40, with a volume of 300,403 shares trading hands.

Analyst Upgrades and Downgrades

BSM has been the subject of a number of analyst reports. Piper Sandler lifted their price objective on shares of Black Stone Minerals from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Stifel Nicolaus dropped their price objective on shares of Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd.

Black Stone Minerals Price Performance

The stock has a market cap of $3.25 billion, a PE ratio of 8.23 and a beta of 0.92. The firm’s 50 day moving average price is $15.73 and its two-hundred day moving average price is $16.50.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Tuesday, February 20th. The oil and gas producer reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.15. The firm had revenue of $190.84 million during the quarter, compared to the consensus estimate of $142.67 million. Black Stone Minerals had a net margin of 70.46% and a return on equity of 42.38%. During the same quarter last year, the company earned $0.71 earnings per share. Analysts anticipate that Black Stone Minerals, L.P. will post 1.42 earnings per share for the current year.

Black Stone Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 16th were paid a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.90 annualized dividend and a yield of 12.31%. Black Stone Minerals’s dividend payout ratio is currently 101.60%.

Insider Activity at Black Stone Minerals

In related news, Director D Mark Dewalch bought 3,250 shares of the company’s stock in a transaction on Monday, February 26th. The stock was acquired at an average cost of $15.47 per share, for a total transaction of $50,277.50. Following the completion of the transaction, the director now directly owns 320,436 shares in the company, valued at approximately $4,957,144.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 19.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Black Stone Minerals

Hedge funds have recently made changes to their positions in the business. NBC Securities Inc. bought a new stake in shares of Black Stone Minerals in the 3rd quarter worth approximately $29,000. Money Concepts Capital Corp bought a new stake in shares of Black Stone Minerals in the 4th quarter worth approximately $30,000. Venturi Wealth Management LLC bought a new stake in shares of Black Stone Minerals in the 3rd quarter worth approximately $31,000. HBC Financial Services PLLC bought a new stake in Black Stone Minerals during the 4th quarter valued at $31,000. Finally, Clear Street Markets LLC purchased a new stake in Black Stone Minerals during the 3rd quarter valued at $40,000. 14.49% of the stock is currently owned by institutional investors.

Black Stone Minerals Company Profile

Black Stone Minerals, L.P., together with its subsidiaries, owns and manages oil and natural gas mineral interests. It owns mineral interests in approximately 16.8 million gross acres, nonparticipating royalty interests in 1.8 million gross acres, and overriding royalty interests in 1.6 million gross acres located in 41 states in the United States.