Insider Buying: Black Stone Minerals, L.P. (NYSE:BSM) CEO Purchases 25,000 Shares of Stock

Black Stone Minerals, L.P. (NYSE:BSM) CEO Thomas L. Carter, Jr. bought 25,000 shares of the company’s stock in a transaction dated Monday, August 11th. The stock was bought at an average cost of $12.10 per share, with a total value of $302,500.00. Following the completion of the acquisition, the chief executive officer owned 3,421,831 shares in the company, valued at $41,404,155.10. This represents a 0.74% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Black Stone Minerals Trading Down 1.0%

BSM stock opened at $12.08 on Tuesday. The business has a fifty day moving average price of $12.98 and a 200 day moving average price of $13.96. Black Stone Minerals, L.P. has a fifty-two week low of $11.96 and a fifty-two week high of $15.66. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 10.41 and a beta of 0.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.22 and a quick ratio of 3.22.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.23. Black Stone Minerals had a return on equity of 39.67% and a net margin of 61.21%. The firm had revenue of $159.49 million during the quarter, compared to analysts’ expectations of $112.19 million. Analysts expect that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.9%. Black Stone Minerals’s payout ratio is currently 103.45%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on BSM shares. Wall Street Zen cut Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. Piper Sandler dropped their price target on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Tuesday, May 13th.

Institutional Investors Weigh In On Black Stone Minerals

A number of institutional investors and hedge funds have recently made changes to their positions in BSM. Kingstone Capital Partners Texas LLC bought a new stake in shares of Black Stone Minerals during the second quarter worth $175,721,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Black Stone Minerals by 3,141.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 913,495 shares of the oil and gas producer’s stock worth $13,949,000 after acquiring an additional 885,311 shares during the last quarter. Cresset Asset Management LLC raised its position in shares of Black Stone Minerals by 500.5% during the fourth quarter. Cresset Asset Management LLC now owns 596,853 shares of the oil and gas producer’s stock worth $8,714,000 after acquiring an additional 497,457 shares during the last quarter. Aptus Capital Advisors LLC bought a new stake in shares of Black Stone Minerals during the fourth quarter worth $4,876,000. Finally, Northern Trust Corp bought a new stake in shares of Black Stone Minerals during the fourth quarter worth $4,428,000. Institutional investors own 14.49% of the company’s stock.

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.