Insider Buying: Black Stone Minerals (NYSE:BSM) CEO Purchases 21,000 Shares of Stock

Black Stone Minerals, L.P. (NYSE:BSM) CEO Thomas Carter, Jr. bought 21,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 20th. The stock was bought at an average price of $12.03 per share, for a total transaction of $252,630.00. Following the acquisition, the chief executive officer directly owned 3,472,031 shares of the company’s stock, valued at $41,768,532.93. The trade was a 0.61% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Black Stone Minerals Trading Up 1.0%

Shares of BSM stock opened at $12.0350 on Thursday. Black Stone Minerals, L.P. has a 12-month low of $11.90 and a 12-month high of $15.66. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average is $12.77 and its 200 day moving average is $13.85. The stock has a market capitalization of $2.55 billion, a P/E ratio of 10.38 and a beta of 0.28.

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

Black Stone Minerals Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 10.0%. Black Stone Minerals’s dividend payout ratio is presently 103.45%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BSM shares. Piper Sandler dropped their price target on shares of Black Stone Minerals from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, August 14th. Wall Street Zen cut shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.00.

Institutional Trading of Black Stone Minerals

Institutional investors and hedge funds have recently modified their holdings of the company. SVB Wealth LLC bought a new stake in shares of Black Stone Minerals during the 1st quarter valued at $25,000. PNC Financial Services Group Inc. bought a new stake in shares of Black Stone Minerals during the 1st quarter valued at $29,000. NBC Securities Inc. raised its position in shares of Black Stone Minerals by 202,400.0% during the 1st quarter. NBC Securities Inc. now owns 2,025 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 2,024 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of Black Stone Minerals by 71.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,981 shares of the oil and gas producer’s stock valued at $39,000 after purchasing an additional 1,245 shares during the period. Finally, North Capital Inc. bought a new stake in shares of Black Stone Minerals during the 1st quarter valued at $46,000. 14.49% of the stock is currently owned by institutional investors.

About Black Stone Minerals

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.