D Mark Dewalch Acquires 37,650 Shares of Black Stone Minerals (NYSE:BSM) Stock

Black Stone Minerals, L.P. (NYSE:BSM) Director D Mark Dewalch bought 37,650 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was acquired at an average cost of $13.21 per share, for a total transaction of $497,356.50. Following the completion of the purchase, the director directly owned 431,495 shares in the company, valued at approximately $5,700,048.95. This represents a 9.56% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Black Stone Minerals Trading Up 1.7%

BSM opened at $13.54 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34. The company’s 50 day simple moving average is $14.16 and its two-hundred day simple moving average is $14.30. Black Stone Minerals, L.P. has a 1-year low of $11.78 and a 1-year high of $15.49. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 10.66 and a beta of 0.07.

Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, May 4th. The oil and gas producer reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.19). Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%.The business had revenue of $59.36 million during the quarter, compared to analysts’ expectations of $107.38 million. Analysts expect that Black Stone Minerals, L.P. will post 0.93 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 8.9%. The ex-dividend date of this dividend was Friday, May 8th. Black Stone Minerals’s dividend payout ratio (DPR) is 94.49%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Zacks Research lowered shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Weiss Ratings reissued a “hold (c)” rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Royal Bank Of Canada started coverage on shares of Black Stone Minerals in a research report on Friday. They set a “sector perform” rating and a $16.00 price target on the stock. Finally, Piper Sandler lifted their price target on shares of Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Four analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Black Stone Minerals presently has a consensus rating of “Reduce” and a consensus price target of $15.00.

Institutional Trading of Black Stone Minerals

Several institutional investors have recently made changes to their positions in BSM. Royal Bank of Canada raised its position in shares of Black Stone Minerals by 7.0% during the 1st quarter. Royal Bank of Canada now owns 119,894 shares of the oil and gas producer’s stock valued at $1,831,000 after buying an additional 7,818 shares during the period. Invesco Ltd. raised its position in shares of Black Stone Minerals by 10.2% during the 2nd quarter. Invesco Ltd. now owns 94,180 shares of the oil and gas producer’s stock valued at $1,232,000 after buying an additional 8,730 shares during the period. Jump Financial LLC purchased a new stake in shares of Black Stone Minerals during the 2nd quarter valued at approximately $1,230,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Black Stone Minerals by 5.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 963,313 shares of the oil and gas producer’s stock valued at $12,600,000 after buying an additional 49,818 shares during the period. Finally, Raymond James Financial Inc. raised its position in shares of Black Stone Minerals by 6.6% during the 2nd quarter. Raymond James Financial Inc. now owns 263,307 shares of the oil and gas producer’s stock valued at $3,444,000 after buying an additional 16,237 shares during the period. Hedge funds and other 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.