D Mark Dewalch Buys 36,363 Shares of Black Stone Minerals (NYSE:BSM) Stock

Black Stone Minerals, L.P. (NYSE:BSM) Director D Mark Dewalch acquired 36,363 shares of the stock in a transaction dated Monday, June 1st. The stock was bought at an average price of $13.62 per share, for a total transaction of $495,264.06. Following the purchase, the director owned 631,248 shares of the company’s stock, valued at $8,597,597.76. The trade was a 6.11% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

D Mark Dewalch also recently made the following trade(s):

• On Friday, May 29th, D Mark Dewalch acquired 36,363 shares of Black Stone Minerals stock. The stock was bought at an average price of $13.48 per share, for a total transaction of $490,173.24.
• On Thursday, May 28th, D Mark Dewalch acquired 37,650 shares of Black Stone Minerals stock. The stock was bought at an average price of $13.21 per share, for a total transaction of $497,356.50.

Black Stone Minerals Trading Up 2.3%

Shares of Black Stone Minerals stock opened at $13.92 on Thursday. The company’s fifty day simple moving average is $14.07 and its 200-day simple moving average is $14.31. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 10.96 and a beta of 0.05. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24. Black Stone Minerals, L.P. has a 1 year low of $11.78 and a 1 year high of $15.49.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.19). The company had revenue of $59.36 million during the quarter, compared to analyst estimates of $107.38 million. Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%. As a group, sell-side analysts expect that Black Stone Minerals, L.P. will post 0.92 EPS for the current year.

Black Stone Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were given a dividend of $0.30 per share. The ex-dividend date was Friday, May 8th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.6%. Black Stone Minerals’s payout ratio is currently 94.49%.

Institutional Investors Weigh In On Black Stone Minerals

A number of institutional investors have recently bought and sold shares of BSM. Morgan Stanley boosted its stake in Black Stone Minerals by 57.1% during the fourth quarter. Morgan Stanley now owns 7,107,673 shares of the oil and gas producer’s stock worth $94,461,000 after buying an additional 2,582,823 shares in the last quarter. Northwestern University acquired a new stake in Black Stone Minerals during the fourth quarter worth $15,671,000. Saber Capital Managment LLC acquired a new stake in Black Stone Minerals during the fourth quarter worth $8,389,000. Investment Management Associates Inc. ADV boosted its stake in shares of Black Stone Minerals by 22.6% in the 3rd quarter. Investment Management Associates Inc. ADV now owns 1,934,739 shares of the oil and gas producer’s stock valued at $25,422,000 after purchasing an additional 356,852 shares in the last quarter. Finally, ING Groep NV boosted its stake in shares of Black Stone Minerals by 216.6% in the 3rd quarter. ING Groep NV now owns 509,700 shares of the oil and gas producer’s stock valued at $6,697,000 after purchasing an additional 348,700 shares in the last quarter. Institutional investors and hedge funds own 14.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Piper Sandler upped their target price on Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Zacks Research downgraded shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Finally, Royal Bank Of Canada started coverage on shares of Black Stone Minerals in a research note on Friday, May 29th. They set a “sector perform” rating and a $16.00 price target on the stock. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus target price of $15.00.

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.