Black Stone Minerals (NYSE:BSM) Sees Strong Trading Volume – Here’s What Happened

Black Stone Minerals, L.P. (NYSE:BSM) shares saw strong trading volume on Friday . Approximately 1,306,967 shares traded hands during trading, an increase of 229% from the previous session’s volume of 397,191 shares.The stock last traded at $14.0990 and had previously closed at $14.18.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Black Stone Minerals in a report on Tuesday, July 21st. Zacks Research raised Black Stone Minerals from a “strong sell” rating to a “hold” rating in a report on Friday, July 31st. Finally, Royal Bank Of Canada initiated coverage on shares of Black Stone Minerals in a research report on Friday, May 29th. They set a “sector perform” rating and a $16.00 target price on the stock. Five equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Black Stone Minerals currently has an average rating of “Hold” and a consensus price target of $15.00.

Black Stone Minerals Stock Down 0.3%

The business’s fifty day simple moving average is $14.11 and its 200 day simple moving average is $14.40. The stock has a market cap of $3.00 billion, a price-to-earnings ratio of 11.68 and a beta of 0.04. The company has a current ratio of 3.76, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Monday, August 3rd. The oil and gas producer reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.24. Black Stone Minerals had a return on equity of 41.48% and a net margin of 61.72%.The company had revenue of $148.97 million for the quarter, compared to the consensus estimate of $108.28 million. Equities analysts forecast that Black Stone Minerals, L.P. will post 0.96 earnings per share for the current fiscal year.

Black Stone Minerals Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Thursday, August 6th will be issued a $0.32 dividend. This is a boost from Black Stone Minerals’s previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 9.1%. The ex-dividend date is Thursday, August 6th. Black Stone Minerals’s dividend payout ratio is currently 105.79%.

Insider Buying and Selling at Black Stone Minerals

In related news, Director D Mark Dewalch bought 37,650 shares of Black Stone Minerals stock in a transaction on Thursday, May 28th. The shares were purchased at an average price of $13.21 per share, for a total transaction of $497,356.50. Following the completion of the acquisition, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ashley J. Longmaid sold 11,128 shares of the business’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $13.45, for a total value of $149,671.60. Following the transaction, the director owned 137,335 shares of the company’s stock, valued at $1,847,155.75. The trade was a 7.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have purchased 155,650 shares of company stock valued at $2,092,860. 17.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Black Stone Minerals

Large investors have recently bought and sold shares of the company. Royal Bank of Canada boosted its position in shares of Black Stone Minerals by 7.0% during the first quarter. Royal Bank of Canada now owns 119,894 shares of the oil and gas producer’s stock worth $1,831,000 after purchasing an additional 7,818 shares in the last quarter. Invesco Ltd. raised its stake in 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 worth $1,232,000 after buying an additional 8,730 shares during the period. Jump Financial LLC acquired a new stake in Black Stone Minerals during the 2nd quarter worth $1,230,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Black Stone Minerals by 5.5% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 963,313 shares of the oil and gas producer’s stock worth $12,600,000 after acquiring an additional 49,818 shares in the last quarter. Finally, Raymond James Financial Inc. lifted its holdings in Black Stone Minerals by 6.6% during the second quarter. Raymond James Financial Inc. now owns 263,307 shares of the oil and gas producer’s stock worth $3,444,000 after acquiring an additional 16,237 shares in the last quarter. Institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Company Profile

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.