Black Stone Minerals, L.P. (NYSE:BSM) Director Acquires $500,004.00 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) Director D Mark Dewalch purchased 34,200 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was bought at an average price of $14.62 per share, for a total transaction of $500,004.00. Following the acquisition, the director now owns 357,005 shares in the company, valued at $5,219,413.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Black Stone Minerals Trading Up 1.5 %

NYSE:BSM opened at $14.79 on Friday. Black Stone Minerals, L.P. has a twelve month low of $13.94 and a twelve month high of $18.55. The firm has a market capitalization of $3.11 billion, a price-to-earnings ratio of 9.60 and a beta of 0.93. The firm’s fifty day simple moving average is $15.37 and its 200 day simple moving average is $15.69.

Black Stone Minerals (NYSE:BSM) last issued its earnings results on Monday, August 5th. The oil and gas producer reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.08). The company had revenue of $109.62 million during the quarter, compared to analysts’ expectations of $124.24 million. Black Stone Minerals had a return on equity of 38.71% and a net margin of 66.29%. During the same period in the previous year, the company earned $0.35 EPS. On average, analysts predict that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were given a dividend of $0.375 per share. The ex-dividend date was Friday, August 9th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.14%. Black Stone Minerals’s payout ratio is currently 97.40%.

Institutional Investors Weigh In On Black Stone Minerals

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BSM. Bogart Wealth LLC acquired a new stake in shares of Black Stone Minerals during the first quarter valued at about $26,000. Newbridge Financial Services Group Inc. grew its stake in Black Stone Minerals by 279.5% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,036 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 2,236 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Black Stone Minerals during the 2nd quarter worth approximately $74,000. SG Americas Securities LLC acquired a new position in shares of Black Stone Minerals in the 1st quarter valued at approximately $102,000. Finally, Financial Advocates Investment Management purchased a new position in shares of Black Stone Minerals during the 2nd quarter valued at approximately $159,000. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. KeyCorp initiated coverage on Black Stone Minerals in a research report on Thursday, June 27th. They issued a “sector weight” rating on the stock. Piper Sandler cut their price objective on Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday. Finally, StockNews.com upgraded Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Black Stone Minerals has a consensus rating of “Hold” and a consensus target price of $17.50.

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.