Key Points
- Luke Stevens Putman, SVP, sold 29,386 shares on May 5 at $13.75 for $404,057.50 under a pre-arranged Rule 10b5-1 plan, trimming his stake by 4.01% to 702,645 shares (≈$9.66M).
- Black Stone Minerals missed quarterly expectations, reporting $0.03 EPS versus $0.22 expected and revenue of $59.36M compared to $107.38M consensus.
- The company announced a $0.30 quarterly dividend (annualized $1.20) implying a yield of about 8.8%, with a high payout ratio near 94.5% that may raise sustainability concerns.
Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) SVP Luke Stevens Putman sold 29,386 shares of the company's stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $13.75, for a total transaction of $404,057.50. Following the completion of the transaction, the senior vice president owned 702,645 shares in the company, valued at approximately $9,661,368.75. The trade was a 4.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Luke Stevens Putman also recently made the following trade(s):
- On Monday, April 6th, Luke Stevens Putman sold 29,386 shares of Black Stone Minerals stock. The stock was sold at an average price of $14.45, for a total transaction of $424,627.70.
- On Thursday, March 5th, Luke Stevens Putman sold 30,276 shares of Black Stone Minerals stock. The stock was sold at an average price of $15.25, for a total transaction of $461,709.00.
Black Stone Minerals Trading Down 0.9%
NYSE BSM opened at $13.57 on Thursday. The company's 50-day moving average price is $14.68 and its 200-day moving average price is $14.24. The company has a current ratio of 3.88, a quick ratio of 3.88 and a debt-to-equity ratio of 0.19. The stock has a market cap of $2.88 billion, a PE ratio of 10.68 and a beta of 0.07. Black Stone Minerals, L.P. has a 12 month low of $11.78 and a 12 month high of $15.49.
Black Stone Minerals (NYSE:BSM - Get Free Report) last posted its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.19). Black Stone Minerals had a return on equity of 41.82% and a net margin of 61.67%.The company had revenue of $59.36 million during the quarter, compared to the consensus estimate of $107.38 million. Equities research analysts forecast that Black Stone Minerals, L.P. will post 0.93 earnings per share for the current year.
Black Stone Minerals Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 8th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $1.20 dividend on an annualized basis and a yield of 8.8%. Black Stone Minerals's dividend payout ratio is 94.49%.
Analyst Ratings Changes
A number of analysts recently weighed in on BSM shares. 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. Piper Sandler upped their price objective on shares of Black Stone Minerals from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, March 5th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Three equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $14.00.
Read Our Latest Stock Analysis on BSM
Hedge Funds Weigh In On Black Stone Minerals
Hedge funds and other institutional investors have recently modified their holdings of the stock. Citigroup Inc. raised its position in shares of Black Stone Minerals by 36.2% in the 3rd quarter. Citigroup Inc. now owns 347,200 shares of the oil and gas producer's stock valued at $4,562,000 after purchasing an additional 92,193 shares during the last quarter. Northwestern University purchased a new position in shares of Black Stone Minerals in the 4th quarter valued at approximately $15,671,000. Alps Advisors Inc. purchased a new position in shares of Black Stone Minerals in the 3rd quarter valued at approximately $478,000. Americana Partners LLC purchased a new position in shares of Black Stone Minerals in the 3rd quarter valued at approximately $532,000. Finally, Investment Management Associates Inc. ADV raised its position 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 during the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.
About Black Stone Minerals
(
Get Free Report)
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.
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