Key Points
- Chairman Thomas Carter, Jr. bought 19,154 shares of Black Stone Minerals at $13.48 each, a purchase worth about $258,196, increasing his holdings by 0.52%.
- The company reported weak quarterly earnings, posting $0.03 EPS versus the $0.22 analyst estimate and revenue of $59.36 million versus expectations of $107.38 million.
- Black Stone Minerals also declared a quarterly dividend of $0.30 per share, or $1.20 annualized, implying an 8.9% yield; the payout ratio is 94.49%.
Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) Chairman Thomas Carter, Jr. bought 19,154 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average cost of $13.48 per share, with a total value of $258,195.92. Following the transaction, the chairman owned 3,681,604 shares of the company's stock, valued at $49,628,021.92. This represents a 0.52% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Black Stone Minerals Stock Up 0.9%
Black Stone Minerals stock opened at $13.50 on Wednesday. The company has a market cap of $2.87 billion, a P/E ratio of 10.63 and a beta of 0.07. Black Stone Minerals, L.P. has a 1-year low of $11.78 and a 1-year high of $15.49. The company has a fifty day simple moving average of $14.55 and a 200 day simple moving average of $14.26. 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 (NYSE:BSM - Get Free Report) last issued 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). The firm had revenue of $59.36 million for 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%. Research analysts anticipate that Black Stone Minerals, L.P. will post 0.93 earnings per share for the current fiscal year.
Black Stone Minerals Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Friday, May 8th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 8.9%. The ex-dividend date is Friday, May 8th. Black Stone Minerals's payout ratio is presently 94.49%.
Institutional Inflows and Outflows
A number of large investors have recently added to or reduced their stakes in the business. Doliver Advisors LP grew its holdings in Black Stone Minerals by 2.5% during the 4th quarter. Doliver Advisors LP now owns 35,024 shares of the oil and gas producer's stock worth $465,000 after acquiring an additional 850 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Black Stone Minerals by 61.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer's stock valued at $32,000 after acquiring an additional 900 shares during the last quarter. MAS Advisors LLC lifted its holdings in shares of Black Stone Minerals by 3.5% during the third quarter. MAS Advisors LLC now owns 27,089 shares of the oil and gas producer's stock worth $356,000 after purchasing an additional 913 shares during the period. Avidian Wealth Enterprises LLC lifted its holdings in shares of Black Stone Minerals by 3.4% during the third quarter. Avidian Wealth Enterprises LLC now owns 30,000 shares of the oil and gas producer's stock worth $394,000 after purchasing an additional 1,000 shares during the period. Finally, WMG Financial Advisors LLC grew its stake in shares of Black Stone Minerals by 6.3% in the fourth quarter. WMG Financial Advisors LLC now owns 16,750 shares of the oil and gas producer's stock worth $223,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 14.49% of the company's stock.
Wall Street Analyst Weigh In
BSM has been the topic of several research reports. Piper Sandler upped their price objective on shares of Black Stone Minerals from $13.00 to $14.00 and gave the company a "neutral" rating in a report on Thursday, March 5th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Black Stone Minerals in a research report on Friday, April 24th. Finally, Zacks Research cut shares of Black Stone Minerals from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 21st. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Black Stone Minerals currently has a consensus rating of "Reduce" and a consensus price target of $14.00.
Get Our Latest Report on BSM
Black Stone Minerals Company Profile
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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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