Key Points
- Director Ashley Longmaid sold 11,128 shares of Black Stone Minerals at an average price of $13.45, totaling about $149,672. After the sale, Longmaid still owned 137,335 shares, a 7.5% reduction in holdings.
- Black Stone Minerals reported weak quarterly results, posting EPS of $0.03 versus the $0.22 consensus estimate and revenue of $59.36 million versus expectations of $107.38 million.
- The company declared a quarterly dividend of $0.30 per share, implying an annualized yield of 8.9%, though its payout ratio is high at 94.49%.
Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) Director Ashley Longmaid sold 11,128 shares of Black Stone Minerals stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $13.45, for a total transaction of $149,671.60. Following the completion of the sale, the director owned 137,335 shares of the company's stock, valued at $1,847,155.75. This trade represents a 7.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Black Stone Minerals Stock Up 0.1%
BSM stock opened at $13.54 on Thursday. The firm has a 50 day moving average of $14.52 and a 200 day moving average of $14.26. The stock has a market capitalization of $2.88 billion, a PE ratio of 10.66 and a beta of 0.07. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. Black Stone Minerals, L.P. has a 52 week low of $11.78 and a 52 week high of $15.49.
Black Stone Minerals (NYSE:BSM - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.03 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.19). Black Stone Minerals had a net margin of 61.67% and a return on equity of 42.40%. The business had revenue of $59.36 million for the quarter, compared to analyst estimates of $107.38 million. Sell-side analysts forecast that Black Stone Minerals, L.P. will post 0.93 earnings per share for the current year.
Black Stone Minerals Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Friday, May 8th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 8.9%. The ex-dividend date is Friday, May 8th. Black Stone Minerals's payout ratio is presently 94.49%.
Wall Street Analysts Forecast Growth
Several brokerages have commented on BSM. Piper Sandler lifted their price objective on shares of 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 cut shares of Black Stone Minerals from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Three investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and an average price target of $14.00.
Check Out Our Latest Stock Report on BSM
Hedge Funds Weigh In On Black Stone Minerals
Institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its holdings in shares of Black Stone Minerals by 61.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 900 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in shares of Black Stone Minerals during the 4th quarter valued at approximately $43,000. Newbridge Financial Services Group Inc. increased its holdings in shares of Black Stone Minerals by 65.8% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 4,943 shares of the oil and gas producer's stock valued at $66,000 after purchasing an additional 1,962 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of Black Stone Minerals during the 1st quarter valued at approximately $83,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Black Stone Minerals during the 4th quarter valued at approximately $86,000. 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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