Key Points
- Chairman Thomas Carter, Jr. bought 1,120 Black Stone Minerals shares at $13.50 each, a transaction worth about $15,120, slightly increasing his direct ownership.
- Black Stone Minerals recently reported weak quarterly results, posting EPS of $0.03 versus estimates of $0.22 and revenue of $59.36 million versus expectations of $107.38 million.
- The company declared a quarterly dividend of $0.30 per share, which annualizes to $1.20 and implies an attractive 8.7% yield, though the payout ratio is high at 94.49%.
Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) Chairman Thomas Carter, Jr. bought 1,120 shares of the stock in a transaction that occurred on Wednesday, May 13th. The shares were purchased at an average cost of $13.50 per share, with a total value of $15,120.00. Following the purchase, the chairman directly owned 3,682,724 shares of the company's stock, valued at $49,716,774. The trade was a 0.03% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website.
Black Stone Minerals Price Performance
Shares of NYSE BSM opened at $13.76 on Friday. Black Stone Minerals, L.P. has a twelve month low of $11.78 and a twelve month high of $15.49. The firm has a fifty day simple moving average of $14.49 and a 200 day simple moving average of $14.27. The company has a market capitalization of $2.92 billion, a PE ratio of 10.83 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 (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). The company had revenue of $59.36 million during 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%. On average, sell-side analysts forecast that Black Stone Minerals, L.P. will post 0.93 EPS 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. Stockholders 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 dividend yield of 8.7%. The ex-dividend date is Friday, May 8th. Black Stone Minerals's dividend payout ratio (DPR) is currently 94.49%.
Analyst Ratings Changes
A number of research analysts have recently issued reports on the stock. 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 report on Thursday, March 5th. Weiss Ratings restated a "hold (c)" rating on shares of Black Stone Minerals in a 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 report on Tuesday, April 21st. Three analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $14.00.
Get Our Latest Research Report on Black Stone Minerals
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BSM. Farther Finance Advisors LLC boosted its holdings in 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 worth $32,000 after purchasing an additional 900 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in Black Stone Minerals during the fourth quarter worth about $43,000. Newbridge Financial Services Group Inc. boosted its holdings in Black Stone Minerals by 65.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 4,943 shares of the oil and gas producer's stock worth $66,000 after purchasing an additional 1,962 shares during the last quarter. Summit Securities Group LLC bought a new stake in Black Stone Minerals in the first quarter worth about $83,000. Finally, Kestra Advisory Services LLC bought a new stake in Black Stone Minerals in the fourth quarter worth about $86,000. 14.49% of the stock is currently owned by hedge funds and other institutional investors.
Black Stone Minerals Company Profile
(
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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