Key Points
- Insider buying: Black Stone Minerals director D Mark Dewalch bought 37,650 shares at $13.21 each, spending about $497,356. After the purchase, he owned 431,495 shares, increasing his position by 9.56%.
- Recent performance and earnings: BSM opened at $13.33 and has traded between $11.78 and $15.49 over the past year. The company recently missed Q1 expectations, reporting $0.03 EPS versus $0.22 expected and revenue of $59.36 million versus $107.38 million forecast.
- Dividend and analyst outlook: Black Stone Minerals paid a quarterly dividend of $0.30 per share, annualizing to a 9.0% yield. Analysts currently have a consensus “Reduce” rating with a $15.00 price target, though RBC initiated coverage with a $16.00 target and “sector perform” rating.
Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) Director D Mark Dewalch purchased 37,650 shares of Black Stone Minerals stock in a transaction dated Thursday, May 28th. The shares were bought at an average cost of $13.21 per share, for a total transaction of $497,356.50. Following the transaction, the director directly owned 431,495 shares of the company's stock, valued at approximately $5,700,048.95. The trade was a 9.56% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Black Stone Minerals Stock Performance
Shares of BSM stock opened at $13.33 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. Black Stone Minerals, L.P. has a one year low of $11.78 and a one year high of $15.49. The company's 50-day simple moving average is $14.20 and its 200-day simple moving average is $14.31. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of 10.49 and a beta of 0.07.
Black Stone Minerals (NYSE:BSM - Get Free Report) last issued its quarterly earnings results 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 return on equity of 42.40% and a net margin of 61.67%.The company had revenue of $59.36 million for the quarter, compared to the consensus estimate of $107.38 million. Equities 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 firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were issued a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.20 dividend on an annualized basis and a yield of 9.0%. Black Stone Minerals's dividend payout ratio (DPR) is currently 94.49%.
Analysts Set New Price Targets
A number of brokerages have issued reports on BSM. Weiss Ratings reissued a "hold (c)" rating on shares of Black Stone Minerals in a report on Friday, April 24th. Royal Bank Of Canada began coverage on shares of Black Stone Minerals in a report on Friday. They issued a "sector perform" rating and a $16.00 target price on the stock. Piper Sandler raised their target price on shares of Black Stone Minerals from $13.00 to $14.00 and gave the stock a "neutral" rating in a report on Thursday, March 5th. 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. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Reduce" and a consensus price target of $15.00.
Check Out Our Latest Analysis on Black Stone Minerals
Hedge Funds Weigh In On Black Stone Minerals
A number of large investors have recently bought and sold shares of the business. Morgan Stanley boosted its stake in Black Stone Minerals by 57.1% during the 4th quarter. Morgan Stanley now owns 7,107,673 shares of the oil and gas producer's stock valued at $94,461,000 after purchasing an additional 2,582,823 shares during the period. Northwestern University acquired a new position in Black Stone Minerals during the 4th quarter valued at about $15,671,000. Saber Capital Managment LLC acquired a new position in Black Stone Minerals during the 4th quarter valued at about $8,389,000. Investment Management Associates Inc. ADV raised its holdings in shares of Black Stone Minerals by 22.6% during the third 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 buying an additional 356,852 shares during the last quarter. Finally, ING Groep NV raised its holdings in shares of Black Stone Minerals by 216.6% during the third quarter. ING Groep NV now owns 509,700 shares of the oil and gas producer's stock valued at $6,697,000 after buying an additional 348,700 shares during the last quarter. Institutional investors own 14.49% of the company's stock.
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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