Key Points
- Director D Mark Dewalch bought 36,363 shares of Black Stone Minerals (NYSE: BSM) on May 29 at an average price of $13.48, a purchase worth about $490,173. The transaction increased his ownership by 6.51% to 594,885 shares.
- Dewalch has been actively buying BSM shares in recent days, including another 36,363-share purchase on June 1 and 37,650 shares on May 28. The repeated insider buying may signal confidence in the stock.
- Black Stone Minerals reported weak quarterly results and offers a high dividend yield, posting EPS of $0.03 versus expectations of $0.22 and revenue of $59.36 million versus $107.38 million expected. The company also pays a $0.30 quarterly dividend, implying an annualized yield of 8.8%.
Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) Director D Mark Dewalch acquired 36,363 shares of the stock in a transaction that occurred on Friday, May 29th. The shares were acquired at an average cost of $13.48 per share, with a total value of $490,173.24. Following the transaction, the director owned 594,885 shares in the company, valued at approximately $8,019,049.80. The trade was a 6.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website.
D Mark Dewalch also recently made the following trade(s):
- On Monday, June 1st, D Mark Dewalch acquired 36,363 shares of Black Stone Minerals stock. The shares were acquired at an average cost of $13.62 per share, with a total value of $495,264.06.
- On Thursday, May 28th, D Mark Dewalch acquired 37,650 shares of Black Stone Minerals stock. The shares were acquired at an average cost of $13.21 per share, with a total value of $497,356.50.
Black Stone Minerals Price Performance
Shares of NYSE:BSM opened at $13.61 on Wednesday. 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 fifty-two week low of $11.78 and a fifty-two week high of $15.49. The firm has a 50-day simple moving average of $14.12 and a 200 day simple moving average of $14.31. The company has a market cap of $2.89 billion, a PE ratio of 10.72 and a beta of 0.05.
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 earnings per share for the quarter, missing analysts' consensus estimates 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 the consensus estimate of $107.38 million. On average, sell-side analysts anticipate that Black Stone Minerals, L.P. will post 0.92 EPS for the current year.
Black Stone Minerals Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were given a $0.30 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.20 annualized dividend and a yield of 8.8%. Black Stone Minerals's dividend payout ratio (DPR) is currently 94.49%.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of BSM. Farther Finance Advisors LLC grew its position in Black Stone Minerals by 61.0% in the 4th 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. Axiom Investment Management LLC bought a new position in Black Stone Minerals in the 1st quarter worth about $37,000. Garton & Associates Financial Advisors LLC bought a new position in Black Stone Minerals in the 4th quarter worth about $43,000. Newbridge Financial Services Group Inc. grew its position in Black Stone Minerals by 65.8% in the 4th 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. Finally, Summit Securities Group LLC bought a new position in Black Stone Minerals in the 1st quarter worth about $83,000. Institutional investors own 14.49% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have weighed in on BSM shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Black Stone Minerals in a research report on Friday, April 24th. Royal Bank Of Canada began coverage on shares of Black Stone Minerals in a research report on Friday. They issued a "sector perform" rating and a $16.00 target price for the company. 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. Finally, Piper Sandler upped their target price on shares of Black Stone Minerals from $13.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, March 5th. Four equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Reduce" and an average price target of $15.00.
Get Our Latest Report on Black Stone Minerals
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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