Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) Director James Whitehead sold 2,127,105 shares of the firm's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $13.21, for a total value of $28,099,057.05. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Black Stone Minerals Stock Up 1.6%
NYSE:BSM opened at $14.32 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 3.76 and a quick ratio of 3.76. The firm's 50-day moving average price is $14.14 and its 200-day moving average price is $14.40. The company has a market capitalization of $3.04 billion, a PE ratio of 11.83 and a beta of 0.04. Black Stone Minerals, L.P. has a 1-year low of $11.78 and a 1-year high of $15.49.
Black Stone Minerals (NYSE:BSM - Get Free Report) last posted its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported $0.47 EPS for the quarter, topping the consensus estimate of $0.23 by $0.24. The business had revenue of $148.97 million for the quarter, compared to analyst estimates of $108.28 million. Black Stone Minerals had a net margin of 61.72% and a return on equity of 41.48%. On average, equities analysts predict that Black Stone Minerals, L.P. will post 0.96 EPS for the current fiscal year.
Black Stone Minerals Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Investors of record on Thursday, August 6th will be paid a $0.32 dividend. This represents a $1.28 annualized dividend and a dividend yield of 8.9%. The ex-dividend date is Thursday, August 6th. This is an increase from Black Stone Minerals's previous quarterly dividend of $0.30. Black Stone Minerals's dividend payout ratio (DPR) is currently 105.79%.
Wall Street Analyst Weigh In
A number of brokerages have issued reports on BSM. Royal Bank Of Canada started coverage on Black Stone Minerals in a research note on Friday, May 29th. They set a "sector perform" rating and a $16.00 price objective for the company. Weiss Ratings cut Black Stone Minerals from a "hold (c)" rating to a "hold (c-)" rating in a research note on Thursday. Finally, Zacks Research upgraded Black Stone Minerals from a "strong sell" rating to a "hold" rating in a report on Friday, July 31st. Five research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Black Stone Minerals currently has an average rating of "Hold" and a consensus price target of $15.00.
View Our Latest Stock Report on BSM
Institutional Investors Weigh In On Black Stone Minerals
Institutional investors and hedge funds have recently made changes to their positions in the company. Doliver Advisors LP raised its holdings in Black Stone Minerals by 30.4% in the 2nd quarter. Doliver Advisors LP now owns 59,827 shares of the oil and gas producer's stock worth $836,000 after acquiring an additional 13,950 shares during the last quarter. Redhawk Wealth Advisors Inc. increased its holdings in Black Stone Minerals by 103.0% in the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 34,279 shares of the oil and gas producer's stock worth $479,000 after buying an additional 17,390 shares in the last quarter. Axiom Investment Management LLC bought a new stake in Black Stone Minerals in the 1st quarter worth about $37,000. Quantinno Capital Management LP raised its position in Black Stone Minerals by 3.0% in the 1st quarter. Quantinno Capital Management LP now owns 42,516 shares of the oil and gas producer's stock worth $643,000 after buying an additional 1,228 shares during the last quarter. Finally, Aristides Capital LLC raised its position in Black Stone Minerals by 19.2% in the 1st quarter. Aristides Capital LLC now owns 42,330 shares of the oil and gas producer's stock worth $640,000 after buying an additional 6,814 shares during the last quarter. Institutional investors own 14.49% of the company's stock.
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
