Key Points
- Director James Whitehead sold 671,210 shares of Black Stone Minerals at an average price of $13.42, for proceeds of about $9.01 million.
- The company reported quarterly EPS of $0.21, below the $0.26 consensus, and revenue of $99.73 million, below analyst estimates of $116.41 million.
- Black Stone Minerals raised its quarterly dividend from $0.32 to $0.35 per share, equivalent to an annualized $1.40 and a reported 10.3% yield.
Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) Chairman Thomas Carter, Jr. acquired 50,000 shares of the stock in a transaction on Monday, November 9th. The shares were acquired at an average cost of $13.73 per share, for a total transaction of $686,500.00. Following the completion of the transaction, the chairman directly owned 3,732,724 shares in the company, valued at $51,250,300.52. The trade was a 1.36% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Black Stone Minerals Trading Down 0.7%
NYSE BSM opened at $13.64 on Wednesday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.78 and a current ratio of 1.78. The firm has a market cap of $2.90 billion, a PE ratio of 10.82 and a beta of 0.14. Black Stone Minerals, L.P. has a one year low of $12.95 and a one year high of $15.49. The firm's fifty day moving average is $14.69 and its two-hundred day moving average is $14.50.
Black Stone Minerals (NYSE:BSM - Get Free Report) last announced its earnings results on Monday, November 2nd. The oil and gas producer reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.26 by ($0.05). Black Stone Minerals had a net margin of 57.23% and a return on equity of 36.99%. The business had revenue of $99.73 million during the quarter, compared to analysts' expectations of $116.41 million. Analysts expect that Black Stone Minerals, L.P. will post 0.70 earnings per share for the current year.
Black Stone Minerals Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be issued a dividend of $0.35 per share. This is an increase from Black Stone Minerals's previous quarterly dividend of $0.32. This represents a $1.40 dividend on an annualized basis and a dividend yield of 10.3%. The ex-dividend date of this dividend is Friday, November 6th. Black Stone Minerals's dividend payout ratio is 137.25%.
Hedge Funds Weigh In On Black Stone Minerals
Several institutional investors have recently bought and sold shares of BSM. Saber Capital Management LLC lifted its stake in shares of Black Stone Minerals by 0.3% in the 3rd quarter. Saber Capital Management LLC now owns 618,502 shares of the oil and gas producer's stock worth $8,857,000 after acquiring an additional 1,581 shares during the period. HighTower Advisors LLC boosted its holdings in shares of Black Stone Minerals by 15.4% in the third quarter. HighTower Advisors LLC now owns 727,485 shares of the oil and gas producer's stock valued at $10,418,000 after acquiring an additional 97,093 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in shares of Black Stone Minerals by 1.6% in the third quarter. Moors & Cabot Inc. now owns 62,200 shares of the oil and gas producer's stock valued at $891,000 after acquiring an additional 1,000 shares in the last quarter. Ashton Thomas Private Wealth LLC boosted its holdings in shares of Black Stone Minerals by 16.7% in the third quarter. Ashton Thomas Private Wealth LLC now owns 122,777 shares of the oil and gas producer's stock valued at $1,758,000 after acquiring an additional 17,563 shares in the last quarter. Finally, Arrow Investment Advisors LLC boosted its holdings in shares of Black Stone Minerals by 11.2% in the third quarter. Arrow Investment Advisors LLC now owns 17,184 shares of the oil and gas producer's stock valued at $246,000 after acquiring an additional 1,724 shares in the last quarter. 14.49% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the company. Zacks Research cut Black Stone Minerals from a "hold" rating to a "strong sell" rating in a research report on Friday, October 16th. Weiss Ratings raised Black Stone Minerals from a "hold (c-)" rating to a "hold (c)" rating in a research report on Thursday, August 20th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus target price of $15.00.
Check Out Our Latest Research Report on Black Stone Minerals
About Black Stone Minerals
(
Get Free Report)
Black Stone Minerals, L.P. is a Houston-based owner of oil and natural gas mineral and royalty interests. The company leases these interests to exploration and production companies, which develop and operate the properties. Black Stone Minerals generally does not drill wells itself. Instead, it earns royalties and other payments tied to production from wells on its properties, including oil, natural gas and natural gas liquids. Its portfolio spans multiple onshore oil and gas regions across the United States, including areas in the Permian Basin, Haynesville shale and Eagle Ford.
Further Reading
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