Insider Buying: Black Stone Minerals, L.P. (NYSE:BSM) Director Acquires 34,200 Shares of Stock

Black Stone Minerals, L.P. (NYSE:BSM) Director D Mark Dewalch acquired 34,200 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $14.62 per share, with a total value of $500,004.00. Following the completion of the acquisition, the director now owns 357,005 shares of the company’s stock, valued at approximately $5,219,413.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Black Stone Minerals Price Performance

Shares of NYSE:BSM opened at $14.79 on Friday. The stock has a market capitalization of $3.11 billion, a P/E ratio of 9.60 and a beta of 0.93. The business has a 50-day moving average of $15.37 and a two-hundred day moving average of $15.69. Black Stone Minerals, L.P. has a fifty-two week low of $13.94 and a fifty-two week high of $18.55.

Black Stone Minerals (NYSE:BSM) last announced its earnings results on Monday, August 5th. The oil and gas producer reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). Black Stone Minerals had a return on equity of 38.71% and a net margin of 66.29%. The company had revenue of $109.62 million for the quarter, compared to the consensus estimate of $124.24 million. During the same period in the previous year, the company earned $0.35 EPS. As a group, research analysts expect that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were issued a $0.375 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.50 annualized dividend and a yield of 10.14%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 97.40%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. KeyCorp began coverage on Black Stone Minerals in a report on Thursday, June 27th. They issued a “sector weight” rating on the stock. Finally, Piper Sandler reduced their target price on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $17.50.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Nomura Holdings Inc. bought a new position in shares of Black Stone Minerals in the fourth quarter worth about $5,635,000. International Assets Investment Management LLC increased its position in Black Stone Minerals by 1,296.7% in the 4th quarter. International Assets Investment Management LLC now owns 223,647 shares of the oil and gas producer’s stock worth $3,569,000 after buying an additional 207,634 shares during the period. Investment Management Associates Inc. ADV lifted its holdings in shares of Black Stone Minerals by 18.3% during the fourth quarter. Investment Management Associates Inc. ADV now owns 1,221,389 shares of the oil and gas producer’s stock worth $19,493,000 after buying an additional 188,975 shares during the last quarter. Prevail Innovative Wealth Advisors LLC bought a new stake in shares of Black Stone Minerals in the first quarter valued at approximately $2,560,000. Finally, Magnolia Capital Advisors LLC acquired a new stake in shares of Black Stone Minerals in the second quarter worth $2,480,000. Institutional investors and hedge funds own 14.49% of the company’s stock.

Black Stone Minerals Company Profile

Black Stone Minerals, L.P., together with its subsidiaries, owns and manages oil and natural gas mineral interests. It owns mineral interests in approximately 16.8 million gross acres, nonparticipating royalty interests in 1.8 million gross acres, and overriding royalty interests in 1.6 million gross acres located in 41 states in the United States.