Black Stone Minerals, L.P. (NYSE:BSM) CEO Thomas L. Carter, Jr. Buys 25,000 Shares

Key Points

• CEO Purchase: Black Stone Minerals, L.P. CEO Thomas L. Carter, Jr. bought 25,000 shares at an average cost of $12.10 each, increasing his ownership to 3.42 million shares valued at over $41 million.
• Earnings Beat Estimates: The company reported quarterly earnings of $0.53 per share, exceeding the analysts' expectations of $0.30, with revenues of $159.49 million surpassing estimates of $112.19 million.
• Dividend Announcement: Black Stone Minerals declared a quarterly dividend of $0.30, translating to an annualized yield of 9.9%, although the dividend payout ratio stands at 103.45%.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) CEO Thomas L. Carter, Jr. purchased 25,000 shares of the firm's stock in a transaction on Monday, August 11th. The stock was acquired at an average cost of $12.10 per share, with a total value of $302,500.00. Following the transaction, the chief executive officer directly owned 3,421,831 shares in the company, valued at $41,404,155.10. This trade represents a 0.74% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Black Stone Minerals Trading Down 1.0%

Shares of BSM traded down $0.12 on Monday, hitting $12.08. 397,417 shares of the stock traded hands, compared to its average volume of 448,110. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $2.55 billion, a P/E ratio of 10.41 and a beta of 0.28. The stock's 50 day moving average is $12.98 and its two-hundred day moving average is $13.96. Black Stone Minerals, L.P. has a 1 year low of $11.96 and a 1 year high of $15.66.

Black Stone Minerals (NYSE:BSM - Get Free Report) last posted its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.23. Black Stone Minerals had a return on equity of 39.67% and a net margin of 61.21%. The firm had revenue of $159.49 million during the quarter, compared to the consensus estimate of $112.19 million. As a group, sell-side analysts predict that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 9.9%. Black Stone Minerals's dividend payout ratio (DPR) is presently 103.45%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Grandfield & Dodd LLC bought a new stake in shares of Black Stone Minerals in the 2nd quarter worth about $397,000. Moors & Cabot Inc. increased its holdings in Black Stone Minerals by 1.4% in the second quarter. Moors & Cabot Inc. now owns 63,000 shares of the oil and gas producer's stock valued at $824,000 after buying an additional 900 shares during the last quarter. Savvy Advisors Inc. bought a new stake in Black Stone Minerals in the second quarter valued at about $202,000. Investment Management Associates Inc. ADV lifted its position in shares of Black Stone Minerals by 2.8% in the 2nd quarter. Investment Management Associates Inc. ADV now owns 1,577,887 shares of the oil and gas producer's stock worth $20,639,000 after buying an additional 42,553 shares during the last quarter. Finally, Motco bought a new position in shares of Black Stone Minerals in the 2nd quarter worth about $46,000. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BSM shares. Piper Sandler lowered their target price on shares of Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th. Wall Street Zen lowered shares of Black Stone Minerals from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th.

About Black Stone Minerals

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.

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