Black Stone Minerals (NYSE:BSM) CEO Thomas Carter Jr Buys 1,307 Shares

Key Points

• CEO Thomas Carter Jr. of Black Stone Minerals bought 1,307 shares of the company at an average price of $12.07, increasing his total holdings to 3,486,865 shares valued at approximately $42 million.
• Black Stone Minerals reported a quarterly earnings per share (EPS) of $0.53, surpassing analysts' expectations by $0.23 and generating revenues of $159.49 million.
• The company recently cut its dividend to $0.30 per share with an annualized yield of 9.7%, while analysts have set a target price for the stock at $13.00, indicating a cautionary outlook.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) CEO Thomas Carter, Jr. acquired 1,307 shares of the firm's stock in a transaction on Tuesday, September 9th. The stock was purchased at an average price of $12.07 per share, with a total value of $15,775.49. Following the acquisition, the chief executive officer owned 3,486,865 shares of the company's stock, valued at $42,086,460.55. This represents a 0.04% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Black Stone Minerals Stock Up 1.8%

BSM traded up $0.22 during trading on Wednesday, reaching $12.34. The stock had a trading volume of 587,115 shares, compared to its average volume of 458,622. The stock's 50 day moving average is $12.47 and its two-hundred day moving average is $13.57. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 10.63 and a beta of 0.29. Black Stone Minerals, L.P. has a one year low of $11.78 and a one year high of $15.66.

Black Stone Minerals (NYSE:BSM - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.23. The business had revenue of $159.49 million during the quarter, compared to the consensus estimate of $112.19 million. Black Stone Minerals had a return on equity of 39.67% and a net margin of 61.21%. As a group, analysts expect 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 disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were issued a $0.30 dividend. The ex-dividend date was Thursday, August 7th. This represents a $1.20 dividend on an annualized basis and a yield of 9.7%. Black Stone Minerals's dividend payout ratio is 103.45%.

Analysts Set New Price Targets

Several brokerages have issued reports on BSM. Piper Sandler dropped their target price on Black Stone Minerals from $14.00 to $13.00 and set a "neutral" rating on the stock in a research report on Thursday, August 14th. Wall Street Zen cut Black Stone Minerals from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $13.00.

Institutional Trading of Black Stone Minerals

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. SVB Wealth LLC bought a new stake in Black Stone Minerals during the 1st quarter valued at approximately $25,000. PNC Financial Services Group Inc. bought a new stake in Black Stone Minerals during the 1st quarter valued at approximately $29,000. NBC Securities Inc. raised its stake in Black Stone Minerals by 202,400.0% during the 1st quarter. NBC Securities Inc. now owns 2,025 shares of the oil and gas producer's stock valued at $30,000 after purchasing an additional 2,024 shares during the period. Newbridge Financial Services Group Inc. raised its stake in Black Stone Minerals by 71.7% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,981 shares of the oil and gas producer's stock valued at $39,000 after purchasing an additional 1,245 shares during the period. Finally, North Capital Inc. bought a new stake in Black Stone Minerals during the 1st quarter valued at approximately $46,000. Institutional investors own 14.49% of the company's stock.

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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