Black Stone Minerals (NYSE:BSM) CEO Thomas L. Carter, Jr. Purchases 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 L. Carter, Jr. bought 1,307 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were acquired at an average cost of $12.07 per share, with a total value of $15,775.49. Following the completion of the purchase, the chief executive officer owned 3,486,865 shares in the company, valued at approximately $42,086,460.55. This represents a 0.04% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Black Stone Minerals Stock Performance

Shares of BSM stock traded up $0.12 during trading hours on Monday, reaching $12.65. 699,299 shares of the company's stock were exchanged, compared to its average volume of 502,650. The company has a market cap of $2.68 billion, a P/E ratio of 10.90 and a beta of 0.29. The company's 50 day moving average is $12.42 and its two-hundred day moving average is $13.49. Black Stone Minerals, L.P. has a 1 year low of $11.78 and a 1 year high of $15.66. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.22 and a quick ratio of 3.22.

Black Stone Minerals (NYSE:BSM - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share for the quarter, beating the consensus estimate 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. Equities research analysts anticipate that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, August 7th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 9.5%. The ex-dividend date of this dividend was Thursday, August 7th. Black Stone Minerals's dividend payout ratio (DPR) is presently 103.45%.

Hedge Funds Weigh In On Black Stone Minerals

Several hedge funds have recently bought and sold shares of BSM. Newbridge Financial Services Group Inc. boosted its holdings in shares of Black Stone Minerals by 71.7% during the second quarter. Newbridge Financial Services Group Inc. now owns 2,981 shares of the oil and gas producer's stock worth $39,000 after purchasing an additional 1,245 shares during the last quarter. Advisory Services Network LLC boosted its holdings in shares of Black Stone Minerals by 207.6% during the second quarter. Advisory Services Network LLC now owns 48,375 shares of the oil and gas producer's stock worth $606,000 after purchasing an additional 32,650 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Black Stone Minerals by 7,822.8% during the second quarter. Tower Research Capital LLC TRC now owns 7,289 shares of the oil and gas producer's stock worth $95,000 after purchasing an additional 7,197 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in shares of Black Stone Minerals by 50.2% during the second quarter. Corient Private Wealth LLC now owns 174,476 shares of the oil and gas producer's stock worth $2,282,000 after purchasing an additional 58,277 shares during the last quarter. Finally, IHT Wealth Management LLC boosted its holdings in shares of Black Stone Minerals by 5.1% during the second quarter. IHT Wealth Management LLC now owns 22,598 shares of the oil and gas producer's stock worth $296,000 after purchasing an additional 1,104 shares during the last quarter. Hedge funds and other institutional investors own 14.49% of the company's stock.

Analyst Ratings Changes

Separately, Piper Sandler dropped their price objective on Black Stone Minerals from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $13.00.

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.