Black Stone Minerals (NYSE:BSM) CEO Acquires $176,260.00 in Stock

Key Points

• CEO Thomas Carter Jr. purchased 14,000 shares of Black Stone Minerals at an average price of $12.59, increasing his ownership to 3,512,701 shares valued at approximately $44.2 million.
• Black Stone Minerals reported a quarterly EPS of $0.53, exceeding estimates, with revenues of $159.49 million, significantly above analysts' expectations.
• The company recently cut its dividend by one cent to $0.30 per share, resulting in an annualized yield of 9.6%, but its dividend payout ratio stands at a high 103.45%.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) CEO Thomas L. Carter, Jr. bought 14,000 shares of the stock in a transaction on Friday, September 12th. The stock was purchased at an average price of $12.59 per share, with a total value of $176,260.00. Following the completion of the acquisition, the chief executive officer directly owned 3,512,701 shares in the company, valued at approximately $44,224,905.59. This trade represents a 0.40% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Black Stone Minerals Stock Up 0.9%

BSM stock traded up $0.12 during trading on Wednesday, hitting $12.95. 502,091 shares of the company's stock traded hands, compared to its average volume of 514,354. 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 $2.74 billion, a P/E ratio of 11.16 and a beta of 0.29. Black Stone Minerals, L.P. has a 1 year low of $11.78 and a 1 year high of $15.66. The business has a fifty day simple moving average of $12.40 and a two-hundred day simple moving average of $13.48.

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

Black Stone Minerals Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, August 7th were paid 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 9.3%. Black Stone Minerals's dividend payout ratio (DPR) is 103.45%.

Analyst Ratings Changes

Separately, Piper Sandler lowered their price objective on shares of 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 investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $13.00.

Institutional Investors Weigh In On Black Stone Minerals

Several hedge funds and other institutional investors have recently made changes to their positions in BSM. Doliver Advisors LP boosted its position in shares of Black Stone Minerals by 2.6% during the 1st quarter. Doliver Advisors LP now owns 31,734 shares of the oil and gas producer's stock worth $485,000 after acquiring an additional 791 shares in the last quarter. Vident Advisory LLC raised its position in Black Stone Minerals by 2.7% in the 4th quarter. Vident Advisory LLC now owns 31,738 shares of the oil and gas producer's stock valued at $463,000 after purchasing an additional 846 shares during the last quarter. Moors & Cabot Inc. boosted its stake in shares of Black Stone Minerals by 1.4% during the second quarter. Moors & Cabot Inc. now owns 63,000 shares of the oil and gas producer's stock worth $824,000 after buying an additional 900 shares during the period. MAS Advisors LLC grew its stake in shares of Black Stone Minerals by 4.1% in the 2nd quarter. MAS Advisors LLC now owns 26,176 shares of the oil and gas producer's stock valued at $342,000 after purchasing an additional 1,041 shares during the last quarter. Finally, IHT Wealth Management LLC raised its position in Black Stone Minerals by 5.1% during the 2nd quarter. IHT Wealth Management LLC now owns 22,598 shares of the oil and gas producer's stock worth $296,000 after buying an additional 1,104 shares during the last quarter. Institutional investors and hedge funds 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.