Black Stone Minerals (NYSE:BSM) Director James Whitehead Sells 2,127,105 Shares of Stock

Key Points

• Director James Whitehead sold 2,127,105 Black Stone Minerals shares at an average price of $13.21, generating approximately $28.1 million in proceeds.
• Black Stone Minerals reported quarterly EPS of $0.47, beating estimates of $0.23, while revenue of $148.97 million exceeded the $108.28 million consensus forecast.
• The company increased its quarterly dividend to $0.32 per share, or $1.28 annually, implying an approximately 8.9% yield; analysts maintain a consensus “Hold” rating with a $15 average price target.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) Director James Whitehead sold 2,127,105 shares of the business's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $13.21, for a total value of $28,099,057.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Black Stone Minerals Stock Performance

Shares of Black Stone Minerals stock traded up $0.22 during trading on Monday, reaching $14.32. The company's stock had a trading volume of 340,132 shares, compared to its average volume of 398,962. The company has a 50-day moving average price of $14.12 and a two-hundred day moving average price of $14.40. Black Stone Minerals, L.P. has a fifty-two week low of $11.78 and a fifty-two week high of $15.49. The firm has a market cap of $3.04 billion, a PE ratio of 11.83 and a beta of 0.04. The company has a current ratio of 3.76, a quick ratio of 3.76 and a debt-to-equity ratio of 0.24.

Black Stone Minerals (NYSE:BSM - Get Free Report) last announced its earnings results on Monday, August 3rd. The oil and gas producer reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.24. The company had revenue of $148.97 million for the quarter, compared to the consensus estimate of $108.28 million. Black Stone Minerals had a return on equity of 41.48% and a net margin of 61.72%. On average, analysts forecast that Black Stone Minerals, L.P. will post 0.96 EPS for the current year.

Black Stone Minerals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Shareholders of record on Thursday, August 6th will be given a dividend of $0.32 per share. The ex-dividend date is Thursday, August 6th. This is a positive change from Black Stone Minerals's previous quarterly dividend of $0.30. This represents a $1.28 dividend on an annualized basis and a yield of 8.9%. Black Stone Minerals's dividend payout ratio (DPR) is presently 105.79%.

Institutional Investors Weigh In On Black Stone Minerals

Institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its stake in Black Stone Minerals by 61.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer's stock worth $32,000 after purchasing an additional 900 shares during the last quarter. Axiom Investment Management LLC bought a new position in shares of Black Stone Minerals during the first quarter worth about $37,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Black Stone Minerals in the fourth quarter valued at approximately $43,000. Summit Securities Group LLC acquired a new stake in Black Stone Minerals in the 1st quarter valued at approximately $83,000. Finally, Kestra Advisory Services LLC acquired a new position in shares of Black Stone Minerals during the fourth quarter valued at $86,000. 14.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on BSM shares. Weiss Ratings cut Black Stone Minerals from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday. Zacks Research raised Black Stone Minerals from a "strong sell" rating to a "hold" rating in a research report on Friday, July 31st. Finally, Royal Bank Of Canada initiated coverage on shares of Black Stone Minerals in a report on Friday, May 29th. They issued a "sector perform" rating and a $16.00 price target on the stock. Five investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, Black Stone Minerals has a consensus rating of "Hold" and an average target price of $15.00.

About Black Stone Minerals

Black Stone Minerals L.P. NYSE: BSM is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company's business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.

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