Insider Selling: Black Stone Minerals, L.P. (NYSE:BSM) SVP Sells 36,900 Shares of Stock

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) SVP Carrie Pearson Clark sold 36,900 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $13.56, for a total value of $500,364.00. Following the completion of the sale, the senior vice president now owns 165,857 shares in the company, valued at $2,249,020.92. This represents a 18.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Black Stone Minerals Trading Up 0.4%

Shares of NYSE BSM traded up $0.06 during trading hours on Tuesday, hitting $13.59. 11,295 shares of the company traded hands, compared to its average volume of 427,726. The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 8.39 and a beta of 0.34. The company's 50 day moving average price is $14.07 and its 200 day moving average price is $14.62. Black Stone Minerals, L.P. has a 12 month low of $12.80 and a 12 month high of $16.30.

Black Stone Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 11.04%. The ex-dividend date was Thursday, May 8th. Black Stone Minerals's dividend payout ratio is currently 163.04%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on BSM shares. Wall Street Zen cut shares of Black Stone Minerals from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Piper Sandler reduced their target price on shares of Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Finally, Royal Bank of Canada upgraded shares of Black Stone Minerals to a "hold" rating in a research report on Friday, March 14th.

Hedge Funds Weigh In On Black Stone Minerals

Large investors have recently bought and sold shares of the business. SVB Wealth LLC bought a new stake in shares of Black Stone Minerals during the first quarter worth $25,000. PNC Financial Services Group Inc. bought a new position in shares of Black Stone Minerals in the first quarter worth about $29,000. Jones Financial Companies Lllp increased its stake in Black Stone Minerals by 100.0% in the 4th quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer's stock worth $29,000 after buying an additional 1,000 shares during the period. NBC Securities Inc. lifted its holdings 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 buying an additional 2,024 shares in the last quarter. Finally, North Capital Inc. purchased a new stake in Black Stone Minerals in the 1st quarter valued at about $46,000. Hedge funds and other 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.