D Mark Dewalch Purchases 36,363 Shares of Black Stone Minerals (NYSE:BSM) Stock

Key Points

• Director D Mark Dewalch bought 36,363 shares of Black Stone Minerals on May 29 at an average price of $13.48, spending about $490,173. After the purchase, he held 594,885 shares, a 6.51% increase in his position.
• Black Stone Minerals shares were flat at $13.61 in midday trading, with a market cap of $2.89 billion and a dividend yield of 8.8%. The company’s quarterly dividend was $0.30 per share, or $1.20 annualized.
• The company missed earnings expectations in its latest quarter, reporting $0.03 EPS versus $0.22 expected and revenue of $59.36 million versus $107.38 million forecast. Wall Street’s consensus rating remains Reduce, with a target price of $15.00.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) Director D Mark Dewalch bought 36,363 shares of the stock in a transaction on Friday, May 29th. The stock was acquired at an average price of $13.48 per share, with a total value of $490,173.24. Following the completion of the acquisition, the director owned 594,885 shares of the company's stock, valued at $8,019,049.80. This represents a 6.51% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

D Mark Dewalch also recently made the following trade(s):

• On Monday, June 1st, D Mark Dewalch bought 36,363 shares of Black Stone Minerals stock. The stock was acquired at an average price of $13.62 per share, with a total value of $495,264.06.
• On Thursday, May 28th, D Mark Dewalch acquired 37,650 shares of Black Stone Minerals stock. The stock was purchased at an average cost of $13.21 per share, with a total value of $497,356.50.

Black Stone Minerals Stock Up 0.0%

Black Stone Minerals stock traded up $0.00 during mid-day trading on Tuesday, reaching $13.61. The stock had a trading volume of 346,545 shares, compared to its average volume of 411,497. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. Black Stone Minerals, L.P. has a fifty-two week low of $11.78 and a fifty-two week high of $15.49. The stock's 50-day simple moving average is $14.12 and its 200-day simple moving average is $14.31. The firm has a market capitalization of $2.89 billion, a PE ratio of 10.72 and a beta of 0.05.

Black Stone Minerals (NYSE:BSM - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.03 EPS for the quarter, missing analysts' consensus estimates of $0.22 by ($0.19). Black Stone Minerals had a net margin of 61.67% and a return on equity of 42.40%. The firm had revenue of $59.36 million during the quarter, compared to analyst estimates of $107.38 million. On average, sell-side analysts forecast that Black Stone Minerals, L.P. will post 0.93 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.20 annualized dividend and a dividend yield of 8.8%. Black Stone Minerals's payout ratio is presently 94.49%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on BSM. Royal Bank Of Canada began coverage on Black Stone Minerals in a report on Friday. They set a "sector perform" rating and a $16.00 price target on the stock. Piper Sandler boosted their target price on Black Stone Minerals from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, March 5th. Zacks Research lowered Black Stone Minerals from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Black Stone Minerals in a research report on Friday, April 24th. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Reduce" and a consensus target price of $15.00.

Institutional Investors Weigh In On Black Stone Minerals

Several institutional investors have recently bought and sold shares of BSM. Doliver Advisors LP increased its position in Black Stone Minerals by 2.5% during the 4th quarter. Doliver Advisors LP now owns 35,024 shares of the oil and gas producer's stock valued at $465,000 after buying an additional 850 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Black Stone Minerals by 61.0% during the 4th quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 900 shares during the last quarter. WMG Financial Advisors LLC boosted its stake in Black Stone Minerals by 6.3% during the 4th quarter. WMG Financial Advisors LLC now owns 16,750 shares of the oil and gas producer's stock valued at $223,000 after purchasing an additional 1,000 shares during the last quarter. Moody National Bank Trust Division boosted its stake in shares of Black Stone Minerals by 5.7% in the 4th quarter. Moody National Bank Trust Division now owns 20,221 shares of the oil and gas producer's stock worth $269,000 after buying an additional 1,085 shares during the last quarter. Finally, IHT Wealth Management LLC boosted its stake in shares of Black Stone Minerals by 5.1% in 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. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

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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