Black Stone Minerals (NYSE:BSM) Chairman Thomas Carter Jr Acquires 50,000 Shares of Company Stock

Key Points

• Chairman Thomas Carter Jr. bought 50,000 shares at an average of $13.73, investing $686,500 and increasing his direct holdings by 1.36% to about 3.73 million shares.
• Black Stone Minerals’ latest quarter fell short of estimates: EPS was $0.21 versus $0.26 expected, while revenue was $99.73 million versus $116.41 million expected.
• The company raised its quarterly dividend from $0.32 to $0.35 per share, equivalent to a 10.3% yield at the article’s cited share price. Analysts’ consensus rating is “Reduce,” with a $15 target price.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) Chairman Thomas Carter, Jr. bought 50,000 shares of the company's stock in a transaction that occurred on Monday, November 9th. The shares were bought at an average price of $13.73 per share, with a total value of $686,500.00. Following the completion of the acquisition, the chairman directly owned 3,732,724 shares in the company, valued at $51,250,300.52. This trade represents a 1.36% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Black Stone Minerals Trading Down 0.7%

BSM traded down $0.10 on Tuesday, hitting $13.64. 572,250 shares of the company were exchanged, compared to its average volume of 411,538. The company has a debt-to-equity ratio of 0.25, a quick ratio of 3.76 and a current ratio of 1.78. Black Stone Minerals, L.P. has a 12 month low of $12.95 and a 12 month high of $15.49. The firm has a fifty day simple moving average of $14.71 and a two-hundred day simple moving average of $14.50. The stock has a market capitalization of $2.90 billion, a PE ratio of 13.38 and a beta of 0.14.

Black Stone Minerals (NYSE:BSM - Get Free Report) last released its quarterly earnings data on Monday, November 2nd. The oil and gas producer reported $0.21 earnings per share for the quarter, missing analysts' consensus estimates of $0.26 by ($0.05). Black Stone Minerals had a net margin of 57.23% and a return on equity of 36.99%. The company had revenue of $99.73 million for the quarter, compared to analysts' expectations of $116.41 million. Sell-side analysts expect that Black Stone Minerals, L.P. will post 0.70 earnings per share for the current year.

Black Stone Minerals Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Investors of record on Friday, November 6th will be paid a $0.35 dividend. The ex-dividend date of this dividend is Friday, November 6th. This is a positive change from Black Stone Minerals's previous quarterly dividend of $0.32. This represents a $1.40 annualized dividend and a dividend yield of 10.3%. Black Stone Minerals's payout ratio is presently 125.49%.

Analyst Ratings Changes

BSM has been the subject of several analyst reports. Zacks Research cut shares of Black Stone Minerals from a "hold" rating to a "strong sell" rating in a research report on Friday, October 16th. Weiss Ratings raised shares of Black Stone Minerals from a "hold (c-)" rating to a "hold (c)" rating in a report on Thursday, August 20th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and a consensus target price of $15.00.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BSM. HighTower Advisors LLC grew its stake in Black Stone Minerals by 15.4% in the third quarter. HighTower Advisors LLC now owns 727,485 shares of the oil and gas producer's stock worth $10,418,000 after purchasing an additional 97,093 shares during the period. Rahlfs Capital LLC raised its holdings in Black Stone Minerals by 21.5% in the third quarter. Rahlfs Capital LLC now owns 121,562 shares of the oil and gas producer's stock worth $1,741,000 after purchasing an additional 21,500 shares in the last quarter. Ashton Thomas Private Wealth LLC raised its holdings in Black Stone Minerals by 16.7% in the third quarter. Ashton Thomas Private Wealth LLC now owns 122,777 shares of the oil and gas producer's stock worth $1,758,000 after purchasing an additional 17,563 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in Black Stone Minerals by 103.0% in the second quarter. Redhawk Wealth Advisors Inc. now owns 34,279 shares of the oil and gas producer's stock worth $479,000 after purchasing an additional 17,390 shares in the last quarter. Finally, Doliver Advisors LP lifted its position in Black Stone Minerals by 30.4% during the second quarter. Doliver Advisors LP now owns 59,827 shares of the oil and gas producer's stock valued at $836,000 after buying an additional 13,950 shares during the period. Institutional investors own 14.49% of the company's stock.

Black Stone Minerals Company Profile

Black Stone Minerals, L.P. is a Houston-based owner of oil and natural gas mineral and royalty interests. The company leases these interests to exploration and production companies, which develop and operate the properties. Black Stone Minerals generally does not drill wells itself. Instead, it earns royalties and other payments tied to production from wells on its properties, including oil, natural gas and natural gas liquids. Its portfolio spans multiple onshore oil and gas regions across the United States, including areas in the Permian Basin, Haynesville shale and Eagle Ford.

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