Thomas L. Carter, Jr. Acquires 19,710 Shares of Black Stone Minerals, L.P. (NYSE:BSM) Stock

Key Points

• CEO Thomas L. Carter, Jr. of Black Stone Minerals, L.P. acquired 19,710 shares at an average price of $12.24 per share, increasing his total ownership to approximately 3.37 million shares.
• Black Stone Minerals reported a quarterly EPS of $0.53, significantly exceeding analyst estimates of $0.30, with revenues reaching $159.49 million.
• The company announced a quarterly dividend of $0.30 per share, representing an annualized dividend yield of 9.9%.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) CEO Thomas L. Carter, Jr. acquired 19,710 shares of Black Stone Minerals stock in a transaction that occurred on Thursday, August 7th. The stock was purchased at an average price of $12.24 per share, with a total value of $241,250.40. Following the transaction, the chief executive officer owned 3,369,331 shares of the company's stock, valued at $41,240,611.44. This trade represents a 0.59% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Black Stone Minerals Price Performance

Shares of BSM traded down $0.03 during mid-day trading on Friday, reaching $12.42. 22,199 shares of the company's stock were exchanged, compared to its average volume of 446,480. 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 company has a 50-day simple moving average of $12.91 and a two-hundred day simple moving average of $13.93. Black Stone Minerals, L.P. has a 52-week low of $11.96 and a 52-week high of $15.66. The company has a market cap of $2.62 billion, a price-to-earnings ratio of 10.71 and a beta of 0.28.

Black Stone Minerals (NYSE:BSM - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share 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 analysts' expectations of $112.19 million. On average, sell-side analysts predict that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 9.7%. Black Stone Minerals's payout ratio is currently 103.45%.

Institutional Trading of Black Stone Minerals

Several hedge funds and other institutional investors have recently bought and sold shares of BSM. SVB Wealth LLC purchased a new stake in Black Stone Minerals in the 1st quarter worth approximately $25,000. PNC Financial Services Group Inc. purchased a new stake in shares of Black Stone Minerals during the 1st quarter valued at $29,000. NBC Securities Inc. grew its stake in shares of 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 during the period. North Capital Inc. purchased a new stake in shares of Black Stone Minerals during the 1st quarter valued at $46,000. Finally, Motco purchased a new stake in shares of Black Stone Minerals during the 2nd quarter valued at $46,000. 14.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BSM shares. Wall Street Zen downgraded 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 price target on shares of Black Stone Minerals from $14.00 to $13.00 and set a "neutral" rating for the company in a research report on Thursday.

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.