Insider Buying: Black Stone Minerals, L.P. (NYSE:BSM) CEO Buys 27,500 Shares of Stock

Key Points

• Black Stone Minerals CEO Thomas L. Carter, Jr. purchased 27,500 shares of the company's stock at an average price of $12.20, totaling over $335,000, increasing his ownership to 3,396,831 shares valued at approximately $41.4 million.
• The company reported strong quarterly earnings of $0.53 per share, surpassing analysts' expectations of $0.30, with revenue reaching $159.49 million.
• Black Stone Minerals declared a quarterly dividend of $0.30 per share, yielding 9.9%, while its payout ratio stands at 103.45%.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) CEO Thomas L. Carter, Jr. acquired 27,500 shares of the company's stock in a transaction that occurred on Friday, August 8th. The stock was purchased at an average price of $12.20 per share, for a total transaction of $335,500.00. Following the purchase, the chief executive officer owned 3,396,831 shares of the company's stock, valued at $41,441,338.20. The trade was a 0.82% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Black Stone Minerals Price Performance

Black Stone Minerals stock traded down $0.12 during midday trading on Monday, hitting $12.08. 397,417 shares of the company's stock were exchanged, compared to its average volume of 448,110. Black Stone Minerals, L.P. has a 52-week low of $11.96 and a 52-week high of $15.66. The stock has a 50-day moving average price of $12.98 and a two-hundred day moving average price of $13.96. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.22 and a current ratio of 3.22. The company has a market cap of $2.55 billion, a P/E ratio of 10.41 and a beta of 0.28.

Black Stone Minerals (NYSE:BSM - Get Free Report) last announced 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 firm had revenue of $159.49 million during the quarter, compared to analyst estimates of $112.19 million. On average, equities research analysts forecast that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, August 7th will be paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 9.9%. Black Stone Minerals's payout ratio is 103.45%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Piper Sandler reduced their target price on shares of Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Wall Street Zen cut Black Stone Minerals from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Doliver Advisors LP grew its position in shares of Black Stone Minerals by 2.6% in the 1st quarter. Doliver Advisors LP now owns 31,734 shares of the oil and gas producer's stock worth $485,000 after buying an additional 791 shares during the period. Vident Advisory LLC grew its position in shares of Black Stone Minerals by 2.7% in the 4th quarter. Vident Advisory LLC now owns 31,738 shares of the oil and gas producer's stock worth $463,000 after buying an additional 846 shares during the period. Moors & Cabot Inc. grew its position in shares of Black Stone Minerals by 1.4% in the 2nd quarter. Moors & Cabot Inc. now owns 63,000 shares of the oil and gas producer's stock worth $824,000 after buying an additional 900 shares during the period. MAS Advisors LLC grew its position in shares of Black Stone Minerals by 4.1% in the 2nd quarter. MAS Advisors LLC now owns 26,176 shares of the oil and gas producer's stock worth $342,000 after buying an additional 1,041 shares during the period. Finally, Belpointe Asset Management LLC grew its position in shares of Black Stone Minerals by 8.0% in the 2nd quarter. Belpointe Asset Management LLC now owns 14,975 shares of the oil and gas producer's stock worth $196,000 after buying an additional 1,112 shares during the period. 14.49% of the stock is owned by hedge funds and other institutional investors.

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.

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