Insider Selling: Black Stone Minerals (NYSE:BSM) SVP Sells 29,386 Shares of Stock

Key Points

• Insider sale: SVP Luke Stevens Putman sold 29,386 shares on May 5 at an average price of $13.75 under a pre-arranged Rule 10b5-1 plan, netting about $404,058 and reducing his stake by 4.01% to 702,645 shares.
• Earnings miss: Black Stone Minerals reported quarterly EPS of $0.03 and revenue of $59.36M, well below analyst expectations of $0.22 EPS and $107.38M revenue, despite a reported net margin of 61.67% and ROE of 41.82%.
• Dividend yield: The company declared a quarterly dividend of $0.30 per share (annualized $1.20), implying an 8.8% yield with an ex-dividend date of May 8 and a payout ratio of 93.75%.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) SVP Luke Stevens Putman sold 29,386 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $13.75, for a total transaction of $404,057.50. Following the completion of the sale, the senior vice president owned 702,645 shares of the company's stock, valued at approximately $9,661,368.75. This trade represents a 4.01% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Luke Stevens Putman also recently made the following trade(s):

• On Monday, April 6th, Luke Stevens Putman sold 29,386 shares of Black Stone Minerals stock. The shares were sold at an average price of $14.45, for a total transaction of $424,627.70.
• On Thursday, March 5th, Luke Stevens Putman sold 30,276 shares of Black Stone Minerals stock. The shares were sold at an average price of $15.25, for a total transaction of $461,709.00.

Black Stone Minerals Trading Down 0.9%

Shares of NYSE:BSM traded down $0.12 during mid-day trading on Wednesday, hitting $13.57. The stock had a trading volume of 558,678 shares, compared to its average volume of 412,575. The company has a debt-to-equity ratio of 0.19, a quick ratio of 3.88 and a current ratio of 3.88. The company has a market cap of $2.88 billion, a PE ratio of 10.68 and a beta of 0.07. Black Stone Minerals, L.P. has a 12-month low of $11.78 and a 12-month high of $15.49. The company's 50 day moving average is $14.71 and its 200-day moving average is $14.23.

Black Stone Minerals (NYSE:BSM - Get Free Report) last issued its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.03 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.19). The firm had revenue of $59.36 million during the quarter, compared to analysts' expectations of $107.38 million. Black Stone Minerals had a net margin of 61.67% and a return on equity of 41.82%. On average, sell-side analysts predict that Black Stone Minerals, L.P. will post 0.93 EPS for the current year.

Black Stone Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 15th. Stockholders of record on Friday, May 8th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 8.8%. The ex-dividend date is Friday, May 8th. Black Stone Minerals's payout ratio is currently 93.75%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Doliver Advisors LP increased its stake in shares of 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 worth $465,000 after purchasing an additional 850 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of 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 worth $32,000 after purchasing an additional 900 shares during the last quarter. MAS Advisors LLC increased its stake in shares of Black Stone Minerals by 3.5% during the 3rd quarter. MAS Advisors LLC now owns 27,089 shares of the oil and gas producer's stock worth $356,000 after purchasing an additional 913 shares during the last quarter. Avidian Wealth Enterprises LLC increased its stake in shares of Black Stone Minerals by 3.4% during the 3rd quarter. Avidian Wealth Enterprises LLC now owns 30,000 shares of the oil and gas producer's stock worth $394,000 after purchasing an additional 1,000 shares during the last quarter. Finally, WMG Financial Advisors LLC increased its stake in shares of 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 worth $223,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 14.49% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Piper Sandler upped their price target on shares of Black Stone Minerals from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, March 5th. Finally, Zacks Research downgraded shares of Black Stone Minerals from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 21st. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Black Stone Minerals has a consensus rating of "Reduce" and a consensus price target of $14.00.

Black Stone Minerals Company Profile

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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