Black Stone Minerals (NYSE:BSM) Shares Gap Down to $15.72

Shares of Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $15.72, but opened at $15.14. Black Stone Minerals shares last traded at $15.40, with a volume of 300,403 shares trading hands.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on BSM. Piper Sandler increased their price objective on Black Stone Minerals from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Thursday, March 7th. Stifel Nicolaus decreased their price objective on Black Stone Minerals from $21.00 to $20.00 and set a "buy" rating for the company in a report on Tuesday, January 23rd.

Black Stone Minerals Stock Down 2.3 %

The company has a fifty day moving average of $15.71 and a two-hundred day moving average of $16.49. The stock has a market capitalization of $3.23 billion, a price-to-earnings ratio of 8.21 and a beta of 0.92.

Black Stone Minerals (NYSE:BSM - Get Free Report) last issued its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.15. Black Stone Minerals had a return on equity of 42.38% and a net margin of 70.46%. The firm had revenue of $190.84 million during the quarter, compared to the consensus estimate of $142.67 million. During the same period last year, the company earned $0.71 earnings per share. Equities analysts anticipate that Black Stone Minerals, L.P. will post 1.42 earnings per share for the current fiscal year.

Black Stone Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 16th were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 12.37%. The ex-dividend date was Thursday, February 15th. Black Stone Minerals's dividend payout ratio is presently 101.60%.

Insider Buying and Selling at Black Stone Minerals

In other Black Stone Minerals news, Director D Mark Dewalch bought 3,250 shares of Black Stone Minerals stock in a transaction on Monday, February 26th. The stock was bought at an average price of $15.47 per share, with a total value of $50,277.50. Following the completion of the acquisition, the director now owns 320,436 shares in the company, valued at $4,957,144.92. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BSM. Cadence Bank grew its holdings in Black Stone Minerals by 2.8% in the 3rd quarter. Cadence Bank now owns 24,896 shares of the oil and gas producer's stock valued at $429,000 after buying an additional 670 shares during the period. Ronald Blue Trust Inc. grew its holdings in Black Stone Minerals by 3.0% in the 3rd quarter. Ronald Blue Trust Inc. now owns 26,628 shares of the oil and gas producer's stock valued at $425,000 after buying an additional 767 shares during the period. Harbour Investments Inc. grew its holdings in Black Stone Minerals by 21.4% in the 2nd quarter. Harbour Investments Inc. now owns 4,372 shares of the oil and gas producer's stock valued at $70,000 after buying an additional 772 shares during the period. BCS Wealth Management grew its holdings in Black Stone Minerals by 7.3% in the 4th quarter. BCS Wealth Management now owns 11,643 shares of the oil and gas producer's stock valued at $186,000 after buying an additional 792 shares during the period. Finally, Linscomb & Williams Inc. grew its holdings in Black Stone Minerals by 7.3% in the 1st quarter. Linscomb & Williams Inc. now owns 11,801 shares of the oil and gas producer's stock valued at $159,000 after buying an additional 801 shares during the period. Hedge funds and other institutional investors own 14.49% of the company's stock.

Black Stone Minerals Company Profile

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.