Thomas Carter Jr Acquires 10,536 Shares of Black Stone Minerals (NYSE:BSM) Stock

Key Points

• Thomas Carter Jr., CEO of Black Stone Minerals (NYSE:BSM), acquired 10,536 shares at an average price of $12.32 each, totaling approximately $129,803, which increased his ownership to over 3.49 million shares.
• The company reported $0.53 earnings per share for the last quarter, surpassing analyst expectations of $0.30 by $0.23, with a revenue of $159.49 million.
• Black Stone Minerals announced a quarterly dividend of $0.30 per share, representing a 9.7% yield, although its payout ratio stands at a high 103.45%.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) CEO Thomas Carter, Jr. acquired 10,536 shares of Black Stone Minerals stock in a transaction dated Wednesday, September 10th. The stock was purchased at an average price of $12.32 per share, with a total value of $129,803.52. Following the completion of the purchase, the chief executive officer directly owned 3,497,401 shares of the company's stock, valued at $43,087,980.32. The trade was a 0.30% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Black Stone Minerals Stock Performance

NYSE:BSM traded up $0.22 during trading hours on Wednesday, hitting $12.34. 587,115 shares of the company traded hands, compared to its average volume of 458,622. The stock has a market capitalization of $2.61 billion, a price-to-earnings ratio of 10.63 and a beta of 0.29. Black Stone Minerals, L.P. has a twelve month low of $11.78 and a twelve month high of $15.66. The firm has a 50-day moving average of $12.47 and a 200 day moving average of $13.57. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.12.

Black Stone Minerals (NYSE:BSM - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $112.19 million. On average, analysts forecast that Black Stone Minerals, L.P. will post 1.36 EPS for the current year.

Black Stone Minerals Cuts Dividend

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

Hedge Funds Weigh In On Black Stone Minerals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BSM. Northern Trust Corp bought a new position in Black Stone Minerals during the fourth quarter worth $4,428,000. Cetera Investment Advisers boosted its position in Black Stone Minerals by 70.2% during the fourth quarter. Cetera Investment Advisers now owns 26,021 shares of the oil and gas producer's stock worth $380,000 after purchasing an additional 10,737 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Black Stone Minerals during the fourth quarter worth $411,000. State of Wyoming bought a new position in Black Stone Minerals during the fourth quarter worth $107,000. Finally, Vident Advisory LLC boosted its position in Black Stone Minerals by 2.7% during the fourth quarter. Vident Advisory LLC now owns 31,738 shares of the oil and gas producer's stock worth $463,000 after purchasing an additional 846 shares during the period. 14.49% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Wall Street Zen lowered shares of Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Piper Sandler lowered their target price on shares of Black Stone Minerals from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Black Stone Minerals currently has a consensus rating of "Hold" and an average price target of $13.00.

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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