Black Stone Minerals (NYSE:BSM) CEO Thomas L. Carter, Jr. Buys 10,536 Shares

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 L. Carter, Jr. acquired 10,536 shares of Black Stone Minerals stock in a transaction that occurred on Wednesday, September 10th. The shares were purchased at an average price of $12.32 per share, with a total value of $129,803.52. Following the transaction, the chief executive officer 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Black Stone Minerals Stock Performance

Black Stone Minerals stock traded up $0.12 during mid-day trading on Monday, reaching $12.65. 699,299 shares of the stock traded hands, compared to its average volume of 502,650. The stock has a market capitalization of $2.68 billion, a PE ratio of 10.90 and a beta of 0.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.22 and a quick ratio of 3.22. Black Stone Minerals, L.P. has a 12-month low of $11.78 and a 12-month high of $15.66. The business's 50-day moving average is $12.42 and its 200-day moving average is $13.49.

Black Stone Minerals (NYSE:BSM - Get Free Report) last released 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 return on equity of 39.67% and a net margin of 61.21%.The business had revenue of $159.49 million during the quarter, compared to analyst estimates of $112.19 million. As a group, 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 business also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 9.5%. The ex-dividend date of this dividend was Thursday, August 7th. Black Stone Minerals's payout ratio is currently 103.45%.

Hedge Funds Weigh In On Black Stone Minerals

Hedge funds have recently made changes to their positions in the business. Northern Trust Corp bought a new position in shares of Black Stone Minerals in the fourth quarter worth about $4,428,000. Penn Davis Mcfarland Inc. boosted its stake in Black Stone Minerals by 16.3% during the first quarter. Penn Davis Mcfarland Inc. now owns 1,861,741 shares of the oil and gas producer's stock valued at $28,429,000 after buying an additional 260,559 shares during the last quarter. State of Wyoming boosted its stake in Black Stone Minerals by 370.4% during the first quarter. State of Wyoming now owns 34,491 shares of the oil and gas producer's stock valued at $527,000 after buying an additional 27,158 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Black Stone Minerals during the fourth quarter valued at approximately $411,000. Finally, Alpha Wealth Funds LLC bought a new position in Black Stone Minerals during the fourth quarter valued at approximately $359,000. Institutional investors own 14.49% of the company's stock.

Analyst Ratings Changes

Separately, Piper Sandler cut their price target on Black Stone Minerals from $14.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $13.00.

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.