Thomas L. Carter, Jr. Acquires 13,527 Shares of Black Stone Minerals (NYSE:BSM) Stock

Key Points

• Thomas Carter Jr., CEO of Black Stone Minerals, purchased 13,527 shares at an average price of $11.90 each, totaling $160,971.30, increasing his ownership to approximately 3.49 million shares.
• Black Stone Minerals reported a strong quarterly EPS of $0.53, significantly exceeding the consensus estimate of $0.30, with revenue reaching $159.49 million.
• Recently, the company declared a quarterly dividend of $0.30 per share, equating to an annual dividend yield of 9.7%, though its payout ratio stands at a concerning 103.45%.

Black Stone Minerals, L.P. (NYSE:BSM - Get Free Report) CEO Thomas L. Carter, Jr. bought 13,527 shares of the firm's stock in a transaction on Monday, September 8th. The stock was acquired at an average price of $11.90 per share, for a total transaction of $160,971.30. Following the transaction, the chief executive officer owned 3,485,558 shares of the company's stock, valued at approximately $41,478,140.20. The trade was a 0.39% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Black Stone Minerals Price Performance

Black Stone Minerals stock traded up $0.12 during midday trading on Monday, reaching $12.65. The company's stock had a trading volume of 699,299 shares, compared to its average volume of 502,650. Black Stone Minerals, L.P. has a 52 week low of $11.78 and a 52 week high of $15.66. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $12.42 and a 200-day moving average price of $13.49. The stock has a market cap of $2.68 billion, a PE ratio of 10.90 and a beta of 0.29.

Black Stone Minerals (NYSE:BSM - Get Free Report) last released its earnings results on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $159.49 million for the quarter, compared to analysts' expectations of $112.19 million. On average, sell-side analysts predict 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 $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 9.5%. The ex-dividend date was Thursday, August 7th. Black Stone Minerals's payout ratio is currently 103.45%.

Wall Street Analyst Weigh In

Separately, Piper Sandler reduced their price target on Black Stone Minerals from $14.00 to $13.00 and set a "neutral" rating on the stock in a report on Thursday, August 14th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Black Stone Minerals presently has an average rating of "Hold" and a consensus target price of $13.00.

Hedge Funds Weigh In On Black Stone Minerals

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC acquired a new position in shares of Black Stone Minerals in the second quarter worth approximately $175,721,000. Bank of America Corp DE lifted its stake in shares of Black Stone Minerals by 0.7% in the second quarter. Bank of America Corp DE now owns 2,543,814 shares of the oil and gas producer's stock worth $33,273,000 after acquiring an additional 17,556 shares during the period. Penn Davis Mcfarland Inc. lifted its stake in shares of Black Stone Minerals by 16.3% in the first quarter. Penn Davis Mcfarland Inc. now owns 1,861,741 shares of the oil and gas producer's stock worth $28,429,000 after acquiring an additional 260,559 shares during the period. Investment Management Associates Inc. ADV lifted its stake in shares of Black Stone Minerals by 2.8% in the second quarter. Investment Management Associates Inc. ADV now owns 1,577,887 shares of the oil and gas producer's stock worth $20,639,000 after acquiring an additional 42,553 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Black Stone Minerals by 5.5% in the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 963,313 shares of the oil and gas producer's stock worth $12,600,000 after acquiring an additional 49,818 shares during the period. 14.49% of the stock is owned by institutional investors and hedge funds.

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.