Thomas Carter Jr Purchases 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 Carter, Jr. bought 13,527 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were purchased at an average cost of $11.90 per share, for a total transaction of $160,971.30. Following the completion of the acquisition, the chief executive officer owned 3,485,558 shares of the company's stock, valued at $41,478,140.20. This trade represents a 0.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Black Stone Minerals Stock Up 1.8%

NYSE BSM traded up $0.22 during trading on Wednesday, reaching $12.34. 587,115 shares of the company's stock were exchanged, compared to its average volume of 458,622. The firm has a market capitalization of $2.61 billion, a PE ratio of 10.63 and a beta of 0.29. 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, L.P. has a fifty-two week low of $11.78 and a fifty-two week high of $15.66. The company's fifty day simple moving average is $12.47 and its 200-day simple moving average is $13.57.

Black Stone Minerals (NYSE:BSM - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.53 EPS for the quarter, topping the consensus estimate of $0.30 by $0.23. The company had revenue of $159.49 million for the quarter, compared to the consensus estimate of $112.19 million. Black Stone Minerals had a return on equity of 39.67% and a net margin of 61.21%. 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 declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 9.7%. The ex-dividend date was Thursday, August 7th. Black Stone Minerals's dividend payout ratio is 103.45%.

Institutional Trading of Black Stone Minerals

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

Analyst Ratings Changes

A number of research firms have commented on BSM. Wall Street Zen lowered Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Piper Sandler cut their price objective 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 equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock 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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