Black Stone Minerals, L.P. (NYSE:BSM) SVP Sells $275,014.88 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) SVP Carrie Pearson Clark sold 18,532 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $14.84, for a total transaction of $275,014.88. Following the completion of the sale, the senior vice president now directly owns 116,923 shares in the company, valued at $1,735,137.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Black Stone Minerals Stock Performance

NYSE:BSM opened at $14.81 on Thursday. The firm has a market cap of $3.11 billion, a P/E ratio of 9.61 and a beta of 0.93. Black Stone Minerals, L.P. has a fifty-two week low of $13.94 and a fifty-two week high of $18.55. The firm has a 50-day simple moving average of $15.20 and a two-hundred day simple moving average of $15.61.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). The firm had revenue of $109.62 million for the quarter, compared to analysts’ expectations of $124.24 million. Black Stone Minerals had a net margin of 66.29% and a return on equity of 38.71%. During the same quarter in the previous year, the company earned $0.35 EPS. On average, equities research analysts predict that Black Stone Minerals, L.P. will post 1.36 EPS for the current year.

Black Stone Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Friday, August 9th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 10.13%. The ex-dividend date of this dividend was Friday, August 9th. Black Stone Minerals’s dividend payout ratio is currently 97.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Piper Sandler cut their price objective on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. StockNews.com upgraded Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Finally, KeyCorp began coverage on Black Stone Minerals in a research note on Thursday, June 27th. They set a “sector weight” rating for the company. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Black Stone Minerals has an average rating of “Hold” and an average price target of $17.50.

Institutional Investors Weigh In On Black Stone Minerals

Several institutional investors have recently modified their holdings of the business. Nomura Holdings Inc. bought a new position in Black Stone Minerals during the 4th quarter valued at about $5,635,000. Investment Management Associates Inc. ADV lifted its position in Black Stone Minerals by 18.3% during the fourth quarter. Investment Management Associates Inc. ADV now owns 1,221,389 shares of the oil and gas producer’s stock valued at $19,493,000 after purchasing an additional 188,975 shares during the period. Prevail Innovative Wealth Advisors LLC purchased a new stake in Black Stone Minerals in the first quarter worth approximately $2,560,000. Magnolia Capital Advisors LLC bought a new stake in Black Stone Minerals in the 2nd quarter worth approximately $2,480,000. Finally, ING Groep NV raised its stake in Black Stone Minerals by 37.9% during the 4th quarter. ING Groep NV now owns 530,500 shares of the oil and gas producer’s stock valued at $8,467,000 after buying an additional 145,700 shares during the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.

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.