Black Stone Minerals (NYSE:BSM) Shares Gap Up to $15.92

Black Stone Minerals, L.P. (NYSE:BSMGet Rating)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $15.92, but opened at $16.30. Black Stone Minerals shares last traded at $16.05, with a volume of 1,934 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have commented on BSM shares. StockNews.com upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Saturday, August 6th. TheStreet upgraded shares of Black Stone Minerals from a “c+” rating to a “b” rating in a research note on Friday, September 2nd. Finally, KeyCorp started coverage on shares of Black Stone Minerals in a research note on Monday. They issued an “overweight” rating and a $22.00 price target on the stock. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Black Stone Minerals currently has a consensus rating of “Buy” and a consensus target price of $19.75.

Black Stone Minerals Trading Down 1.8 %

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $3.55 billion, a PE ratio of 13.42 and a beta of 1.07. The business’s 50-day moving average price is $15.37 and its 200-day moving average price is $14.80.

Black Stone Minerals (NYSE:BSMGet Rating) last announced its earnings results on Monday, August 1st. The oil and gas producer reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.03. The business had revenue of $180.37 million for the quarter, compared to analyst estimates of $156.08 million. Black Stone Minerals had a net margin of 60.34% and a return on equity of 41.83%. During the same period last year, the firm posted $0.25 earnings per share. As a group, analysts expect that Black Stone Minerals, L.P. will post 1.65 earnings per share for the current fiscal year.

Black Stone Minerals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Friday, August 12th were given a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 10.61%. This is a positive change from Black Stone Minerals’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, August 11th. Black Stone Minerals’s dividend payout ratio (DPR) is 142.37%.

Insider Activity at Black Stone Minerals

In other news, CEO Thomas L. Carter, Jr. acquired 25,000 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were purchased at an average cost of $16.27 per share, for a total transaction of $406,750.00. Following the transaction, the chief executive officer now directly owns 2,223,012 shares in the company, valued at approximately $36,168,405.24. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Thomas L. Carter, Jr. acquired 20,000 shares of the stock in a transaction that occurred on Thursday, August 4th. The shares were purchased at an average cost of $14.90 per share, for a total transaction of $298,000.00. Following the transaction, the chief executive officer now directly owns 2,168,012 shares in the company, valued at approximately $32,303,378.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas L. Carter, Jr. bought 25,000 shares of Black Stone Minerals stock in a transaction on Monday, September 12th. The stock was acquired at an average cost of $16.27 per share, with a total value of $406,750.00. Following the acquisition, the chief executive officer now owns 2,223,012 shares of the company’s stock, valued at approximately $36,168,405.24. The disclosure for this purchase can be found here. Insiders have bought a total of 70,000 shares of company stock worth $1,114,500 in the last three months. Insiders own 20.50% of the company’s stock.

Institutional Investors Weigh In On Black Stone Minerals

A number of hedge funds and other institutional investors have recently bought and sold shares of BSM. BNP Paribas Arbitrage SA acquired a new stake in Black Stone Minerals in the fourth quarter valued at $1,221,000. Bank of Montreal Can lifted its holdings in Black Stone Minerals by 69.0% in the fourth quarter. Bank of Montreal Can now owns 650,800 shares of the oil and gas producer’s stock valued at $6,833,000 after acquiring an additional 265,800 shares during the period. Blair William & Co. IL lifted its holdings in Black Stone Minerals by 13.4% in the fourth quarter. Blair William & Co. IL now owns 21,133 shares of the oil and gas producer’s stock valued at $218,000 after acquiring an additional 2,500 shares during the period. Mudita Advisors LLP acquired a new stake in Black Stone Minerals in the fourth quarter valued at $10,365,000. Finally, Chilton Capital Management LLC acquired a new stake in Black Stone Minerals in the fourth quarter valued at $71,000. Institutional investors and hedge funds own 15.06% of the company’s stock.

Black Stone Minerals Company Profile

(Get Rating)

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 1.7 million gross acres located in 41 states in the United States.

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