Insider Selling: Black Stone Minerals, L.P. (NYSE:BSM) SVP Sells 18,532 Shares of Stock

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

Black Stone Minerals Price Performance

Shares of NYSE:BSM opened at $14.82 on Tuesday. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 9.62 and a beta of 0.93. The firm’s 50 day simple moving average is $15.24 and its 200 day simple moving average is $15.63. Black Stone Minerals, L.P. has a fifty-two week low of $13.94 and a fifty-two week high of $18.55.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). The firm had revenue of $109.62 million during the quarter, compared to analyst estimates 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 prior year, the business earned $0.35 earnings per share. Equities research analysts expect that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were issued a dividend of $0.375 per share. The ex-dividend date was Friday, August 9th. This represents a $1.50 annualized dividend and a yield of 10.12%. Black Stone Minerals’s dividend payout ratio (DPR) is currently 97.40%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on BSM shares. StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. KeyCorp started coverage on shares of Black Stone Minerals in a research note on Thursday, June 27th. They issued a “sector weight” rating on the stock. Finally, Piper Sandler reduced their target price on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Black Stone Minerals presently has an average rating of “Hold” and a consensus target price of $17.50.

Institutional Trading of Black Stone Minerals

Several hedge funds have recently bought and sold shares of BSM. Apollon Wealth Management LLC raised its holdings in Black Stone Minerals by 20.5% during the 4th quarter. Apollon Wealth Management LLC now owns 18,873 shares of the oil and gas producer’s stock worth $301,000 after buying an additional 3,205 shares during the period. Beacon Pointe Advisors LLC raised its holdings in Black Stone Minerals by 36.1% during the 4th quarter. Beacon Pointe Advisors LLC now owns 58,669 shares of the oil and gas producer’s stock worth $936,000 after buying an additional 15,569 shares during the period. Texas Capital Bank Wealth Management Services Inc acquired a new stake in Black Stone Minerals during the 4th quarter worth approximately $319,000. Anthracite Investment Company Inc. acquired a new stake in Black Stone Minerals during the 4th quarter worth approximately $1,725,000. Finally, Brown Advisory Inc. raised its holdings in Black Stone Minerals by 1.7% during the 4th quarter. Brown Advisory Inc. now owns 989,122 shares of the oil and gas producer’s stock worth $15,786,000 after buying an additional 16,200 shares during the period. 14.49% of the stock is currently 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.