Black Stone Minerals (BSM) Reaches New 12-Month Low at $15.93

Black Stone Minerals LP (NYSE:BSM)’s share price hit a new 52-week low on Thursday . The company traded as low as $15.93 and last traded at $16.38, with a volume of 190323 shares traded. The stock had previously closed at $16.49.

Separately, Zacks Investment Research raised shares of Black Stone Minerals from a “strong sell” rating to a “hold” rating and set a $19.00 price target on the stock in a research report on Thursday, October 25th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $19.50.

The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 16.48 and a beta of 0.47. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49.

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 21st. Stockholders of record on Wednesday, November 14th were given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 8.89%. This is a boost from Black Stone Minerals’s previous quarterly dividend of $0.34. The ex-dividend date was Tuesday, November 13th. Black Stone Minerals’s dividend payout ratio (DPR) is currently 146.53%.

In related news, SVP Brock Morris sold 17,400 shares of the firm’s stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $18.58, for a total transaction of $323,292.00. Following the sale, the senior vice president now directly owns 299,990 shares in the company, valued at $5,573,814.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Luke Stevens Putman sold 14,230 shares of the firm’s stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $17.58, for a total transaction of $250,163.40. Following the sale, the senior vice president now owns 287,464 shares in the company, valued at $5,053,617.12. The disclosure for this sale can be found here. Over the last three months, insiders have bought 12,875 shares of company stock worth $216,537. Insiders own 25.10% of the company’s stock.

Large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its holdings in shares of Black Stone Minerals by 176.9% during the second quarter. Tower Research Capital LLC TRC now owns 15,791 shares of the oil and gas producer’s stock worth $292,000 after acquiring an additional 10,089 shares during the period. California Public Employees Retirement System acquired a new stake in shares of Black Stone Minerals during the second quarter worth $323,000. SCP Investment LP acquired a new stake in shares of Black Stone Minerals during the third quarter worth $488,000. Welch & Forbes LLC raised its holdings in shares of Black Stone Minerals by 222.2% during the third quarter. Welch & Forbes LLC now owns 50,598 shares of the oil and gas producer’s stock worth $921,000 after acquiring an additional 34,892 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Black Stone Minerals by 75.0% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 70,000 shares of the oil and gas producer’s stock worth $1,294,000 after acquiring an additional 30,000 shares during the period. Institutional investors and hedge funds own 14.23% of the company’s stock.

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About Black Stone Minerals (NYSE:BSM)

Black Stone Minerals, L.P. owns and manages oil and natural gas mineral interests in the United States. The company owns mineral interests in approximately 16.8 million acres, nonparticipating royalty interests in 1.9 million acres, and overriding royalty interests in 2.1 million acres located in 41 states and in 64 onshore basins in the continental United States.

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