Black Stone Minerals, L.P. (NYSE:BSM – Get Free Report) Director Ashley Longmaid sold 11,128 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $13.45, for a total transaction of $149,671.60. Following the transaction, the director directly owned 137,335 shares in the company, valued at $1,847,155.75. This trade represents a 7.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Black Stone Minerals Trading Up 0.1%
NYSE BSM opened at $13.54 on Thursday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. The company has a market capitalization of $2.88 billion, a price-to-earnings ratio of 10.66 and a beta of 0.07. The company’s 50-day simple moving average is $14.52 and its two-hundred day simple moving average is $14.26. Black Stone Minerals, L.P. has a one year low of $11.78 and a one year high of $15.49.
Black Stone Minerals (NYSE:BSM – Get Free Report) last posted its earnings results on Monday, May 4th. The oil and gas producer reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.19). The business had revenue of $59.36 million for the quarter, compared to analysts’ expectations of $107.38 million. Black Stone Minerals had a net margin of 61.67% and a return on equity of 42.40%. Equities analysts forecast that Black Stone Minerals, L.P. will post 0.93 EPS for the current fiscal year.
Black Stone Minerals Dividend Announcement
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on BSM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Black Stone Minerals in a research report on Friday, April 24th. Zacks Research downgraded shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Finally, Piper Sandler lifted their price objective on shares of Black Stone Minerals from $13.00 to $14.00 and gave the stock a “neutral” rating in a research report on Thursday, March 5th. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Black Stone Minerals currently has an average rating of “Reduce” and an average target price of $14.00.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of BSM. Northwestern University acquired a new stake in Black Stone Minerals in the 4th quarter worth approximately $15,671,000. Citigroup Inc. boosted its stake in Black Stone Minerals by 36.2% in the 3rd quarter. Citigroup Inc. now owns 347,200 shares of the oil and gas producer’s stock worth $4,562,000 after purchasing an additional 92,193 shares in the last quarter. Alps Advisors Inc. acquired a new stake in Black Stone Minerals in the 3rd quarter worth approximately $478,000. Americana Partners LLC acquired a new stake in Black Stone Minerals in the 3rd quarter worth approximately $532,000. Finally, Investment Management Associates Inc. ADV boosted its stake in Black Stone Minerals by 22.6% in the 3rd quarter. Investment Management Associates Inc. ADV now owns 1,934,739 shares of the oil and gas producer’s stock worth $25,422,000 after purchasing an additional 356,852 shares in the last quarter. Hedge funds and other institutional investors own 14.49% of the company’s stock.
Black Stone Minerals Company Profile
Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.
Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.
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