Black Stone Minerals, L.P. (NYSE:BSM – Get Free Report) Chairman Thomas Carter, Jr. acquired 19,154 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $13.48 per share, with a total value of $258,195.92. Following the completion of the acquisition, the chairman directly owned 3,681,604 shares of the company’s stock, valued at $49,628,021.92. This trade represents a 0.52% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Black Stone Minerals Trading Up 0.9%
BSM traded up $0.12 during trading on Tuesday, reaching $13.50. 467,656 shares of the stock traded hands, compared to its average volume of 422,681. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $2.87 billion, a PE ratio of 10.63 and a beta of 0.07. The stock’s 50-day moving average is $14.58 and its 200 day moving average is $14.25. Black Stone Minerals, L.P. has a 12 month low of $11.78 and a 12 month high of $15.49.
Black Stone Minerals (NYSE:BSM – Get Free Report) last issued its quarterly 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 firm had revenue of $59.36 million for the quarter, compared to the consensus estimate of $107.38 million. Black Stone Minerals had a net margin of 61.67% and a return on equity of 42.40%. Equities analysts anticipate that Black Stone Minerals, L.P. will post 0.93 earnings per share for the current year.
Black Stone Minerals Announces Dividend
Wall Street Analyst Weigh In
A number of analysts have commented on the stock. Piper Sandler upped their price target on shares of Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a research report on Thursday, March 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Black Stone Minerals in a research report on Friday, April 24th. Finally, Zacks Research cut shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Three research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Black Stone Minerals has a consensus rating of “Reduce” and an average target price of $14.00.
Check Out Our Latest Report on BSM
Hedge Funds Weigh In On Black Stone Minerals
Institutional investors and hedge funds have recently made changes to their positions in the stock. Citigroup Inc. boosted its position in shares of Black Stone Minerals by 36.2% during 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. Northwestern University bought a new position in shares of Black Stone Minerals during the 4th quarter worth about $15,671,000. Alps Advisors Inc. bought a new position in shares of Black Stone Minerals during the 3rd quarter worth about $478,000. Americana Partners LLC bought a new position in shares of Black Stone Minerals during the 3rd quarter worth about $532,000. Finally, Investment Management Associates Inc. ADV boosted its position in shares of Black Stone Minerals by 22.6% during 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. 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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