Thomas L. Carter, Jr. Buys 25,000 Shares of Black Stone Minerals, L.P. (NYSE:BSM) Stock

Black Stone Minerals, L.P. (NYSE:BSMGet Rating) CEO Thomas L. Carter, Jr. purchased 25,000 shares of the firm’s stock in a transaction on Wednesday, September 14th. The stock was bought at an average cost of $16.39 per share, with a total value of $409,750.00. Following the completion of the purchase, the chief executive officer now owns 2,273,012 shares of the company’s stock, valued at approximately $37,254,666.68. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Black Stone Minerals Stock Down 1.1 %

Black Stone Minerals stock opened at $16.11 on Friday. Black Stone Minerals, L.P. has a fifty-two week low of $9.70 and a fifty-two week high of $17.36. The stock has a market cap of $3.61 billion, a PE ratio of 13.65 and a beta of 1.07. The firm’s 50-day simple moving average is $15.19 and its 200 day simple moving average is $14.70. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.25 and a current ratio of 1.25.

Black Stone Minerals (NYSE:BSMGet Rating) last released its quarterly earnings results on Monday, August 1st. The oil and gas producer reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. Black Stone Minerals had a net margin of 60.34% and a return on equity of 41.83%. The business had revenue of $180.37 million for the quarter, compared to analysts’ expectations of $156.08 million. During the same period in the previous year, the company earned $0.25 earnings per share. Research analysts predict that Black Stone Minerals, L.P. will post 1.65 EPS for the current fiscal year.

Black Stone Minerals Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 19th. Shareholders of record on Friday, August 12th were paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a yield of 10.43%. This is a boost from Black Stone Minerals’s previous quarterly dividend of $0.40. The ex-dividend date was Thursday, August 11th. Black Stone Minerals’s payout ratio is presently 142.37%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. TheStreet upgraded shares of Black Stone Minerals from a “c+” rating to a “b” rating in a report on Friday, September 2nd. Wells Fargo & Company lifted their price objective on shares of Black Stone Minerals from $18.00 to $19.00 and gave the company an “overweight” rating in a report on Monday, May 23rd. Finally, StockNews.com upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Saturday, August 6th. One analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $19.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CI Investments Inc. purchased a new position in Black Stone Minerals in the first quarter valued at about $40,000. CoreCap Advisors LLC purchased a new position in Black Stone Minerals in the second quarter valued at about $49,000. Chilton Capital Management LLC purchased a new position in Black Stone Minerals in the fourth quarter valued at about $71,000. Covestor Ltd purchased a new position in Black Stone Minerals in the first quarter valued at about $77,000. Finally, Guardian Wealth Management Inc. purchased a new position in Black Stone Minerals in the fourth quarter valued at about $102,000. 15.06% of the stock is currently owned by hedge funds and other institutional investors.

About Black Stone Minerals

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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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