Black Stone Minerals (NYSE:BSM) Shares Gap Up to $15.92

Black Stone Minerals, L.P. (NYSE:BSMGet Rating)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $15.92, but opened at $16.30. Black Stone Minerals shares last traded at $16.05, with a volume of 1,934 shares.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on BSM shares. KeyCorp started coverage on shares of Black Stone Minerals in a report on Monday. They set an “overweight” rating and a $22.00 target price for the company. TheStreet raised shares of Black Stone Minerals from a “c+” rating to a “b” rating in a report on Friday, September 2nd. Finally, StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Saturday, August 6th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Black Stone Minerals presently has a consensus rating of “Buy” and a consensus target price of $19.75.

Black Stone Minerals Price Performance

The company has a debt-to-equity ratio of 0.12, a current ratio of 1.25 and a quick ratio of 1.25. The stock’s fifty day moving average is $15.37 and its 200-day moving average is $14.80. The stock has a market cap of $3.55 billion, a PE ratio of 13.42 and a beta of 1.07.

Black Stone Minerals (NYSE:BSMGet Rating) last announced its 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. The company had revenue of $180.37 million during the quarter, compared to analyst estimates of $156.08 million. Black Stone Minerals had a net margin of 60.34% and a return on equity of 41.83%. During the same quarter last year, the firm posted $0.25 earnings per share. As a group, equities analysts anticipate that Black Stone Minerals, L.P. will post 1.65 EPS for the current 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 dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 10.61%. The ex-dividend date was Thursday, August 11th. This is a positive change from Black Stone Minerals’s previous quarterly dividend of $0.40. Black Stone Minerals’s dividend payout ratio (DPR) is 142.37%.

Insiders Place Their Bets

In related news, CEO Thomas L. Carter, Jr. bought 20,000 shares of the stock in a transaction on Thursday, August 4th. The stock was bought at an average price of $14.90 per share, with a total value of $298,000.00. Following the completion of the purchase, the chief executive officer now directly owns 2,168,012 shares in the company, valued at approximately $32,303,378.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. purchased 25,000 shares of Black Stone Minerals stock in a transaction dated Wednesday, September 14th. The shares were acquired at an average price of $16.39 per share, with a total value of $409,750.00. Following the completion of the transaction, the chief executive officer now owns 2,273,012 shares of the company’s stock, valued at $37,254,666.68. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas L. Carter, Jr. purchased 20,000 shares of Black Stone Minerals stock in a transaction dated Thursday, August 4th. The shares were acquired at an average cost of $14.90 per share, for a total transaction of $298,000.00. Following the transaction, the chief executive officer now directly owns 2,168,012 shares of the company’s stock, valued at approximately $32,303,378.80. The disclosure for this purchase can be found here. Insiders purchased a total of 70,000 shares of company stock valued at $1,114,500 over the last 90 days. 20.50% of the stock is owned by company insiders.

Institutional Trading of Black Stone Minerals

Several hedge funds have recently made changes to their positions in BSM. BNP Paribas Arbitrage SA acquired a new stake in shares of Black Stone Minerals during the fourth quarter worth about $1,221,000. Bank of Montreal Can raised its holdings in Black Stone Minerals by 69.0% in the fourth quarter. Bank of Montreal Can now owns 650,800 shares of the oil and gas producer’s stock valued at $6,833,000 after acquiring an additional 265,800 shares in the last quarter. Blair William & Co. IL raised its holdings in Black Stone Minerals by 13.4% in the fourth quarter. Blair William & Co. IL now owns 21,133 shares of the oil and gas producer’s stock valued at $218,000 after acquiring an additional 2,500 shares in the last quarter. Mudita Advisors LLP acquired a new stake in Black Stone Minerals in the fourth quarter valued at approximately $10,365,000. Finally, Chilton Capital Management LLC acquired a new stake in Black Stone Minerals in the fourth quarter valued at approximately $71,000. Institutional investors and hedge funds own 15.06% of the company’s stock.

About Black Stone Minerals

(Get Rating)

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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