Black Stone Minerals (NYSE:BSM) Shares Gap Down to $15.72

Shares of Black Stone Minerals, L.P. (NYSE:BSM) gapped down before the market opened on Thursday . The stock had previously closed at $15.72, but opened at $15.14. Black Stone Minerals shares last traded at $15.40, with a volume of 300,403 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on BSM shares. Piper Sandler upped their price target on Black Stone Minerals from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 7th. Stifel Nicolaus lowered their price objective on Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Tuesday, January 23rd.

Black Stone Minerals Stock Up 1.0 %

The stock has a market capitalization of $3.26 billion, a PE ratio of 8.30 and a beta of 0.92. The firm has a 50 day moving average price of $15.71 and a 200 day moving average price of $16.48.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.65 EPS for the quarter, topping the consensus estimate of $0.50 by $0.15. The firm had revenue of $190.84 million during the quarter, compared to the consensus estimate of $142.67 million. Black Stone Minerals had a return on equity of 42.38% and a net margin of 70.46%. During the same period in the prior year, the business posted $0.71 earnings per share. On average, equities analysts forecast that Black Stone Minerals, L.P. will post 1.42 earnings per share for the current fiscal year.

Black Stone Minerals Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a dividend yield of 9.67%. The ex-dividend date of this dividend is Thursday, May 9th. Black Stone Minerals’s dividend payout ratio is presently 101.60%.

Insider Activity

In other Black Stone Minerals news, Director D Mark Dewalch bought 3,250 shares of Black Stone Minerals stock in a transaction dated Monday, February 26th. The stock was bought at an average cost of $15.47 per share, with a total value of $50,277.50. Following the completion of the acquisition, the director now directly owns 320,436 shares in the company, valued at approximately $4,957,144.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 19.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Black Stone Minerals

Several institutional investors and hedge funds have recently bought and sold shares of BSM. Morgan Stanley grew its holdings in Black Stone Minerals by 144.9% during the fourth quarter. Morgan Stanley now owns 4,004,701 shares of the oil and gas producer’s stock valued at $67,559,000 after purchasing an additional 2,369,656 shares during the period. UBS Group AG grew its holdings in Black Stone Minerals by 12,416.2% during the first quarter. UBS Group AG now owns 1,587,809 shares of the oil and gas producer’s stock valued at $21,372,000 after purchasing an additional 1,575,123 shares during the period. JPMorgan Chase & Co. grew its holdings in Black Stone Minerals by 239.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,152,661 shares of the oil and gas producer’s stock valued at $19,445,000 after purchasing an additional 812,840 shares during the period. Epacria Capital Partners LLC bought a new position in Black Stone Minerals during the fourth quarter valued at $12,149,000. Finally, Bank of America Corp DE grew its holdings in Black Stone Minerals by 1,353.9% during the first quarter. Bank of America Corp DE now owns 687,529 shares of the oil and gas producer’s stock valued at $10,787,000 after purchasing an additional 640,241 shares during the period. 14.49% of the stock is owned by institutional investors.

About Black Stone Minerals

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 1.6 million gross acres located in 41 states in the United States.