Insider Selling: Black Stone Minerals (NYSE:BSM) SVP Sells $461,709.00 in Stock

Black Stone Minerals, L.P. (NYSE:BSM) SVP Luke Stevens Putman sold 30,276 shares of the stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $15.25, for a total transaction of $461,709.00. Following the sale, the senior vice president owned 761,417 shares of the company’s stock, valued at $11,611,609.25. This trade represents a 3.82% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Black Stone Minerals Price Performance

NYSE:BSM opened at $15.22 on Monday. The firm has a market cap of $3.23 billion, a PE ratio of 11.89 and a beta of 0.17. Black Stone Minerals, L.P. has a 12 month low of $11.78 and a 12 month high of $15.52. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.19. The company’s 50-day moving average price is $14.56 and its two-hundred day moving average price is $13.69.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, February 23rd. The oil and gas producer reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.04. Black Stone Minerals had a net margin of 62.26% and a return on equity of 43.31%. The company had revenue of $118.70 million during the quarter, compared to analyst estimates of $98.08 million. On average, equities analysts anticipate that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 18th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend was Wednesday, February 18th. Black Stone Minerals’s dividend payout ratio (DPR) is currently 93.75%.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Zacks Research lowered Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, February 4th. Weiss Ratings restated a “hold (c-)” rating on shares of Black Stone Minerals in a research note on Monday, December 29th. Finally, Piper Sandler lifted their price target on Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a report on Thursday. Five research analysts have rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $14.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Grandfield & Dodd LLC bought a new stake in Black Stone Minerals in the second quarter valued at about $397,000. Americana Partners LLC bought a new position in Black Stone Minerals during the third quarter worth about $532,000. Alps Advisors Inc. acquired a new position in shares of Black Stone Minerals during the 3rd quarter worth about $478,000. Global Retirement Partners LLC acquired a new position in shares of Black Stone Minerals during the 2nd quarter worth about $385,000. Finally, Citigroup Inc. increased its stake in shares of 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 valued at $4,562,000 after acquiring an additional 92,193 shares during the last quarter. 14.49% of the stock is currently owned by institutional investors.

About Black Stone Minerals

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.