D Mark Dewalch Purchases 36,363 Shares of Black Stone Minerals (NYSE:BSM) Stock

Black Stone Minerals, L.P. (NYSE:BSM) Director D Mark Dewalch purchased 36,363 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was bought at an average price of $13.62 per share, for a total transaction of $495,264.06. Following the purchase, the director owned 631,248 shares in the company, valued at approximately $8,597,597.76. This represents a 6.11% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

D Mark Dewalch also recently made the following trade(s):

• On Friday, May 29th, D Mark Dewalch bought 36,363 shares of Black Stone Minerals stock. The shares were acquired at an average price of $13.48 per share, for a total transaction of $490,173.24.
• On Thursday, May 28th, D Mark Dewalch bought 37,650 shares of Black Stone Minerals stock. The shares were acquired at an average price of $13.21 per share, for a total transaction of $497,356.50.

Black Stone Minerals Price Performance

Shares of NYSE BSM traded up $0.00 during mid-day trading on Tuesday, hitting $13.61. 346,545 shares of the company’s stock traded hands, compared to its average volume of 411,497. The company has a market capitalization of $2.89 billion, a P/E ratio of 10.72 and a beta of 0.05. Black Stone Minerals, L.P. has a 1 year low of $11.78 and a 1 year high of $15.49. The company’s 50-day moving average is $14.12 and its two-hundred day moving average is $14.31. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.34 and a quick ratio of 2.34.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.03 EPS for the quarter, missing the consensus estimate 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%. On average, equities analysts anticipate that Black Stone Minerals, L.P. will post 0.93 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 8.8%. The ex-dividend date was Friday, May 8th. Black Stone Minerals’s dividend payout ratio is presently 94.49%.

Hedge Funds Weigh In On Black Stone Minerals

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Morgan Stanley boosted its position in Black Stone Minerals by 57.1% during the fourth quarter. Morgan Stanley now owns 7,107,673 shares of the oil and gas producer’s stock worth $94,461,000 after acquiring an additional 2,582,823 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of Black Stone Minerals by 2.2% in the 3rd quarter. Bank of America Corp DE now owns 2,600,182 shares of the oil and gas producer’s stock worth $34,166,000 after acquiring an additional 56,368 shares during the last quarter. Penn Davis Mcfarland Inc. increased its holdings in Black Stone Minerals by 2.5% in the 4th quarter. Penn Davis Mcfarland Inc. now owns 1,967,467 shares of the oil and gas producer’s stock valued at $26,148,000 after purchasing an additional 48,677 shares during the last quarter. Investment Management Associates Inc. ADV increased its holdings in Black Stone Minerals by 22.6% in the 3rd quarter. Investment Management Associates Inc. ADV now owns 1,934,739 shares of the oil and gas producer’s stock valued at $25,422,000 after purchasing an additional 356,852 shares during the last quarter. Finally, Northwestern University acquired a new stake in Black Stone Minerals in the 4th quarter valued at approximately $15,671,000. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have commented on BSM shares. Piper Sandler upped their target price on shares of Black Stone Minerals from $13.00 to $14.00 and gave the stock a “neutral” rating in a research note on Thursday, March 5th. Weiss Ratings restated a “hold (c)” rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Royal Bank Of Canada initiated coverage on shares of Black Stone Minerals in a research report on Friday. They set a “sector perform” rating and a $16.00 target price for the company. Finally, Zacks Research cut shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Four research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Reduce” and an average price target of $15.00.

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.