Luke Stevens Putman Sells 23,170 Shares of Black Stone Minerals LP (BSM) Stock

Black Stone Minerals LP (NYSE:BSM) SVP Luke Stevens Putman sold 23,170 shares of the business’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $18.28, for a total value of $423,547.60. Following the sale, the senior vice president now directly owns 257,141 shares in the company, valued at approximately $4,700,537.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Black Stone Minerals LP (NYSE:BSM) traded up $0.15 during trading on Wednesday, reaching $18.68. 66,950 shares of the company’s stock were exchanged, compared to its average volume of 177,855. The firm has a market cap of $3,710.00 and a price-to-earnings ratio of 28.74. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.98 and a current ratio of 1.98. Black Stone Minerals LP has a 52-week low of $15.12 and a 52-week high of $19.05.

Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, November 6th. The oil and gas producer reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.01. Black Stone Minerals had a net margin of 21.57% and a return on equity of 11.44%. analysts forecast that Black Stone Minerals LP will post 0.77 earnings per share for the current year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC raised its position in shares of Black Stone Minerals by 7.7% during the second quarter. FMR LLC now owns 1,766,800 shares of the oil and gas producer’s stock valued at $27,845,000 after buying an additional 127,052 shares during the last quarter. CI Global Investments Inc. acquired a new position in shares of Black Stone Minerals during the third quarter valued at about $28,340,000. Goldman Sachs Group Inc. raised its position in Black Stone Minerals by 54.8% in the second quarter. Goldman Sachs Group Inc. now owns 1,541,051 shares of the oil and gas producer’s stock worth $24,287,000 after purchasing an additional 545,689 shares in the last quarter. Evergreen Capital Management LLC raised its position in Black Stone Minerals by 10.9% in the third quarter. Evergreen Capital Management LLC now owns 613,870 shares of the oil and gas producer’s stock worth $10,645,000 after purchasing an additional 60,175 shares in the last quarter. Finally, EdgePoint Investment Group Inc. acquired a new position in Black Stone Minerals in the second quarter worth about $3,392,000. 21.98% of the stock is owned by institutional investors and hedge funds.

Several analysts have issued reports on the stock. Zacks Investment Research raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research note on Monday, October 16th. Stifel Nicolaus restated a “buy” rating and set a $18.00 price target on shares of Black Stone Minerals in a report on Friday, September 22nd. Barclays set a $18.00 price target on shares of Black Stone Minerals and gave the company a “buy” rating in a report on Thursday, December 14th. Finally, TheStreet cut shares of Black Stone Minerals from a “b-” rating to a “c” rating in a report on Monday, October 30th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $19.40.

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About Black Stone Minerals

Black Stone Minerals, L.P. is an owner of oil and natural gas mineral interests in the United States. The Company’s principal business is maximizing the value of its existing portfolio of mineral and royalty assets through active management and expanding its asset base through acquisitions of additional mineral and royalty interests.

Insider Buying and Selling by Quarter for Black Stone Minerals (NYSE:BSM)

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