Black Stone Minerals LP (BSM) SVP Sells $286,960.53 in Stock

Black Stone Minerals LP (NYSE:BSM) SVP Holbrook F. Dorn sold 15,503 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $18.51, for a total transaction of $286,960.53. Following the completion of the sale, the senior vice president now owns 730,274 shares in the company, valued at approximately $13,517,371.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Shares of BSM stock traded down $0.02 during trading hours on Friday, reaching $16.33. 177,708 shares of the stock were exchanged, compared to its average volume of 151,280. Black Stone Minerals LP has a 12-month low of $15.23 and a 12-month high of $19.29. The company has a current ratio of 2.33, a quick ratio of 2.33 and a debt-to-equity ratio of 0.52. The stock has a market cap of $3.35 billion, a PE ratio of 11.26 and a beta of 0.63.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, February 25th. The oil and gas producer reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.44. The firm had revenue of $246.05 million during the quarter, compared to analysts’ expectations of $137.77 million. Black Stone Minerals had a net margin of 36.75% and a return on equity of 25.55%. Sell-side analysts forecast that Black Stone Minerals LP will post 0.86 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 16th were given a $0.37 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $1.48 annualized dividend and a yield of 9.06%. Black Stone Minerals’s dividend payout ratio (DPR) is 102.07%.

A number of institutional investors have recently added to or reduced their stakes in the business. CI Investments Inc. purchased a new stake in Black Stone Minerals in the 4th quarter valued at about $119,987,000. Goldman Sachs Group Inc. raised its holdings in shares of Black Stone Minerals by 17.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,584,378 shares of the oil and gas producer’s stock valued at $27,948,000 after purchasing an additional 236,993 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of Black Stone Minerals by 13.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,135,686 shares of the oil and gas producer’s stock valued at $17,580,000 after purchasing an additional 135,686 shares in the last quarter. Johns Hopkins University bought a new stake in shares of Black Stone Minerals in the 4th quarter valued at about $6,311,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Black Stone Minerals by 0.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 297,384 shares of the oil and gas producer’s stock valued at $5,246,000 after purchasing an additional 835 shares in the last quarter. 15.80% of the stock is owned by institutional investors.

Several brokerages have recently commented on BSM. Royal Bank of Canada began coverage on shares of Black Stone Minerals in a research report on Thursday, April 18th. They set an “outperform” rating and a $23.00 price objective on the stock. Zacks Investment Research cut shares of Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 20th. Finally, Raymond James set a $22.00 price objective on shares of Black Stone Minerals and gave the stock a “buy” rating in a research note on Thursday, March 7th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $21.50.

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Black Stone Minerals Company Profile

Black Stone Minerals, L.P. owns and manages oil and natural gas mineral interests in the United States. The company owns mineral interests in approximately 16.8 million acres, nonparticipating royalty interests in 1.9 million acres, and overriding royalty interests in 2.1 million acres located in 41 states and 64 onshore basins in the continental United States.

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