Black Stone Minerals LP (NYSE:BSM) SVP Brock Morris sold 25,000 shares of the stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $17.31, for a total transaction of $432,750.00. Following the completion of the sale, the senior vice president now owns 321,825 shares of the company’s stock, valued at $5,570,790.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Black Stone Minerals LP (NYSE:BSM) traded down $0.25 during trading hours on Wednesday, reaching $17.20. 50,778 shares of the company were exchanged, compared to its average volume of 162,680. Black Stone Minerals LP has a 1 year low of $15.12 and a 1 year high of $19.03. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.51. The stock has a market cap of $1,842.24, a price-to-earnings ratio of 17.37 and a beta of 0.37.
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.3125 per share. The ex-dividend date was Friday, February 16th. This represents a $1.25 annualized dividend and a dividend yield of 7.27%. Black Stone Minerals’s payout ratio is currently 126.26%.
Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of Montreal Can raised its stake in shares of Black Stone Minerals by 6.3% during the 4th quarter. Bank of Montreal Can now owns 90,527 shares of the oil and gas producer’s stock worth $1,624,000 after buying an additional 5,327 shares during the last quarter. Dumac Inc. acquired a new position in shares of Black Stone Minerals during the 4th quarter worth $3,169,000. Evergreen Capital Management LLC raised its stake in shares of Black Stone Minerals by 10.9% during the 3rd quarter. Evergreen Capital Management LLC now owns 613,870 shares of the oil and gas producer’s stock worth $10,645,000 after buying an additional 60,175 shares during the last quarter. Alps Advisors Inc. acquired a new position in Black Stone Minerals in the 3rd quarter valued at about $478,000. Finally, Tower Research Capital LLC TRC acquired a new position in Black Stone Minerals in the 4th quarter valued at about $170,000. Institutional investors own 22.74% of the company’s stock.
A number of equities research analysts recently issued reports on BSM shares. Zacks Investment Research cut shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research report on Monday, January 22nd. Barclays set a $18.00 price target on shares of Black Stone Minerals and gave the stock a “buy” rating in a research report on Thursday, December 14th. Finally, Stifel Nicolaus assumed coverage on shares of Black Stone Minerals in a report on Wednesday, January 17th. They issued a “hold” rating and a $19.00 target price on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $19.00.
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Black Stone Minerals Company Profile
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.
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