Black Stone Minerals, L.P. (NYSE:BSM – Get Rating) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 1,550,000 shares, a drop of 16.2% from the November 30th total of 1,850,000 shares. Currently, 0.9% of the company’s shares are sold short. Based on an average daily volume of 771,400 shares, the days-to-cover ratio is presently 2.0 days.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on the stock. StockNews.com initiated coverage on shares of Black Stone Minerals in a research report on Wednesday, October 12th. They set a “buy” rating on the stock. KeyCorp dropped their price objective on shares of Black Stone Minerals from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Thursday, December 8th. Finally, Piper Sandler boosted their price objective on shares of Black Stone Minerals from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Thursday, November 17th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $20.25.
Insider Buying and Selling
In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. bought 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 6th. The shares were bought at an average price of $17.31 per share, for a total transaction of $432,750.00. Following the transaction, the chief executive officer now directly owns 2,372,643 shares in the company, valued at $41,070,450.33. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Black Stone Minerals news, CAO Dawn Smajstrla sold 5,300 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $19.41, for a total value of $102,873.00. Following the transaction, the chief accounting officer now owns 78,348 shares in the company, valued at $1,520,734.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas L. Carter, Jr. acquired 25,000 shares of the firm’s stock in a transaction on Tuesday, December 6th. The stock was purchased at an average price of $17.31 per share, for a total transaction of $432,750.00. Following the transaction, the chief executive officer now directly owns 2,372,643 shares of the company’s stock, valued at approximately $41,070,450.33. The disclosure for this purchase can be found here. 20.50% of the stock is owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CI Investments Inc. bought a new position in Black Stone Minerals during the first quarter valued at approximately $40,000. CoreCap Advisors LLC purchased a new stake in Black Stone Minerals during the second quarter valued at approximately $49,000. Clearstead Advisors LLC purchased a new stake in Black Stone Minerals during the third quarter valued at approximately $51,000. Covestor Ltd purchased a new stake in Black Stone Minerals during the first quarter valued at approximately $77,000. Finally, Chilton Capital Management LLC purchased a new stake in Black Stone Minerals during the second quarter valued at approximately $95,000. Institutional investors own 16.46% of the company’s stock.
Black Stone Minerals Stock Up 2.0 %
Shares of NYSE BSM traded up $0.33 during midday trading on Monday, hitting $16.87. The stock had a trading volume of 66,898 shares, compared to its average volume of 693,832. The business’s 50 day moving average is $17.84 and its 200-day moving average is $16.23. The company has a market cap of $3.53 billion, a P/E ratio of 8.97 and a beta of 1.07. Black Stone Minerals has a 52 week low of $10.31 and a 52 week high of $20.24. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.07.
Black Stone Minerals Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 17th. Investors of record on Thursday, November 10th were given a dividend of $0.45 per share. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, November 9th. This represents a $1.80 dividend on an annualized basis and a yield of 10.67%. Black Stone Minerals’s dividend payout ratio is 95.75%.
Black Stone Minerals Company Profile
Black Stone Minerals, L.P., together with its subsidiaries, owns and manages oil and natural gas mineral interests. It owns mineral interests in approximately 16.8 million gross acres, nonparticipating royalty interests in 1.8 million gross acres, and overriding royalty interests in 1.7 million gross acres located in 41 states in the United States.