Insider Selling: Black Stone Minerals LP (BSM) SVP Sells $250,163.40 in Stock

Black Stone Minerals LP (NYSE:BSM) SVP Luke Stevens Putman sold 14,230 shares of Black Stone Minerals stock in a transaction dated Tuesday, October 16th. The stock was sold at an average price of $17.58, for a total transaction of $250,163.40. Following the transaction, the senior vice president now directly owns 287,464 shares in the company, valued at $5,053,617.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of BSM opened at $17.35 on Friday. Black Stone Minerals LP has a 1-year low of $16.36 and a 1-year high of $19.29. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of 24.69 and a beta of 0.38. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 0.55.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, August 6th. The oil and gas producer reported $0.17 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.08). Black Stone Minerals had a net margin of 17.79% and a return on equity of 9.32%. The company had revenue of $109.31 million for the quarter, compared to analyst estimates of $122.98 million. As a group, equities research analysts predict that Black Stone Minerals LP will post 0.87 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the business. Welch & Forbes LLC increased its position in shares of Black Stone Minerals by 222.2% during the third quarter. Welch & Forbes LLC now owns 50,598 shares of the oil and gas producer’s stock valued at $921,000 after acquiring an additional 34,892 shares during the last quarter. Kempner Capital Management Inc. increased its position in shares of Black Stone Minerals by 78.2% during the third quarter. Kempner Capital Management Inc. now owns 130,109 shares of the oil and gas producer’s stock valued at $2,369,000 after acquiring an additional 57,100 shares during the last quarter. California Public Employees Retirement System acquired a new stake in shares of Black Stone Minerals during the second quarter valued at about $323,000. Tower Research Capital LLC TRC increased its position in shares of Black Stone Minerals by 176.9% during the second quarter. Tower Research Capital LLC TRC now owns 15,791 shares of the oil and gas producer’s stock valued at $292,000 after acquiring an additional 10,089 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of Black Stone Minerals by 36.5% during the second quarter. Raymond James & Associates now owns 84,737 shares of the oil and gas producer’s stock valued at $1,567,000 after acquiring an additional 22,659 shares during the last quarter. Institutional investors and hedge funds own 13.21% of the company’s stock.

BSM has been the topic of a number of analyst reports. Stifel Nicolaus set a $21.00 target price on shares of Black Stone Minerals and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Zacks Investment Research raised shares of Black Stone Minerals from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 19th. Finally, Scotiabank upgraded shares of Black Stone Minerals from a “sector perform” rating to an “outperform” rating in a research report on Monday, June 25th. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $20.00.

About Black Stone Minerals

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 in 64 onshore basins in the continental United States.

Featured Story: Cash Flow Analysis in Stock Selection

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

Receive News & Ratings for Black Stone Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Stone Minerals and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply