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BSM Trading 5.0% Below Director's Recent Buy Price
By Energy Stock Channel Staff, Thursday, December 6, 10:41 AM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on November 16, Black Stone Minerals LP's Director, D. Mark Dewalch, invested $20,044.09 into 1,175 shares of BSM, for a cost per share of $17.06. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Thursday, bargain hunters could buy shares of Black Stone Minerals LP (NYSE:BSM) and achieve a cost basis 5.0% cheaper than Dewalch, with shares changing hands as low as $16.20 per share. Black Stone Minerals LP shares are currently trading down about 1.5% on the day. The chart below shows the one year performance of BSM shares, versus its 200 day moving average:
Looking at the chart above, BSM's low point in its 52 week range is $16.20 per share, with $19.29 as the 52 week high point — that compares with a last trade of $16.24. By comparison, below is a table showing the prices at which BSM insider buying was recorded over the last six months:
||William N. Mathis
||D. Mark Dewalch
The current annualized dividend paid by Black Stone Minerals LP is $1.48/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 11/13/2018. Below is a long-term dividend history chart for BSM, which can be of good help in judging whether the most recent dividend with approx. 9.0% annualized yield is likely to continue.
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