James Whitehead, a director at Black Stone Minerals, sold approximately $28.1 million in common units on August 6. The transaction involved over 2.1 million units at a price of $13.21 each. Entities associated with Whitehead executed the sale as part of a scheduled plan to divest positions by the end of 2026 for estate planning and diversification.
The insider activity follows second-quarter earnings and revenue that significantly exceeded Wall Street expectations. Black Stone Minerals increased its quarterly distribution to $0.32 per unit after the strong performance. Despite the sale, the stock recently traded at $14.38, near its 52-week high.