JFS Wealth Advisors LLC Makes New $494,000 Investment in Black Stone Minerals, L.P. (NYSE:BSM)

JFS Wealth Advisors LLC bought a new stake in Black Stone Minerals, L.P. (NYSE:BSM) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 32,747 shares of the oil and gas producer’s stock, valued at approximately $494,000.

Other hedge funds have also made changes to their positions in the company. Prevail Innovative Wealth Advisors LLC grew its stake in Black Stone Minerals by 25.7% in the 2nd quarter. Prevail Innovative Wealth Advisors LLC now owns 201,336 shares of the oil and gas producer’s stock valued at $3,155,000 after acquiring an additional 41,136 shares during the last quarter. Magnolia Capital Advisors LLC purchased a new position in shares of Black Stone Minerals during the 2nd quarter worth approximately $2,480,000. GraniteShares Advisors LLC raised its position in shares of Black Stone Minerals by 14.2% during the 2nd quarter. GraniteShares Advisors LLC now owns 121,795 shares of the oil and gas producer’s stock worth $1,909,000 after purchasing an additional 15,188 shares during the last quarter. Tidal Investments LLC lifted its stake in Black Stone Minerals by 8.4% in the 1st quarter. Tidal Investments LLC now owns 90,566 shares of the oil and gas producer’s stock valued at $1,447,000 after buying an additional 7,006 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc grew its holdings in Black Stone Minerals by 200.0% during the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 60,000 shares of the oil and gas producer’s stock valued at $959,000 after buying an additional 40,000 shares during the last quarter. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Insider Buying and Selling

In related news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the completion of the transaction, the chief executive officer now owns 3,133,128 shares of the company’s stock, valued at approximately $44,239,767.36. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was bought at an average cost of $14.12 per share, for a total transaction of $1,412,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $14.84, for a total value of $275,014.88. Following the completion of the transaction, the senior vice president now directly owns 116,923 shares in the company, valued at $1,735,137.32. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.60% of the company’s stock.

Analyst Ratings Changes

BSM has been the topic of several recent research reports. StockNews.com upgraded Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Piper Sandler cut their target price on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th.

Black Stone Minerals Stock Performance

Shares of BSM opened at $14.74 on Friday. Black Stone Minerals, L.P. has a fifty-two week low of $13.94 and a fifty-two week high of $18.55. The company has a market capitalization of $3.32 billion, a PE ratio of 9.96 and a beta of 0.93. The stock has a fifty day moving average of $14.88 and a two-hundred day moving average of $15.35.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, August 5th. The oil and gas producer reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). Black Stone Minerals had a net margin of 64.88% and a return on equity of 37.93%. The business had revenue of $109.62 million during the quarter, compared to analysts’ expectations of $124.24 million. During the same period in the prior year, the firm earned $0.35 EPS. As a group, equities research analysts forecast that Black Stone Minerals, L.P. will post 1.31 earnings per share for the current fiscal year.

Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.50 annualized dividend and a dividend yield of 10.18%. Black Stone Minerals’s payout ratio is currently 101.35%.

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 1.6 million gross acres located in 41 states in the United States.