Black Stone Minerals, L.P. (NYSE:BSM) Stock Position Raised by Moors & Cabot Inc.

Moors & Cabot Inc. boosted its position in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 3.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 93,450 shares of the oil and gas producer’s stock after purchasing an additional 3,000 shares during the period. Moors & Cabot Inc.’s holdings in Black Stone Minerals were worth $1,411,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BSM. SG Americas Securities LLC acquired a new position in Black Stone Minerals during the first quarter valued at $102,000. Tidal Investments LLC lifted its position in shares of Black Stone Minerals by 8.4% in the first quarter. Tidal Investments LLC now owns 90,566 shares of the oil and gas producer’s stock worth $1,447,000 after purchasing an additional 7,006 shares in the last quarter. Redhawk Wealth Advisors Inc. acquired a new stake in shares of Black Stone Minerals during the second quarter worth approximately $228,000. Summit Securities Group LLC purchased a new position in Black Stone Minerals during the second quarter valued at approximately $74,000. Finally, Financial Advocates Investment Management acquired a new position in Black Stone Minerals in the 2nd quarter valued at approximately $159,000. 14.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. StockNews.com cut shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Friday. Piper Sandler lowered their target price on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday.

Insider Activity at Black Stone Minerals

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the stock in a transaction on Friday, September 6th. The shares were purchased at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the acquisition, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. This represents a 3.30 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Carrie Pearson Clark sold 18,532 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $14.84, for a total transaction of $275,014.88. Following the completion of the sale, the senior vice president now directly owns 116,923 shares in the company, valued at approximately $1,735,137.32. The trade was a 13.68 % decrease in their position. The disclosure for this sale can be found here. 18.60% of the stock is owned by corporate insiders.

Black Stone Minerals Stock Up 1.5 %

Shares of BSM opened at $15.37 on Friday. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 9.49 and a beta of 0.94. The company’s fifty day moving average is $15.02 and its 200-day moving average is $15.27. Black Stone Minerals, L.P. has a 12 month low of $13.94 and a 12 month high of $17.80.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The firm had revenue of $134.86 million for the quarter, compared to the consensus estimate of $117.68 million. During the same period in the prior year, the business posted $0.27 earnings per share. As a group, research analysts predict that Black Stone Minerals, L.P. will post 1.32 earnings per share for the current fiscal year.

Black Stone Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 9.76%. The ex-dividend date of this dividend was Friday, November 8th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 92.59%.

About Black Stone Minerals

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.