Black Stone Minerals, L.P. (NYSE:BSM) Shares Acquired by BCS Wealth Management

BCS Wealth Management lifted its position in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 15.1% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,130 shares of the oil and gas producer’s stock after buying an additional 1,852 shares during the quarter. BCS Wealth Management’s holdings in Black Stone Minerals were worth $213,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC purchased a new position in Black Stone Minerals in the 2nd quarter valued at about $74,000. SG Americas Securities LLC purchased a new position in Black Stone Minerals in the 1st quarter valued at about $102,000. Financial Advocates Investment Management purchased a new position in Black Stone Minerals in the 2nd quarter valued at about $159,000. Hilltop National Bank purchased a new position in Black Stone Minerals in the 1st quarter valued at about $177,000. Finally, Choreo LLC purchased a new position in Black Stone Minerals in the 2nd quarter valued at about $205,000. Institutional investors and hedge funds own 14.49% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on BSM shares. Piper Sandler reduced their target price on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Finally, KeyCorp began coverage on shares of Black Stone Minerals in a research report on Thursday, June 27th. They set a “sector weight” rating for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $17.50.

Insider Transactions at Black Stone Minerals

In related news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was acquired 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 $44,239,767.36. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director D Mark Dewalch acquired 34,200 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $14.62 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the director now directly owns 357,005 shares in the company, valued at $5,219,413.10. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price 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 owns 3,133,128 shares of the company’s stock, valued at approximately $44,239,767.36. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 19.60% of the company’s stock.

Black Stone Minerals Stock Up 1.2 %

Shares of NYSE:BSM opened at $15.09 on Friday. Black Stone Minerals, L.P. has a 52-week low of $13.94 and a 52-week high of $18.55. The company has a 50 day moving average of $14.83 and a two-hundred day moving average of $15.46. The company has a market capitalization of $3.17 billion, a price-to-earnings ratio of 9.80 and a beta of 0.93.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data on Monday, August 5th. The oil and gas producer reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $109.62 million during the quarter, compared to analyst estimates of $124.24 million. During the same period last year, the business earned $0.35 EPS. On average, equities analysts anticipate that Black Stone Minerals, L.P. will post 1.31 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.94%. The ex-dividend date is Friday, November 8th. Black Stone Minerals’s payout ratio is currently 97.40%.

Black Stone Minerals 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.