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

BCS Wealth Management increased its position in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 15.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,130 shares of the oil and gas producer’s stock after acquiring an additional 1,852 shares during the period. BCS Wealth Management’s holdings in Black Stone Minerals were worth $213,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Summit Securities Group LLC acquired a new position in Black Stone Minerals during the second quarter worth about $74,000. SG Americas Securities LLC purchased a new position in Black Stone Minerals in the 1st quarter worth about $102,000. Financial Advocates Investment Management purchased a new position in Black Stone Minerals in the 2nd quarter worth about $159,000. Hilltop National Bank purchased a new position in Black Stone Minerals in the 1st quarter worth about $177,000. Finally, Choreo LLC purchased a new position in Black Stone Minerals in the 2nd quarter worth about $205,000. 14.49% of the stock is owned by institutional investors and hedge funds.

Black Stone Minerals Trading Up 1.2 %

Shares of NYSE BSM opened at $15.09 on Friday. The firm has a market capitalization of $3.17 billion, a PE ratio of 9.80 and a beta of 0.93. Black Stone Minerals, L.P. has a one year low of $13.94 and a one year high of $18.55. The business has a 50-day moving average price of $14.83 and a two-hundred day moving average price of $15.46.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results 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). The firm had revenue of $109.62 million for the quarter, compared to analyst estimates of $124.24 million. Black Stone Minerals had a net margin of 64.88% and a return on equity of 37.93%. During the same quarter in the prior year, the firm earned $0.35 earnings per share. Research analysts anticipate that Black Stone Minerals, L.P. will post 1.31 EPS for the current year.

Black Stone Minerals Announces Dividend

The company also recently declared 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 9.94%. Black Stone Minerals’s dividend payout ratio is 97.40%.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BSM shares. Piper Sandler dropped their price target on Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Finally, KeyCorp assumed coverage on 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’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $17.50.

Insider Activity

In other news, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction dated Monday, August 26th. The stock was 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 $1,735,137.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction dated Monday, August 26th. The stock was 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 $1,735,137.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director D Mark Dewalch bought 34,200 shares of Black Stone Minerals stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $14.62 per share, with a total value of $500,004.00. Following the completion of the acquisition, the director now owns 357,005 shares in the company, valued at approximately $5,219,413.10. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 19.60% of the stock is owned by corporate insiders.

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.