Moors & Cabot Inc. Acquires 3,000 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Moors & Cabot Inc. increased its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 3.3% during the 3rd quarter, HoldingsChannel reports. The firm 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Summit Securities Group LLC acquired a new stake in Black Stone Minerals during the 2nd quarter worth approximately $74,000. SG Americas Securities LLC acquired a new stake in shares of Black Stone Minerals during the first quarter worth $102,000. Financial Advocates Investment Management bought a new stake in Black Stone Minerals in the 2nd quarter valued at $159,000. Choreo LLC acquired a new position in Black Stone Minerals in the 2nd quarter worth $205,000. Finally, BCS Wealth Management increased its holdings in Black Stone Minerals by 15.1% during the 3rd quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock worth $213,000 after purchasing an additional 1,852 shares in the last quarter. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BSM has been the subject of a number of research reports. StockNews.com downgraded Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Friday. Piper Sandler lowered their price objective on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday.

Black Stone Minerals Stock Performance

Shares of BSM opened at $15.37 on Friday. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 9.49 and a beta of 0.94. Black Stone Minerals, L.P. has a 52 week low of $13.94 and a 52 week high of $17.80. The stock has a fifty day moving average of $15.02 and a 200-day moving average of $15.27.

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

Black Stone Minerals Announces Dividend

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

Insiders Place Their Bets

In other news, SVP Carrie Pearson Clark sold 18,532 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was 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 of the company’s stock, valued at $1,735,137.32. This trade represents a 13.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas L. Carter, Jr. acquired 100,000 shares of Black Stone Minerals stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $14.12 per share, with a total value of $1,412,000.00. Following the purchase, the chief executive officer now 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 disclosure for this purchase can be found here. 18.60% of the stock is currently owned by insiders.

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.