Black Stone Minerals, L.P. (NYSE:BSM) Position Trimmed by LB Partners LLC

LB Partners LLC lessened its stake in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 91.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 10,000 shares of the oil and gas producer’s stock after selling 109,000 shares during the period. Black Stone Minerals comprises about 0.1% of LB Partners LLC’s portfolio, making the stock its 21st largest holding. LB Partners LLC’s holdings in Black Stone Minerals were worth $151,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of BSM. Summit Securities Group LLC acquired a new stake in shares of Black Stone Minerals during the second quarter valued at approximately $74,000. SG Americas Securities LLC purchased a new stake in shares of Black Stone Minerals in the first quarter valued at $102,000. Financial Advocates Investment Management acquired a new stake in shares of Black Stone Minerals in the second quarter worth $159,000. Hilltop National Bank purchased a new position in shares of Black Stone Minerals during the first quarter valued at $177,000. Finally, Choreo LLC acquired a new position in Black Stone Minerals during the second quarter valued at $205,000. 14.49% of the stock is owned by institutional investors.

Insider Activity at Black Stone Minerals

In related news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the stock in a transaction 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 acquisition, the chief executive officer now directly owns 3,133,128 shares in the company, 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 accessible through this hyperlink. In other news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the firm’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 acquisition, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at approximately $44,239,767.36. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director D Mark Dewalch acquired 34,200 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price 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 of the company’s stock, valued at $5,219,413.10. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 19.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BSM has been the topic of several research analyst reports. StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Piper Sandler dropped their price objective on shares of 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. Finally, KeyCorp started coverage on shares of Black Stone Minerals in a research note 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 given a buy rating to the company. Based on data from MarketBeat, Black Stone Minerals has a consensus rating of “Hold” and a consensus target price of $17.50.

Black Stone Minerals Price Performance

NYSE:BSM traded up $0.02 during mid-day trading on Monday, reaching $14.98. The stock had a trading volume of 189,661 shares, compared to its average volume of 445,355. The stock has a market cap of $3.15 billion, a P/E ratio of 9.71 and a beta of 0.93. The business’s 50 day moving average is $14.84 and its 200 day moving average is $15.44. Black Stone Minerals, L.P. has a fifty-two week low of $13.94 and a fifty-two week high of $18.55.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.29 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). The business had revenue of $109.62 million for the quarter, compared to the consensus estimate 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 business posted $0.35 EPS. Equities analysts expect that Black Stone Minerals, L.P. will post 1.31 EPS for the current 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. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.01%. The ex-dividend date of this dividend is Friday, November 8th. Black Stone Minerals’s dividend payout ratio is 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.