10,140 Shares in Black Stone Minerals, L.P. (NYSE:BSM) Acquired by Financial Advocates Investment Management

Financial Advocates Investment Management bought a new stake in shares of Black Stone Minerals, L.P. (NYSE:BSM) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,140 shares of the oil and gas producer’s stock, valued at approximately $159,000.

A number of other hedge funds also recently modified their holdings of BSM. Nomura Holdings Inc. acquired a new position in Black Stone Minerals during the fourth quarter valued at $5,635,000. Investment Management Associates Inc. ADV increased its holdings in shares of Black Stone Minerals by 18.3% in the 4th quarter. Investment Management Associates Inc. ADV now owns 1,221,389 shares of the oil and gas producer’s stock valued at $19,493,000 after purchasing an additional 188,975 shares during the period. Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Black Stone Minerals in the 1st quarter valued at about $2,560,000. ING Groep NV boosted its holdings in shares of Black Stone Minerals by 37.9% during the fourth quarter. ING Groep NV now owns 530,500 shares of the oil and gas producer’s stock worth $8,467,000 after purchasing an additional 145,700 shares during the period. Finally, Anthracite Investment Company Inc. purchased a new position in Black Stone Minerals during the fourth quarter valued at approximately $1,725,000. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Insider Buying and Selling at Black Stone Minerals

In other news, SVP Carrie Pearson Clark sold 18,532 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 116,923 shares in the company, valued at $1,735,137.32. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, 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 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 owns 357,005 shares in the company, valued at $5,219,413.10. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Carrie Pearson Clark sold 18,532 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $14.84, for a total value of $275,014.88. Following the transaction, the senior vice president now owns 116,923 shares in the company, valued at $1,735,137.32. The disclosure for this sale can be found here. Insiders own 19.60% of the company’s stock.

Analysts Set New Price Targets

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

Black Stone Minerals Stock Down 0.5 %

BSM stock opened at $14.92 on Friday. The firm has a 50 day moving average of $15.17 and a two-hundred day moving average of $15.60. Black Stone Minerals, L.P. has a 12 month low of $13.94 and a 12 month high of $18.55. The company has a market capitalization of $3.14 billion, a price-to-earnings ratio of 9.69 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 analysts’ consensus estimates of $0.37 by ($0.08). Black Stone Minerals had a return on equity of 38.71% and a net margin of 66.29%. The business had revenue of $109.62 million during the quarter, compared to the consensus estimate of $124.24 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. On average, research analysts expect that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were paid a dividend of $0.375 per share. The ex-dividend date was Friday, August 9th. This represents a $1.50 annualized dividend and a yield of 10.05%. Black Stone Minerals’s payout ratio is 97.40%.

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.