Truist Financial Corp Has $775,000 Position in Black Stone Minerals, L.P. (NYSE:BSM)

Truist Financial Corp trimmed its stake in Black Stone Minerals, L.P. (NYSE:BSM) by 2.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 49,468 shares of the oil and gas producer’s stock after selling 1,000 shares during the period. Truist Financial Corp’s holdings in Black Stone Minerals were worth $775,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Cadence Bank grew its position in Black Stone Minerals by 3.1% in the 1st quarter. Cadence Bank now owns 26,350 shares of the oil and gas producer’s stock worth $421,000 after purchasing an additional 784 shares during the last quarter. MAS Advisors LLC lifted its position in Black Stone Minerals by 5.4% in the second quarter. MAS Advisors LLC now owns 29,179 shares of the oil and gas producer’s stock worth $457,000 after purchasing an additional 1,506 shares during the period. F&V Capital Management LLC raised its stake in shares of Black Stone Minerals by 10.4% in the 1st quarter. F&V Capital Management LLC now owns 20,200 shares of the oil and gas producer’s stock valued at $323,000 after buying an additional 1,900 shares in the last quarter. Newbridge Financial Services Group Inc. increased its stake in Black Stone Minerals by 279.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,036 shares of the oil and gas producer’s stock valued at $48,000 after acquiring an additional 2,236 shares during the period. Finally, Bahl & Gaynor Inc. grew its stake in shares of Black Stone Minerals by 29.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 17,500 shares of the oil and gas producer’s stock valued at $274,000 after purchasing an additional 4,000 shares during the period. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Black Stone Minerals Stock Down 1.2 %

Shares of BSM stock opened at $15.06 on Tuesday. Black Stone Minerals, L.P. has a 12-month low of $13.94 and a 12-month high of $18.55. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 9.78 and a beta of 0.93. The firm has a fifty day moving average of $14.81 and a 200-day moving average of $15.47.

Black Stone Minerals (NYSE:BSM) last posted 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). The firm had revenue of $109.62 million for the quarter, compared to the consensus estimate of $124.24 million. Black Stone Minerals had a return on equity of 37.93% and a net margin of 64.88%. During the same quarter in the previous year, the business posted $0.35 earnings per share. Research analysts expect that Black Stone Minerals, L.P. will post 1.31 earnings per share for the current year.

Black Stone Minerals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Friday, August 9th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, August 9th. This represents a $1.50 dividend on an annualized basis and a yield of 9.96%. Black Stone Minerals’s payout ratio is 97.40%.

Wall Street Analyst Weigh In

Several analysts recently commented on BSM shares. StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Piper Sandler reduced their price objective 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. Finally, KeyCorp began coverage on Black Stone Minerals in a report on Thursday, June 27th. They set a “sector weight” rating on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $17.50.

Insider Activity at Black Stone Minerals

In other Black Stone Minerals news, Director D Mark Dewalch purchased 34,200 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $14.62 per share, for a total transaction of $500,004.00. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other Black Stone Minerals news, SVP Carrie Pearson Clark sold 18,532 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $14.84, for a total transaction 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director D Mark Dewalch acquired 34,200 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $14.62 per share, with a total value of $500,004.00. Following the completion of the acquisition, the director now directly owns 357,005 shares in the company, valued at approximately $5,219,413.10. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 19.60% of the stock is currently owned by company 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.