54,556 Shares in Black Stone Minerals, L.P. (NYSE:BSM) Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new position in shares of Black Stone Minerals, L.P. (NYSE:BSM) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 54,556 shares of the oil and gas producer’s stock, valued at approximately $8,240,000.

A number of other large investors have also recently made changes to their positions in BSM. Summit Securities Group LLC purchased a new position in shares of Black Stone Minerals during the 2nd quarter worth about $74,000. SG Americas Securities LLC purchased a new stake in Black Stone Minerals in the 1st quarter valued at about $102,000. Financial Advocates Investment Management purchased a new stake in Black Stone Minerals in the 2nd quarter valued at about $159,000. Hilltop National Bank purchased a new stake in Black Stone Minerals in the 1st quarter valued at about $177,000. Finally, Choreo LLC purchased a new stake in Black Stone Minerals in the 2nd quarter valued at about $205,000. 14.49% of the stock is owned by hedge funds and other institutional investors.

Black Stone Minerals Stock Performance

Shares of BSM opened at $14.74 on Friday. The company has a 50 day moving average price of $14.88 and a 200-day moving average price of $15.35. Black Stone Minerals, L.P. has a fifty-two week low of $13.94 and a fifty-two week high of $18.55. The stock has a market capitalization of $3.32 billion, a PE ratio of 9.96 and a beta of 0.93.

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 for the quarter, missing the consensus estimate of $0.37 by ($0.08). Black Stone Minerals had a return on equity of 37.93% and a net margin of 64.88%. The business had revenue of $109.62 million during the quarter, compared to analysts’ expectations of $124.24 million. During the same period in the previous year, the company posted $0.35 EPS. Equities research analysts forecast that Black Stone Minerals, L.P. will post 1.31 EPS for the current year.

Black Stone Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be paid a dividend of $0.375 per share. The ex-dividend date is Friday, November 8th. This represents a $1.50 annualized dividend and a dividend yield of 10.18%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 101.35%.

Insider Buying and Selling

In related news, SVP Carrie Pearson Clark sold 18,532 shares of the business’s 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 completion of the transaction, the senior vice president now owns 116,923 shares in the company, valued at $1,735,137.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, SVP Carrie Pearson Clark sold 18,532 shares of the business’s 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 completion of the transaction, the senior vice president now owns 116,923 shares in the company, valued at $1,735,137.32. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director D Mark Dewalch acquired 34,200 shares of Black Stone Minerals stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $14.62 per share, with a total value of $500,004.00. Following the purchase, the director now owns 357,005 shares in the company, valued at $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. 18.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

BSM has been the subject of several research reports. StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Piper Sandler lowered their price objective on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th.

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.