Black Stone Minerals, L.P. (NYSE:BSM) Short Interest Down 5.2% in October

Black Stone Minerals, L.P. (NYSE:BSM) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 3,080,000 shares, a decrease of 5.2% from the September 30th total of 3,250,000 shares. Approximately 1.8% of the company’s stock are short sold. Based on an average daily volume of 411,700 shares, the short-interest ratio is presently 7.5 days.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. StockNews.com upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Piper Sandler dropped their target price 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.

Black Stone Minerals Trading Up 0.7 %

Shares of BSM stock opened at $14.87 on Friday. The stock has a market capitalization of $3.35 billion, a P/E ratio of 10.05 and a beta of 0.93. The firm’s 50 day moving average is $14.89 and its 200 day moving average is $15.35. Black Stone Minerals has a 12 month low of $13.94 and a 12 month high of $18.55.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.29 EPS 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 analysts’ expectations 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 previous year, the company posted $0.35 earnings per share. On average, equities analysts predict that Black Stone Minerals will post 1.27 EPS for the current year.

Black Stone Minerals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 10.09%. The ex-dividend date of this dividend is Friday, November 8th. Black Stone Minerals’s dividend payout ratio is presently 101.35%.

Insiders Place Their Bets

In other Black Stone Minerals news, SVP Carrie Pearson Clark sold 18,532 shares of the company’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 completion of the sale, the senior vice president now directly owns 116,923 shares of the company’s stock, valued at approximately $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 accessible through the SEC website. In related news, CEO Thomas L. Carter, Jr. bought 100,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $14.12 per share, for a total transaction of $1,412,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,133,128 shares in the company, valued at $44,239,767.36. 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. 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 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 approximately $1,735,137.32. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.60% of the stock is currently owned by insiders.

Institutional Trading of Black Stone Minerals

Institutional investors and hedge funds have recently bought and sold shares of the company. Prevail Innovative Wealth Advisors LLC purchased a new stake in Black Stone Minerals in the 1st quarter worth approximately $2,560,000. Magnolia Capital Advisors LLC purchased a new stake in Black Stone Minerals in the 2nd quarter worth approximately $2,480,000. Fiducient Advisors LLC purchased a new stake in Black Stone Minerals in the 3rd quarter worth approximately $12,253,000. International Assets Investment Management LLC purchased a new stake in Black Stone Minerals in the 3rd quarter worth approximately $8,240,000. Finally, GraniteShares Advisors LLC lifted its stake in Black Stone Minerals by 14.2% in the 2nd quarter. GraniteShares Advisors LLC now owns 121,795 shares of the oil and gas producer’s stock worth $1,909,000 after purchasing an additional 15,188 shares in the last quarter. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Black Stone Minerals Company 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.