LB Partners LLC Has $151,000 Position in Black Stone Minerals, L.P. (NYSE:BSM)

LB Partners LLC decreased its holdings in Black Stone Minerals, L.P. (NYSE:BSM) by 91.6% in the third quarter, HoldingsChannel reports. The institutional investor owned 10,000 shares of the oil and gas producer’s stock after selling 109,000 shares during the period. Black Stone Minerals makes up 0.1% of LB Partners LLC’s portfolio, making the stock its 21st biggest position. LB Partners LLC’s holdings in Black Stone Minerals were worth $151,000 at the end of the most recent quarter.

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

Insider Activity

In related news, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals 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 of the company’s stock, valued at $1,735,137.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction 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 directly owns 116,923 shares of the company’s stock, valued at $1,735,137.32. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was purchased at an average cost of $14.12 per share, with a total value of $1,412,000.00. Following the acquisition, the chief executive officer now directly owns 3,133,128 shares in the company, valued at $44,239,767.36. This trade 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 Trading Up 0.1 %

Black Stone Minerals stock traded up $0.02 during mid-day trading on Monday, hitting $14.98. The stock had a trading volume of 189,661 shares, compared to its average volume of 445,355. The stock has a 50-day simple moving average of $14.84 and a two-hundred day simple moving average of $15.44. The stock has a market capitalization of $3.15 billion, a PE ratio of 9.71 and a beta of 0.93. Black Stone Minerals, L.P. has a 12 month low of $13.94 and a 12 month high of $18.55.

Black Stone Minerals (NYSE:BSM) last issued its earnings results on Monday, August 5th. The oil and gas producer reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.08). Black Stone Minerals had a net margin of 64.88% and a return on equity of 37.93%. The business had revenue of $109.62 million during the quarter, compared to the consensus estimate of $124.24 million. During the same period last year, the business posted $0.35 EPS. Sell-side analysts expect that Black Stone Minerals, L.P. will post 1.31 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.50 annualized dividend and a dividend yield of 10.01%. Black Stone Minerals’s payout ratio is currently 97.40%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. KeyCorp began coverage on Black Stone Minerals in a report on Thursday, June 27th. They set a “sector weight” rating for the company. StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Finally, Piper Sandler reduced their price target on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Black Stone Minerals has a consensus rating of “Hold” and a consensus price target of $17.50.

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.