MAS Advisors LLC Acquires 1,506 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

MAS Advisors LLC raised its stake in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 5.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,179 shares of the oil and gas producer’s stock after buying an additional 1,506 shares during the period. MAS Advisors LLC’s holdings in Black Stone Minerals were worth $457,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bogart Wealth LLC acquired a new stake in Black Stone Minerals in the 1st quarter worth approximately $26,000. Newbridge Financial Services Group Inc. grew its stake in Black Stone Minerals by 279.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,036 shares of the oil and gas producer’s stock valued at $48,000 after buying an additional 2,236 shares during the last quarter. Summit Securities Group LLC acquired a new position in Black Stone Minerals during the 2nd quarter worth $74,000. SG Americas Securities LLC acquired a new stake in shares of Black Stone Minerals in the first quarter valued at about $102,000. Finally, Financial Advocates Investment Management bought a new position in shares of Black Stone Minerals in the second quarter worth about $159,000. Institutional investors and hedge funds own 14.49% of the company’s stock.

Insiders Place Their Bets

In other 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 value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Black Stone Minerals news, 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 completion of the transaction, the senior vice president now directly owns 116,923 shares of the company’s stock, valued at $1,735,137.32. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the transaction, the chief executive officer now directly owns 3,133,128 shares in the company, valued at $44,239,767.36. The disclosure for this purchase can be found here. Insiders own 19.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on BSM shares. Piper Sandler dropped their price target on 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. StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Tuesday, August 6th. Finally, KeyCorp initiated coverage on shares of Black Stone Minerals in a report on Thursday, June 27th. They set a “sector weight” rating on the stock. Three investment 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.com, the stock has an average rating of “Hold” and a consensus price target of $17.50.

Black Stone Minerals Stock Performance

Shares of BSM stock opened at $15.00 on Friday. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 9.74 and a beta of 0.93. The firm has a fifty day moving average of $14.88 and a 200-day moving average of $15.53. Black Stone Minerals, L.P. has a 52-week low of $13.94 and a 52-week 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 analysts’ consensus estimates 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 company had revenue of $109.62 million during the quarter, compared to analyst estimates of $124.24 million. During the same period in the previous year, the company posted $0.35 earnings per share. On average, sell-side analysts predict 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 declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were given a $0.375 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.50 dividend on an annualized basis and a yield of 10.00%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 97.40%.

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.