Commonwealth Equity Services LLC Acquires 6,069 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Commonwealth Equity Services LLC boosted its holdings in Black Stone Minerals, L.P. (NYSE:BSM) by 21.8% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,915 shares of the oil and gas producer’s stock after acquiring an additional 6,069 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Black Stone Minerals were worth $531,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Bogart Wealth LLC purchased a new position in shares of Black Stone Minerals in the 1st quarter worth about $26,000. Newbridge Financial Services Group Inc. boosted its holdings in Black Stone Minerals by 279.5% during 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 acquiring an additional 2,236 shares during the period. Summit Securities Group LLC purchased a new stake in Black Stone Minerals during the 2nd quarter valued at about $74,000. SG Americas Securities LLC purchased a new stake in Black Stone Minerals during the 1st quarter valued at about $102,000. Finally, Financial Advocates Investment Management purchased a new stake in Black Stone Minerals during the 2nd quarter valued at about $159,000. 14.49% of the stock is currently owned by institutional investors.

Black Stone Minerals Trading Down 0.2 %

Black Stone Minerals stock opened at $14.97 on Friday. The business’s fifty day simple moving average is $14.86 and its two-hundred day simple moving average is $15.53. Black Stone Minerals, L.P. has a 12 month low of $13.94 and a 12 month high of $18.55. The company has a market capitalization of $3.15 billion, a price-to-earnings ratio of 9.72 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 (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 the consensus estimate 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 period in the previous year, the company earned $0.35 earnings per share. On average, equities research analysts predict that Black Stone Minerals, L.P. will post 1.31 EPS for the current year.

Black Stone Minerals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 10.02%. The ex-dividend date of this dividend was Friday, August 9th. Black Stone Minerals’s dividend payout ratio is 97.40%.

Insider Buying and Selling at Black Stone Minerals

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 stock was 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 owns 116,923 shares in the company, valued at $1,735,137.32. The sale 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 Black Stone Minerals stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $14.84, for a total value of $275,014.88. Following the sale, the senior vice president now owns 116,923 shares of the company’s stock, valued at approximately $1,735,137.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director D Mark Dewalch acquired 34,200 shares of Black Stone Minerals stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost 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 $5,219,413.10. The disclosure for this purchase can be found here. 19.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BSM has been the subject of a number of recent analyst 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. KeyCorp assumed coverage on Black Stone Minerals in a research report on Thursday, June 27th. They issued a “sector weight” rating for the company. Finally, 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. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Black Stone Minerals has a consensus rating of “Hold” and a consensus target price of $17.50.

About Black Stone Minerals

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.