Creative Planning Trims Position in Black Stone Minerals, L.P. (NYSE:BSM)

Creative Planning trimmed its holdings in Black Stone Minerals, L.P. (NYSE:BSM) by 25.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 11,857 shares of the oil and gas producer’s stock after selling 4,100 shares during the period. Creative Planning’s holdings in Black Stone Minerals were worth $179,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Redhawk Wealth Advisors Inc. raised its holdings in shares of Black Stone Minerals by 10.1% in the third quarter. Redhawk Wealth Advisors Inc. now owns 16,005 shares of the oil and gas producer’s stock valued at $242,000 after buying an additional 1,465 shares during the last quarter. Cypress Wealth Services LLC purchased a new position in Black Stone Minerals during the third quarter worth about $324,000. Doliver Advisors LP raised its holdings in Black Stone Minerals by 14.2% during the third quarter. Doliver Advisors LP now owns 30,943 shares of the oil and gas producer’s stock worth $467,000 after purchasing an additional 3,856 shares in the last quarter. Magnolia Capital Advisors LLC purchased a new position in Black Stone Minerals during the second quarter worth about $2,480,000. Finally, Evergreen Capital Management LLC raised its holdings in Black Stone Minerals by 61.1% during the second quarter. Evergreen Capital Management LLC now owns 54,156 shares of the oil and gas producer’s stock worth $849,000 after purchasing an additional 20,545 shares in the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Black Stone Minerals

In related news, Director D Mark Dewalch purchased 34,200 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were bought at an average price of $14.62 per share, for a total transaction of $500,004.00. Following the acquisition, the director now directly owns 357,005 shares in the company, valued at $5,219,413.10. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. bought 100,000 shares of Black Stone Minerals stock in a transaction that occurred on Friday, September 6th. The shares were acquired at an average price of $14.12 per share, for a total transaction of $1,412,000.00. Following the acquisition, the chief executive officer now owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director D Mark Dewalch bought 34,200 shares of Black Stone Minerals stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $14.62 per share, for a total transaction of $500,004.00. Following the acquisition, the director now directly owns 357,005 shares in the company, valued at approximately $5,219,413.10. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 18.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Piper Sandler lowered 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 report on Thursday, August 15th. StockNews.com lowered shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th.

Black Stone Minerals Stock Performance

Shares of BSM opened at $15.00 on Tuesday. The company has a market capitalization of $3.38 billion, a price-to-earnings ratio of 9.19 and a beta of 0.94. Black Stone Minerals, L.P. has a 1 year low of $13.94 and a 1 year high of $17.80. The company’s 50 day simple moving average is $14.91 and its 200 day simple moving average is $15.32.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. The company had revenue of $134.86 million for the quarter, compared to analyst estimates of $117.68 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. During the same quarter last year, the business earned $0.27 EPS. Equities analysts expect that Black Stone Minerals, L.P. will post 1.32 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be issued a $0.375 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.00%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 92.59%.

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.