US Bancorp DE Cuts Stake in Black Stone Minerals, L.P. (NYSE:BSM)

US Bancorp DE lowered its position in Black Stone Minerals, L.P. (NYSE:BSM) by 20.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,950 shares of the oil and gas producer’s stock after selling 4,500 shares during the quarter. US Bancorp DE’s holdings in Black Stone Minerals were worth $271,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in BSM. Cadence Bank raised its holdings in shares of Black Stone Minerals by 3.1% during the first quarter. Cadence Bank now owns 26,350 shares of the oil and gas producer’s stock valued at $421,000 after acquiring an additional 784 shares in the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in shares of Black Stone Minerals by 10.1% during 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 acquiring an additional 1,465 shares in the last quarter. MAS Advisors LLC raised its holdings in shares of Black Stone Minerals by 5.4% during the second quarter. MAS Advisors LLC now owns 29,179 shares of the oil and gas producer’s stock valued at $457,000 after acquiring an additional 1,506 shares in the last quarter. BCS Wealth Management raised its holdings in Black Stone Minerals by 15.1% in the third quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock worth $213,000 after purchasing an additional 1,852 shares in the last quarter. Finally, Doliver Advisors LP raised its holdings in Black Stone Minerals by 14.2% in 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. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on BSM. Piper Sandler decreased their price objective on Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. StockNews.com downgraded Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th.

Black Stone Minerals Trading Up 0.6 %

NYSE BSM opened at $15.15 on Thursday. Black Stone Minerals, L.P. has a 12 month low of $13.94 and a 12 month high of $17.80. The stock has a market cap of $3.41 billion, a P/E ratio of 9.34 and a beta of 0.94. The stock’s fifty day moving average price is $14.92 and its 200-day moving average price is $15.31.

Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.06. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. The firm had revenue of $134.86 million for the quarter, compared to analysts’ expectations of $117.68 million. During the same period in the prior year, the firm posted $0.27 earnings per share. As a group, analysts forecast that Black Stone Minerals, L.P. will post 1.32 earnings per share for the current fiscal year.

Black Stone Minerals Dividend Announcement

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 paid a $0.375 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.90%. Black Stone Minerals’s dividend payout ratio is currently 92.59%.

Insider Transactions at Black Stone Minerals

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average cost of $14.12 per share, with a total value of $1,412,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at approximately $44,239,767.36. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed 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 firm’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 transaction, the senior vice president now directly owns 116,923 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, CEO Thomas L. Carter, Jr. bought 100,000 shares of the company’s stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $14.12 per share, for a total transaction of $1,412,000.00. Following the completion of the transaction, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at approximately $44,239,767.36. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 18.60% of the company’s stock.

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.