26,533 Shares in Black Stone Minerals, L.P. (NYSE:BSM) Purchased by SG Americas Securities LLC

SG Americas Securities LLC acquired a new position in shares of Black Stone Minerals, L.P. (NYSE:BSMGet Rating) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,533 shares of the oil and gas producer’s stock, valued at approximately $363,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Brown Advisory Inc. lifted its position in Black Stone Minerals by 1.0% during the first quarter. Brown Advisory Inc. now owns 1,274,993 shares of the oil and gas producer’s stock worth $16,061,000 after purchasing an additional 12,088 shares during the period. Doliver Advisors LP lifted its position in Black Stone Minerals by 22.2% during the first quarter. Doliver Advisors LP now owns 23,124 shares of the oil and gas producer’s stock worth $311,000 after purchasing an additional 4,200 shares during the period. Cambridge Investment Research Advisors Inc. lifted its position in Black Stone Minerals by 4.0% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 388,864 shares of the oil and gas producer’s stock worth $5,324,000 after purchasing an additional 14,873 shares during the period. Spirit of America Management Corp NY lifted its holdings in shares of Black Stone Minerals by 7.2% in the second quarter. Spirit of America Management Corp NY now owns 462,249 shares of the oil and gas producer’s stock worth $6,328,000 after acquiring an additional 31,000 shares during the last quarter. Finally, Spire Wealth Management lifted its holdings in shares of Black Stone Minerals by 3,154.4% in the second quarter. Spire Wealth Management now owns 16,272 shares of the oil and gas producer’s stock worth $223,000 after acquiring an additional 15,772 shares during the last quarter. Institutional investors own 15.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. KeyCorp assumed coverage on shares of Black Stone Minerals in a report on Monday, September 19th. They issued an “overweight” rating and a $22.00 target price for the company. Piper Sandler increased their target price on shares of Black Stone Minerals from $17.00 to $18.00 and gave the stock a “neutral” rating in a report on Tuesday, October 18th. TheStreet raised shares of Black Stone Minerals from a “c+” rating to a “b” rating in a report on Friday, September 2nd. Finally, StockNews.com assumed coverage on shares of Black Stone Minerals in a report on Wednesday, October 12th. They issued a “buy” rating for the company. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $20.25.

Black Stone Minerals Stock Performance

Black Stone Minerals stock opened at $19.42 on Friday. The business has a 50 day moving average of $16.74 and a 200-day moving average of $15.65. Black Stone Minerals, L.P. has a 1 year low of $9.70 and a 1 year high of $19.75. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.25 and a quick ratio of 1.25. The company has a market capitalization of $4.35 billion, a P/E ratio of 10.33 and a beta of 1.05.

Black Stone Minerals Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 17th. Stockholders of record on Thursday, November 10th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Wednesday, November 9th. This represents a $1.80 annualized dividend and a dividend yield of 9.27%. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.42. Black Stone Minerals’s dividend payout ratio is currently 89.36%.

Insider Activity

In other news, CEO Thomas L. Carter, Jr. acquired 25,000 shares of the stock in a transaction dated Wednesday, September 14th. The stock was bought at an average price of $16.39 per share, with a total value of $409,750.00. Following the completion of the purchase, the chief executive officer now directly owns 2,273,012 shares of the company’s stock, valued at approximately $37,254,666.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 21.10% of the stock is currently owned by insiders.

Black Stone Minerals Profile

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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 1.7 million gross acres located in 41 states in the United States.

See Also

Institutional Ownership by Quarter for Black Stone Minerals (NYSE:BSM)

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