Black Stone Minerals, L.P. (NYSE:BSM) Stock Position Reduced by Cibc World Market Inc.

Cibc World Market Inc. decreased its stake in Black Stone Minerals, L.P. (NYSE:BSMGet Rating) by 50.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,260 shares of the oil and gas producer’s stock after selling 15,260 shares during the quarter. Cibc World Market Inc.’s holdings in Black Stone Minerals were worth $209,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Advisory Services Network LLC boosted its position in Black Stone Minerals by 6.9% during the second quarter. Advisory Services Network LLC now owns 10,800 shares of the oil and gas producer’s stock valued at $148,000 after purchasing an additional 700 shares during the last quarter. Mraz Amerine & Associates Inc. grew its stake in shares of Black Stone Minerals by 0.5% in the 2nd quarter. Mraz Amerine & Associates Inc. now owns 133,634 shares of the oil and gas producer’s stock valued at $1,829,000 after buying an additional 727 shares in the last quarter. Linscomb & Williams Inc. increased its holdings in Black Stone Minerals by 7.3% in the first quarter. Linscomb & Williams Inc. now owns 11,801 shares of the oil and gas producer’s stock worth $159,000 after buying an additional 801 shares during the last quarter. Gruss & Co. LLC raised its position in Black Stone Minerals by 0.7% during the second quarter. Gruss & Co. LLC now owns 121,863 shares of the oil and gas producer’s stock valued at $1,668,000 after acquiring an additional 900 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake in Black Stone Minerals by 8.4% in the second quarter. Commonwealth Equity Services LLC now owns 15,214 shares of the oil and gas producer’s stock valued at $208,000 after acquiring an additional 1,176 shares during the last quarter. Institutional investors and hedge funds own 15.06% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Thomas L. Carter, Jr. bought 25,000 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were acquired at an average price of $16.27 per share, with a total value of $406,750.00. Following the completion of the transaction, the chief executive officer now owns 2,223,012 shares of the company’s stock, valued at approximately $36,168,405.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Dawn Smajstrla sold 5,300 shares of the stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $19.41, for a total value of $102,873.00. Following the completion of the transaction, the chief accounting officer now directly owns 78,348 shares of the company’s stock, valued at approximately $1,520,734.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Thomas L. Carter, Jr. purchased 25,000 shares of the stock in a transaction on Monday, September 12th. The stock was bought at an average price of $16.27 per share, for a total transaction of $406,750.00. Following the completion of the transaction, the chief executive officer now directly owns 2,223,012 shares of the company’s stock, valued at $36,168,405.24. The disclosure for this purchase can be found here. Insiders have acquired a total of 75,000 shares of company stock valued at $1,298,000 in the last three months. Company insiders own 21.10% of the company’s stock.

Black Stone Minerals Stock Down 0.9 %

BSM stock opened at $18.25 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.25 and a quick ratio of 2.25. The company has a 50-day moving average of $17.46 and a two-hundred day moving average of $15.94. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 9.71 and a beta of 1.05. Black Stone Minerals, L.P. has a 52-week low of $9.70 and a 52-week high of $20.24.

Black Stone Minerals Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 17th. Shareholders of record on Thursday, November 10th were issued a $0.45 dividend. The ex-dividend date was Wednesday, November 9th. This represents a $1.80 dividend on an annualized basis and a yield of 9.86%. This is a positive change from Black Stone Minerals’s previous quarterly dividend of $0.42. Black Stone Minerals’s dividend payout ratio (DPR) is 95.75%.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. KeyCorp assumed coverage on shares of Black Stone Minerals in a research note on Monday, September 19th. They set an “overweight” rating and a $22.00 price target on the stock. TheStreet raised shares of Black Stone Minerals from a “c+” rating to a “b” rating in a research report on Friday, September 2nd. StockNews.com began coverage on Black Stone Minerals in a research report on Wednesday, October 12th. They issued a “buy” rating for the company. Finally, Piper Sandler increased their price objective on Black Stone Minerals from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, November 17th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Black Stone Minerals presently has a consensus rating of “Buy” and an average target price of $20.50.

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.

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

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