SG Americas Securities LLC Purchases 10,022 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

SG Americas Securities LLC increased its position in shares of Black Stone Minerals, L.P. (NYSE:BSM – Get Rating) by 37.8% during the 3rd quarter, Holdings Channel reports. The fund owned 36,555 shares of the oil and gas producer’s stock after buying an additional 10,022 shares during the quarter. SG Americas Securities LLC’s holdings in Black Stone Minerals were worth $572,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Ronald Blue Trust Inc. bought a new position in Black Stone Minerals in the second quarter valued at approximately $228,000. Cambridge Investment Research Advisors Inc. lifted its stake in Black Stone Minerals by 4.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 388,864 shares of the oil and gas producer’s stock valued at $5,324,000 after buying an additional 14,873 shares in the last quarter. Investment Management Associates Inc. ADV lifted its stake in Black Stone Minerals by 25.5% in the second quarter. Investment Management Associates Inc. ADV now owns 712,254 shares of the oil and gas producer’s stock valued at $11,097,000 after buying an additional 144,803 shares in the last quarter. CI Investments Inc. lifted its stake in Black Stone Minerals by 66.7% in the second quarter. CI Investments Inc. now owns 5,000 shares of the oil and gas producer’s stock valued at $68,000 after buying an additional 2,000 shares in the last quarter. Finally, Spirit of America Management Corp NY lifted its stake in 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 valued at $6,328,000 after buying an additional 31,000 shares in the last quarter. Institutional investors own 16.46% of the company’s stock.

Insider Buying and Selling

In other news, CEO Thomas L. Carter, Jr. bought 25,000 shares of the stock in a transaction that occurred on Tuesday, December 6th. The shares were acquired at an average cost of $17.31 per share, for a total transaction of $432,750.00. Following the completion of the acquisition, the chief executive officer now owns 2,372,643 shares in the company, valued at $41,070,450.33. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Black Stone Minerals news, CAO Dawn Smajstrla sold 5,300 shares of the company’s stock in a transaction on Friday, November 4th. The shares were sold at an average price of $19.41, for a total value of $102,873.00. Following the transaction, the chief accounting officer now directly owns 78,348 shares in the company, valued at $1,520,734.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Thomas L. Carter, Jr. acquired 25,000 shares of the firm’s stock in a transaction on Tuesday, December 6th. The stock was bought at an average price of $17.31 per share, for a total transaction of $432,750.00. Following the completion of the acquisition, the chief executive officer now owns 2,372,643 shares of the company’s stock, valued at $41,070,450.33. The disclosure for this purchase can be found here. 20.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BSM has been the topic of a number of recent research reports. KeyCorp lowered their price objective on shares of Black Stone Minerals from $22.00 to $21.00 and set an “overweight” rating on the stock in a report on Thursday, December 8th. StockNews.com initiated coverage on shares of Black Stone Minerals in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. Finally, Piper Sandler lifted their price objective on shares of Black Stone Minerals from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, November 17th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Black Stone Minerals currently has a consensus rating of “Buy” and an average target price of $20.25.

Black Stone Minerals Price Performance

Shares of BSM opened at $16.73 on Tuesday. The company has a market cap of $3.50 billion, a price-to-earnings ratio of 8.90 and a beta of 1.07. Black Stone Minerals, L.P. has a 1-year low of $10.45 and a 1-year high of $20.24. The company’s fifty day simple moving average is $17.11 and its 200 day simple moving average is $16.49. The company has a current ratio of 2.25, a quick ratio of 2.25 and a debt-to-equity ratio of 0.07.

Black Stone Minerals (NYSE:BSM – Get Rating) last issued its earnings results on Monday, October 31st. The oil and gas producer reported $0.46 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.03. The business had revenue of $216.43 million for the quarter, compared to the consensus estimate of $177.08 million. Black Stone Minerals had a net margin of 69.77% and a return on equity of 45.85%. On average, research analysts forecast that Black Stone Minerals, L.P. will post 1.7 earnings per share for the current fiscal year.

Black Stone Minerals Company 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.