Short Interest in Black Stone Minerals, L.P. (NYSE:BSM) Expands By 6.1%

Black Stone Minerals, L.P. (NYSE:BSM – Get Rating) was the target of a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 1,570,000 shares, a growth of 6.1% from the February 13th total of 1,480,000 shares. Currently, 0.9% of the shares of the company are sold short. Based on an average daily volume of 896,000 shares, the short-interest ratio is currently 1.8 days.

Insider Buying and Selling

In related news, Director D Mark Dewalch acquired 31,150 shares of the business’s stock in a transaction on Monday, March 6th. The stock was purchased at an average cost of $15.85 per share, for a total transaction of $493,727.50. Following the completion of the transaction, the director now directly owns 260,879 shares of the company’s stock, valued at approximately $4,134,932.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Thomas L. Carter, Jr. acquired 30,000 shares of the business’s stock in a transaction on Monday, February 27th. The stock was purchased at an average cost of $15.58 per share, for a total transaction of $467,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,620,991 shares of the company’s stock, valued at approximately $40,835,039.78. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director D Mark Dewalch acquired 31,150 shares of the business’s stock in a transaction on Monday, March 6th. The shares were bought at an average price of $15.85 per share, with a total value of $493,727.50. Following the completion of the transaction, the director now directly owns 260,879 shares of the company’s stock, valued at $4,134,932.15. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 93,650 shares of company stock worth $1,459,028. Company insiders own 21.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Morgan Stanley raised its position in Black Stone Minerals by 144.9% during the fourth quarter. Morgan Stanley now owns 4,004,701 shares of the oil and gas producer’s stock valued at $67,559,000 after purchasing an additional 2,369,656 shares in the last quarter. UBS Group AG grew its stake in shares of Black Stone Minerals by 30.9% during the third quarter. UBS Group AG now owns 3,608,208 shares of the oil and gas producer’s stock worth $56,468,000 after buying an additional 850,920 shares during the last quarter. Penn Davis Mcfarland Inc. grew its stake in shares of Black Stone Minerals by 0.9% during the third quarter. Penn Davis Mcfarland Inc. now owns 1,575,272 shares of the oil and gas producer’s stock worth $24,653,000 after buying an additional 14,259 shares during the last quarter. Natixis grew its stake in shares of Black Stone Minerals by 97.9% during the fourth quarter. Natixis now owns 1,409,600 shares of the oil and gas producer’s stock worth $23,780,000 after buying an additional 697,400 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Black Stone Minerals by 239.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,152,661 shares of the oil and gas producer’s stock worth $19,445,000 after buying an additional 812,840 shares during the last quarter. 16.46% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BSM has been the subject of a number of analyst reports. Piper Sandler dropped their price target on shares of Black Stone Minerals from $18.00 to $17.00 and set a “neutral” rating for the company in a research report on Tuesday, March 7th. StockNews.com downgraded shares of Black Stone Minerals from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. KeyCorp dropped their price target on shares of Black Stone Minerals from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Thursday, December 8th. Finally, Raymond James downgraded shares of Black Stone Minerals from a “strong-buy” rating to an “outperform” rating and dropped their price target for the company from $20.00 to $19.00 in a research report on Monday, February 6th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $19.00.

Black Stone Minerals Stock Down 0.3 %

Shares of BSM opened at $14.31 on Friday. Black Stone Minerals has a one year low of $11.90 and a one year high of $20.24. The company has a market cap of $3.00 billion, a P/E ratio of 6.81 and a beta of 1.04. The company has a debt-to-equity ratio of 0.01, a current ratio of 5.64 and a quick ratio of 5.64. The firm has a 50 day simple moving average of $15.80 and a two-hundred day simple moving average of $16.65.

Black Stone Minerals Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 23rd. Shareholders of record on Thursday, February 16th were given a dividend of $0.475 per share. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.45. This represents a $1.90 annualized dividend and a yield of 13.28%. The ex-dividend date was Wednesday, February 15th. Black Stone Minerals’s payout ratio is currently 90.48%.

About Black Stone Minerals

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Black Stone Minerals LP is an exploration company. The firm engages in the exploration of oil and natural gas minerals. It focuses on the operation of Louisiana-Mississippi Salt Basins, Western Gulf, Permian Basin, Palo Duro Basin, East Texas Basin, Anadarko Basin, Appalachian Basin, Arkoma Basin, Bend Arch-Fort Worth, and Southwestern Wyoming.