Moors & Cabot Inc. Boosts Stake in Black Stone Minerals, L.P. (NYSE:BSM)

Moors & Cabot Inc. raised its position in Black Stone Minerals, L.P. (NYSE:BSM) by 1.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 85,950 shares of the oil and gas producer’s stock after buying an additional 1,300 shares during the period. Moors & Cabot Inc.’s holdings in Black Stone Minerals were worth $1,371,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BSM. Acadian Asset Management LLC boosted its position in Black Stone Minerals by 29.2% in the 1st quarter. Acadian Asset Management LLC now owns 37,467 shares of the oil and gas producer’s stock valued at $502,000 after buying an additional 8,473 shares during the last quarter. Covestor Ltd acquired a new stake in shares of Black Stone Minerals in the 1st quarter valued at about $77,000. First Trust Advisors LP raised its stake in shares of Black Stone Minerals by 48.5% in the 1st quarter. First Trust Advisors LP now owns 325,532 shares of the oil and gas producer’s stock valued at $4,382,000 after purchasing an additional 106,352 shares in the last quarter. Ancora Advisors LLC raised its stake in shares of Black Stone Minerals by 29.2% in the 1st quarter. Ancora Advisors LLC now owns 870,043 shares of the oil and gas producer’s stock valued at $7,587,000 after purchasing an additional 196,837 shares in the last quarter. Finally, ING Groep NV acquired a new stake in shares of Black Stone Minerals in the 1st quarter valued at about $767,000. 13.32% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Piper Sandler increased their price objective on shares of Black Stone Minerals from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday. Raymond James lowered shares of Black Stone Minerals from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 24th. Finally, StockNews.com started coverage on shares of Black Stone Minerals in a research note on Thursday, October 5th. They issued a “hold” rating on the stock.

Insider Activity

In related news, CEO Thomas L. Carter, Jr. acquired 25,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was acquired at an average cost of $18.21 per share, for a total transaction of $455,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,727,791 shares of the company’s stock, valued at approximately $49,673,074.11. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. bought 9,000 shares of Black Stone Minerals stock in a transaction that occurred on Wednesday, November 8th. The stock was purchased at an average cost of $17.11 per share, for a total transaction of $153,990.00. Following the completion of the acquisition, the chief executive officer now owns 2,761,368 shares of the company’s stock, valued at approximately $47,247,006.48. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Thomas L. Carter, Jr. bought 25,000 shares of Black Stone Minerals stock in a transaction that occurred on Monday, November 6th. The shares were acquired at an average price of $18.21 per share, with a total value of $455,250.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,727,791 shares of the company’s stock, valued at approximately $49,673,074.11. The disclosure for this purchase can be found here. Insiders purchased 59,000 shares of company stock worth $1,065,990 over the last three months. Corporate insiders own 19.60% of the company’s stock.

Black Stone Minerals Trading Down 0.1 %

Shares of NYSE:BSM opened at $17.31 on Friday. The firm’s 50 day moving average is $17.58 and its two-hundred day moving average is $16.82. Black Stone Minerals, L.P. has a 52 week low of $13.41 and a 52 week high of $19.16. The firm has a market capitalization of $3.89 billion, a P/E ratio of 8.49 and a beta of 1.02.

Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Thursday, November 9th were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 10.98%. The ex-dividend date was Wednesday, November 8th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 93.14%.

Black Stone Minerals 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 16.8 million gross acres, and overriding royalty interests in 1.8 million gross acres located in 41 states in the United States.