PNC Financial Services Group Inc. bought a new position in Black Stone Minerals, L.P. (NYSE:BSM – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 31,800 shares of the oil and gas producer’s stock, valued at approximately $536,000.
A number of other hedge funds and other institutional investors have also modified their holdings of BSM. Optimum Investment Advisors bought a new position in Black Stone Minerals in the 4th quarter worth $51,000. Clearstead Advisors LLC bought a new position in Black Stone Minerals in the 3rd quarter worth $51,000. Geneos Wealth Management Inc. raised its holdings in Black Stone Minerals by 109.5% in the 4th quarter. Geneos Wealth Management Inc. now owns 4,400 shares of the oil and gas producer’s stock worth $74,000 after acquiring an additional 2,300 shares during the period. Covestor Ltd bought a new position in Black Stone Minerals in the 1st quarter worth $77,000. Finally, U.S. Capital Wealth Advisors LLC bought a new position in Black Stone Minerals in the 4th quarter worth $82,000. Institutional investors own 16.46% of the company’s stock.
Insider Activity
In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. bought 31,800 shares of Black Stone Minerals stock in a transaction that occurred on Friday, May 5th. The stock was acquired at an average price of $15.53 per share, for a total transaction of $493,854.00. Following the completion of the acquisition, the chief executive officer now owns 2,652,791 shares of the company’s stock, valued at approximately $41,197,844.23. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Black Stone Minerals news, Director D Mark Dewalch purchased 31,150 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were acquired at an average cost of $15.85 per share, with a total value of $493,727.50. Following the completion of the transaction, the director now owns 260,879 shares in the company, valued at $4,134,932.15. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Thomas L. Carter, Jr. purchased 31,800 shares of the stock in a transaction that occurred on Friday, May 5th. The shares were acquired at an average cost of $15.53 per share, for a total transaction of $493,854.00. Following the completion of the transaction, the chief executive officer now owns 2,652,791 shares of the company’s stock, valued at approximately $41,197,844.23. The disclosure for this purchase can be found here. Corporate insiders own 21.10% of the company’s stock.
Black Stone Minerals Trading Up 2.2 %
Shares of NYSE BSM opened at $16.02 on Friday. The company has a market cap of $3.36 billion, a PE ratio of 5.80 and a beta of 1.04. The company has a 50-day moving average of $15.94 and a two-hundred day moving average of $16.22. Black Stone Minerals, L.P. has a 1-year low of $12.81 and a 1-year high of $20.24.
Black Stone Minerals (NYSE:BSM – Get Rating) last posted its quarterly earnings results on Monday, May 1st. The oil and gas producer reported $0.46 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.46. The business had revenue of $174.58 million during the quarter, compared to the consensus estimate of $138.68 million. Black Stone Minerals had a net margin of 77.07% and a return on equity of 54.18%. As a group, equities research analysts forecast that Black Stone Minerals, L.P. will post 1.82 earnings per share for the current year.
Black Stone Minerals Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, May 19th. Stockholders of record on Friday, May 12th were issued a $0.475 dividend. This represents a $1.90 annualized dividend and a dividend yield of 11.86%. The ex-dividend date of this dividend was Thursday, May 11th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 68.84%.
Analyst Ratings Changes
BSM has been the topic of several research analyst reports. Piper Sandler decreased their price target on shares of Black Stone Minerals from $16.00 to $15.00 in a research report on Thursday, May 18th. Raymond James boosted their price target on shares of Black Stone Minerals from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Friday, April 21st. Finally, StockNews.com started coverage on shares of Black Stone Minerals in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.
Black Stone Minerals Profile
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.
Further Reading
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