Black Stone Minerals, L.P. (NYSE:BSM) Shares Purchased by Horizon Kinetics Asset Management LLC

Horizon Kinetics Asset Management LLC grew its position in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 65.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 275,638 shares of the oil and gas producer’s stock after buying an additional 109,500 shares during the quarter. Horizon Kinetics Asset Management LLC’s holdings in Black Stone Minerals were worth $4,162,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Fiducient Advisors LLC purchased a new stake in shares of Black Stone Minerals during the 3rd quarter worth approximately $12,253,000. Magnolia Capital Advisors LLC acquired a new stake in shares of Black Stone Minerals during the second quarter worth $2,480,000. International Assets Investment Management LLC purchased a new stake in shares of Black Stone Minerals in the third quarter valued at $8,240,000. Prevail Innovative Wealth Advisors LLC increased its stake in Black Stone Minerals by 25.7% in the second quarter. Prevail Innovative Wealth Advisors LLC now owns 201,336 shares of the oil and gas producer’s stock valued at $3,155,000 after purchasing an additional 41,136 shares during the last quarter. Finally, ING Groep NV lifted its position in Black Stone Minerals by 5.9% during the third quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer’s stock worth $9,859,000 after buying an additional 36,300 shares during the period. Institutional investors and hedge funds own 14.49% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on BSM. StockNews.com downgraded shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research note on Friday. Piper Sandler dropped their price target on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, November 18th.

Black Stone Minerals Stock Up 0.3 %

Shares of BSM stock opened at $15.60 on Monday. Black Stone Minerals, L.P. has a fifty-two week low of $13.94 and a fifty-two week high of $17.80. The firm’s 50 day moving average price is $15.05 and its two-hundred day moving average price is $15.25. The stock has a market cap of $3.29 billion, a price-to-earnings ratio of 9.63 and a beta of 0.94.

Black Stone Minerals (NYSE:BSM) last announced its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. The business had revenue of $134.86 million for the quarter, compared to the consensus estimate of $117.68 million. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. During the same period last year, the business posted $0.27 EPS. On average, equities analysts forecast that Black Stone Minerals, L.P. will post 1.32 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a $0.375 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.50 annualized dividend and a dividend yield of 9.62%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 92.59%.

Insider Activity at Black Stone Minerals

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $14.12 per share, for a total transaction of $1,412,000.00. Following the purchase, the chief executive officer now directly owns 3,133,128 shares in the company, valued at $44,239,767.36. This trade represents a 3.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 18.60% of the company’s stock.

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 1.8 million gross acres, and overriding royalty interests in 1.6 million gross acres located in 41 states in the United States.