Black Stone Minerals, L.P. (NYSE:BSM) Shares Purchased by Cadence Bank

Cadence Bank increased its stake in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 2.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,650 shares of the oil and gas producer’s stock after buying an additional 689 shares during the quarter. Cadence Bank’s holdings in Black Stone Minerals were worth $418,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in BSM. Horizon Kinetics Asset Management LLC boosted its position in shares of Black Stone Minerals by 65.9% during the 3rd quarter. Horizon Kinetics Asset Management LLC now owns 275,638 shares of the oil and gas producer’s stock valued at $4,162,000 after acquiring an additional 109,500 shares during the last quarter. Larson Financial Group LLC acquired a new position in Black Stone Minerals in the 3rd quarter valued at about $54,000. Citigroup Inc. boosted its holdings in Black Stone Minerals by 2.3% in the 3rd quarter. Citigroup Inc. now owns 470,915 shares of the oil and gas producer’s stock valued at $7,111,000 after purchasing an additional 10,465 shares during the last quarter. AlphaCore Capital LLC grew its stake in shares of Black Stone Minerals by 34.4% in the 3rd quarter. AlphaCore Capital LLC now owns 58,550 shares of the oil and gas producer’s stock valued at $884,000 after buying an additional 15,000 shares during the period. Finally, Moors & Cabot Inc. increased its holdings in shares of Black Stone Minerals by 3.3% during the 3rd quarter. Moors & Cabot Inc. now owns 93,450 shares of the oil and gas producer’s stock worth $1,411,000 after buying an additional 3,000 shares during the last quarter. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Black Stone Minerals

In related news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the completion of the transaction, the chief executive officer now owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. The trade was a 3.30 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 18.60% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. StockNews.com lowered Black Stone Minerals from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Piper Sandler decreased their price target on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th.

Black Stone Minerals Price Performance

Shares of BSM opened at $15.39 on Thursday. The firm has a 50-day simple moving average of $15.07 and a two-hundred day simple moving average of $15.24. The stock has a market cap of $3.24 billion, a PE ratio of 9.50 and a beta of 0.94. Black Stone Minerals, L.P. has a 1-year low of $13.94 and a 1-year high of $17.80.

Black Stone Minerals (NYSE:BSM) last announced its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. The company had revenue of $134.86 million for the quarter, compared to analyst estimates of $117.68 million. During the same quarter in the previous year, the company earned $0.27 earnings per share. As a group, sell-side analysts expect that Black Stone Minerals, L.P. will post 1.32 earnings per share for the current fiscal year.

Black Stone Minerals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a yield of 9.75%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 92.59%.

About Black Stone Minerals

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.