Investment Management Associates Inc. ADV Sells 51,226 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Investment Management Associates Inc. ADV reduced its position in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 4.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,180,220 shares of the oil and gas producer's stock after selling 51,226 shares during the period. Black Stone Minerals comprises approximately 7.0% of Investment Management Associates Inc. ADV's holdings, making the stock its 4th biggest holding. Investment Management Associates Inc. ADV owned 0.52% of Black Stone Minerals worth $17,821,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Summit Securities Group LLC bought a new position in shares of Black Stone Minerals during the 2nd quarter worth about $74,000. SG Americas Securities LLC acquired a new position in shares of Black Stone Minerals in the first quarter valued at $102,000. Financial Advocates Investment Management bought a new stake in Black Stone Minerals during the second quarter worth about $159,000. Choreo LLC bought a new stake in Black Stone Minerals during the second quarter worth about $205,000. Finally, BCS Wealth Management lifted its holdings in shares of Black Stone Minerals by 15.1% in the third quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer's stock worth $213,000 after acquiring an additional 1,852 shares during the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler cut their price target on shares of Black Stone Minerals from $17.00 to $15.00 and set a "neutral" rating on the stock in a report on Thursday, August 15th. StockNews.com cut Black Stone Minerals from a "buy" rating to a "hold" rating in a research report on Wednesday, November 6th.

Black Stone Minerals Price Performance

NYSE:BSM traded up $0.08 during trading hours on Tuesday, reaching $15.05. The company's stock had a trading volume of 363,170 shares, compared to its average volume of 446,004. The business's 50-day moving average is $14.91 and its 200-day moving average is $15.31. The company has a market cap of $3.39 billion, a price-to-earnings ratio of 9.26 and a beta of 0.94. Black Stone Minerals, L.P. has a one year low of $13.94 and a one year high of $17.80.

Black Stone Minerals (NYSE:BSM - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $134.86 million during the quarter, compared to the consensus estimate of $117.68 million. During the same period in the previous year, the company posted $0.27 EPS. On average, sell-side analysts predict that Black Stone Minerals, L.P. will post 1.32 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.50 annualized dividend and a yield of 9.97%. Black Stone Minerals's dividend payout ratio is 92.59%.

Insider Activity

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of Black Stone Minerals stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,133,128 shares of the company's stock, valued at approximately $44,239,767.36. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $14.84, for a total value of $275,014.88. Following the sale, the senior vice president now owns 116,923 shares of the company's stock, valued at $1,735,137.32. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas L. Carter, Jr. acquired 100,000 shares of Black Stone Minerals stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost 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 of the company's stock, valued at approximately $44,239,767.36. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 18.60% of the company's stock.

Black Stone Minerals Company 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.