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

Horizon Kinetics Asset Management LLC raised its position in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 65.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 275,638 shares of the oil and gas producer's stock after acquiring an additional 109,500 shares during the quarter. Horizon Kinetics Asset Management LLC owned 0.12% of Black Stone Minerals worth $4,162,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Redhawk Wealth Advisors Inc. boosted its stake in shares of Black Stone Minerals by 10.1% during the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 16,005 shares of the oil and gas producer's stock valued at $242,000 after buying an additional 1,465 shares during the last quarter. MAS Advisors LLC boosted its stake in Black Stone Minerals by 5.4% during the 2nd quarter. MAS Advisors LLC now owns 29,179 shares of the oil and gas producer's stock valued at $457,000 after acquiring an additional 1,506 shares during the last quarter. BCS Wealth Management grew its holdings in Black Stone Minerals by 15.1% during the 3rd 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 in the last quarter. Moors & Cabot Inc. increased its position in shares of Black Stone Minerals by 3.3% in the 3rd quarter. Moors & Cabot Inc. now owns 93,450 shares of the oil and gas producer's stock worth $1,411,000 after purchasing an additional 3,000 shares during the last quarter. Finally, Larson Financial Group LLC acquired a new stake in shares of Black Stone Minerals in the 3rd quarter valued at about $54,000. Hedge funds and other institutional investors own 14.49% of the company's stock.

Wall Street Analyst Weigh In

BSM has been the subject of a number of research reports. StockNews.com downgraded Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Friday. Piper Sandler decreased their target price on 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 Performance

Shares of NYSE BSM traded down $0.18 during midday trading on Monday, hitting $15.38. The company's stock had a trading volume of 374,794 shares, compared to its average volume of 444,798. Black Stone Minerals, L.P. has a 1-year low of $13.94 and a 1-year high of $17.80. The firm's fifty day moving average price is $15.05 and its 200-day moving average price is $15.25. The firm has a market cap of $3.24 billion, a P/E ratio of 9.63 and a beta of 0.94.

Black Stone Minerals (NYSE:BSM - Get Free Report) last issued its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, beating analysts' consensus estimates of $0.35 by $0.06. The company had revenue of $134.86 million during 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 in the previous year, the firm posted $0.27 earnings per share. As a group, research analysts predict that Black Stone Minerals, L.P. will post 1.32 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 9.75%. The ex-dividend date of this dividend was Friday, November 8th. Black Stone Minerals's dividend payout ratio is presently 92.59%.

Insider Activity

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the firm's stock in a transaction dated 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 owns 3,133,128 shares in the company, valued at $44,239,767.36. This trade represents a 3.30 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 18.60% of the company's stock.

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.