ING Groep NV Has $9.86 Million Stake in Black Stone Minerals, L.P. (NYSE:BSM)

ING Groep NV lifted its position in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 5.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 652,900 shares of the oil and gas producer's stock after buying an additional 36,300 shares during the period. ING Groep NV owned about 0.29% of Black Stone Minerals worth $9,859,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. Summit Securities Group LLC bought a new stake in shares of Black Stone Minerals in the second quarter worth about $74,000. SG Americas Securities LLC bought a new stake in Black Stone Minerals during the 1st quarter worth approximately $102,000. Financial Advocates Investment Management acquired a new stake in Black Stone Minerals during the 2nd quarter worth approximately $159,000. Choreo LLC bought a new position in Black Stone Minerals in the second quarter valued at approximately $205,000. Finally, BCS Wealth Management lifted its stake in 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 valued at $213,000 after buying an additional 1,852 shares in the last quarter. Institutional investors and hedge funds own 14.49% of the company's stock.

Black Stone Minerals Trading Down 0.8 %

Shares of NYSE BSM traded down $0.13 during midday trading on Friday, reaching $15.21. The company's stock had a trading volume of 353,091 shares, compared to its average volume of 445,237. The stock has a 50 day simple moving average of $14.95 and a 200-day simple moving average of $15.31. The stock has a market capitalization of $3.43 billion, a price-to-earnings ratio of 9.40 and a beta of 0.94. Black Stone Minerals, L.P. has a fifty-two week low of $13.94 and a fifty-two week high of $17.80.

Black Stone Minerals (NYSE:BSM - Get Free Report) last released its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating analysts' consensus estimates of $0.35 by $0.06. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The business had revenue of $134.86 million during the quarter, compared to the consensus estimate of $117.68 million. During the same quarter last year, the firm earned $0.27 earnings per share. As a group, equities analysts anticipate that Black Stone Minerals, L.P. will post 1.32 EPS for the current year.

Black Stone Minerals Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 9.86%. The ex-dividend date of this dividend is Friday, November 8th. Black Stone Minerals's dividend payout ratio (DPR) is 92.59%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BSM. StockNews.com upgraded shares of Black Stone Minerals from a "hold" rating to a "buy" rating in a report on Thursday. Piper Sandler dropped their price target on Black Stone Minerals from $17.00 to $15.00 and set a "neutral" rating on the stock in a research note on Thursday, August 15th.

Insider Transactions at Black Stone Minerals

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the company's stock in a transaction that occurred on Friday, September 6th. The shares were acquired 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 owns 3,133,128 shares in the company, valued at approximately $44,239,767.36. The trade was a 3.30 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction on Monday, August 26th. The stock was sold at an average price of $14.84, for a total transaction of $275,014.88. Following the transaction, the senior vice president now directly owns 116,923 shares of the company's stock, valued at approximately $1,735,137.32. This trade represents a 13.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.