54,556 Shares in Black Stone Minerals, L.P. (NYSE:BSM) Acquired by International Assets Investment Management LLC

International Assets Investment Management LLC purchased a new stake in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 54,556 shares of the oil and gas producer's stock, valued at approximately $8,240,000.

A number of other hedge funds have also made changes to their positions in BSM. Avidian Wealth Solutions LLC acquired a new position in shares of Black Stone Minerals during the 1st quarter worth approximately $439,000. ORG Partners LLC acquired a new position in shares of Black Stone Minerals in the first quarter worth $224,000. SG Americas Securities LLC purchased a new stake in shares of Black Stone Minerals in the first quarter valued at $102,000. Hilltop National Bank acquired a new stake in shares of Black Stone Minerals during the first quarter valued at $177,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in Black Stone Minerals during the 1st quarter worth about $290,000. Hedge funds and other institutional investors own 14.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on BSM shares. Piper Sandler decreased 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 research note on Thursday, August 15th. StockNews.com raised shares of Black Stone Minerals from a "hold" rating to a "buy" rating in a research note on Tuesday, August 6th.

Black Stone Minerals Stock Performance

BSM traded up $0.10 on Friday, reaching $14.86. 290,511 shares of the company's stock were exchanged, compared to its average volume of 439,870. The company's 50 day moving average is $14.88 and its 200-day moving average is $15.35. Black Stone Minerals, L.P. has a twelve month low of $13.94 and a twelve month high of $18.55. The company has a market cap of $3.35 billion, a price-to-earnings ratio of 9.96 and a beta of 0.93.

Black Stone Minerals (NYSE:BSM - Get Free Report) last announced its earnings results on Monday, August 5th. The oil and gas producer reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.08). The firm had revenue of $109.62 million during the quarter, compared to analysts' expectations of $124.24 million. Black Stone Minerals had a net margin of 64.88% and a return on equity of 37.93%. During the same quarter last year, the company posted $0.35 earnings per share. Sell-side analysts forecast that Black Stone Minerals, L.P. will post 1.27 EPS for the current 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 given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.09%. The ex-dividend date is Friday, November 8th. Black Stone Minerals's payout ratio is 101.35%.

Insider Activity

In other news, SVP Carrie Pearson Clark sold 18,532 shares of the company's 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 in the company, valued at approximately $1,735,137.32. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Black Stone Minerals news, Director D Mark Dewalch acquired 34,200 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $14.62 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the director now directly owns 357,005 shares in the company, valued at $5,219,413.10. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Carrie Pearson Clark sold 18,532 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $14.84, for a total value of $275,014.88. Following the completion of the transaction, the senior vice president now directly owns 116,923 shares of the company's stock, valued at approximately $1,735,137.32. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.