Raymond James & Associates Sells 108,953 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Raymond James & Associates reduced its stake in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 33.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 218,770 shares of the oil and gas producer's stock after selling 108,953 shares during the period. Raymond James & Associates owned approximately 0.10% of Black Stone Minerals worth $3,303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of BSM. Prevail Innovative Wealth Advisors LLC acquired a new stake in shares of Black Stone Minerals during the 1st quarter worth about $2,560,000. Magnolia Capital Advisors LLC acquired a new position in shares of Black Stone Minerals during the second quarter worth approximately $2,480,000. Texas Capital Bank Wealth Management Services Inc grew its stake in shares of Black Stone Minerals by 200.0% during the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 60,000 shares of the oil and gas producer's stock valued at $959,000 after purchasing an additional 40,000 shares during the last quarter. Avidian Wealth Solutions LLC acquired a new stake in shares of Black Stone Minerals in the first quarter valued at approximately $439,000. Finally, Cypress Wealth Services LLC bought a new position in Black Stone Minerals in the 3rd quarter worth approximately $324,000. 14.49% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other 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 acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the firm's stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average cost of $14.12 per share, for a total transaction of $1,412,000.00. Following the transaction, the chief executive officer now owns 3,133,128 shares of the company's stock, valued at $44,239,767.36. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director D Mark Dewalch bought 34,200 shares of the company's stock in a transaction on Thursday, August 15th. The shares were bought at an average price of $14.62 per share, for a total transaction of $500,004.00. Following the completion of the acquisition, the director now directly owns 357,005 shares in the company, valued at approximately $5,219,413.10. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 18.60% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on BSM shares. Piper Sandler lowered their target price on Black Stone Minerals from $17.00 to $15.00 and set a "neutral" rating for the company in a research note on Thursday, August 15th. StockNews.com upgraded Black Stone Minerals from a "hold" rating to a "buy" rating in a research report on Tuesday, August 6th.

Black Stone Minerals Stock Performance

BSM traded up $0.07 during trading on Monday, reaching $14.94. 335,533 shares of the company's stock were exchanged, compared to its average volume of 439,540. The company's fifty day moving average price is $14.89 and its 200-day moving average price is $15.34. The firm has a market capitalization of $3.37 billion, a PE ratio of 10.10 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 $18.55.

Black Stone Minerals (NYSE:BSM - Get Free Report) last posted its earnings results on Monday, August 5th. The oil and gas producer reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.08). The company had revenue of $109.62 million for the quarter, compared to analyst estimates of $124.24 million. Black Stone Minerals had a return on equity of 37.93% and a net margin of 64.88%. During the same quarter in the previous year, the firm posted $0.35 earnings per share. Research analysts forecast that Black Stone Minerals, L.P. will post 1.27 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The company 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 $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 10.04%. The ex-dividend date is Friday, November 8th. Black Stone Minerals's payout ratio is presently 101.35%.

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.