Black Stone Minerals LP (NYSE:BSM) CEO Thomas L. Carter, Jr. acquired 14,000 shares of the firm’s stock in a transaction on Wednesday, November 16th. The shares were bought at an average cost of $17.94 per share, for a total transaction of $251,160.00. Following the completion of the acquisition, the chief executive officer now directly owns 491,506 shares of the company’s stock, valued at approximately $8,817,617.64. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Black Stone Minerals LP (NYSE:BSM) opened at 18.26 on Friday. The firm’s market capitalization is $3.49 billion. Black Stone Minerals LP has a one year low of $10.71 and a one year high of $19.65. The stock has a 50 day moving average price of $17.84 and a 200 day moving average price of $16.49.

Insider Buying and Selling by Quarter for Black Stone Minerals (NYSE:BSM)

The business also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Thursday, November 17th will be issued a $0.2875 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $1.15 annualized dividend and a yield of 6.30%. Black Stone Minerals’s dividend payout ratio is currently -958.25%.

A number of research firms have weighed in on BSM. Stifel Nicolaus lifted their price objective on Black Stone Minerals from $19.00 to $20.00 and gave the company a “buy” rating in a report on Wednesday, November 9th. Zacks Investment Research raised Black Stone Minerals from a “sell” rating to a “hold” rating in a report on Thursday, August 18th. Finally, Barclays PLC lifted their price objective on Black Stone Minerals from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Tuesday, August 16th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Energy Opportunities Capital Management LLC bought a new position in Black Stone Minerals during the third quarter valued at $1,088,000. Morgan Stanley boosted its position in Black Stone Minerals by 55.3% in the third quarter. Morgan Stanley now owns 1,641,299 shares of the company’s stock valued at $29,231,000 after buying an additional 584,503 shares in the last quarter. BB&T Securities LLC bought a new position in Black Stone Minerals during the third quarter valued at $244,000. Emerald Acquisition Ltd. bought a new position in Black Stone Minerals during the third quarter valued at $1,352,000. Finally, SG Americas Securities LLC boosted its position in Black Stone Minerals by 8.9% in the third quarter. SG Americas Securities LLC now owns 144,259 shares of the company’s stock valued at $2,569,000 after buying an additional 11,771 shares in the last quarter. 16.58% of the stock is currently owned by hedge funds and other institutional investors.

Black Stone Minerals Company Profile

Black Stone Minerals, L.P. is an owner of oil and natural gas mineral interests in the United States. The Company’s principal business is managing its existing portfolio of mineral and royalty assets to maximize its value and expanding its asset base through acquisitions of additional mineral and royalty interests.

5 Day Chart for NYSE:BSM

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