Black Stone Minerals LP (NYSE:BSM) CEO Thomas L. Carter, Jr. purchased 6,000 shares of Black Stone Minerals stock in a transaction dated Tuesday, November 15th. The shares were purchased at an average cost of $17.89 per share, for a total transaction of $107,340.00. Following the transaction, the chief executive officer now owns 491,506 shares in the company, valued at approximately $8,793,042.34. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Shares of Black Stone Minerals LP (NYSE:BSM) opened at 18.77 on Monday. The stock’s market cap is $3.58 billion. Black Stone Minerals LP has a 12 month low of $10.71 and a 12 month high of $19.65. The firm has a 50-day moving average price of $17.86 and a 200-day moving average price of $16.50.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Thursday, November 17th will be given a $0.2875 dividend. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $1.15 annualized dividend and a dividend yield of 6.13%. Black Stone Minerals’s dividend payout ratio is presently -958.25%.

Several analysts have recently commented on BSM shares. Stifel Nicolaus started coverage on shares of Black Stone Minerals in a research report on Tuesday, September 6th. They set a “buy” rating and a $19.00 price target on the stock. Zacks Investment Research raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating and set a $20.00 price target on the stock in a research report on Thursday, October 20th. Finally, Barclays PLC lifted their price target on shares of Black Stone Minerals from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Tuesday, August 16th.

Hedge funds have recently added to or reduced their stakes in the stock. Energy Opportunities Capital Management LLC acquired a new stake in Black Stone Minerals during the third quarter valued at approximately $1,088,000. Morgan Stanley raised its stake 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 acquired a new stake in Black Stone Minerals during the third quarter valued at approximately $244,000. Emerald Acquisition Ltd. acquired a new stake in Black Stone Minerals during the third quarter valued at approximately $1,352,000. Finally, SG Americas Securities LLC raised its stake 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. Institutional investors and hedge funds own 16.66% of the company’s stock.

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.

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