Black Stone Minerals LP (NYSE:BSM) CEO Thomas L. Carter, Jr. acquired 3,000 shares of the firm’s stock in a transaction dated Thursday, November 17th. The stock was purchased at an average cost of $18.21 per share, with a total value of $54,630.00. Following the transaction, the chief executive officer now owns 502,506 shares in the company, valued at $9,150,634.26. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Shares of Black Stone Minerals LP (NYSE:BSM) opened at 18.88 on Tuesday. The company’s market cap is $3.60 billion. The company’s 50 day moving average is $17.89 and its 200 day moving average is $16.53. Black Stone Minerals LP has a one year low of $10.71 and a one year high of $19.65.

The business also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Thursday, November 17th will be paid a dividend of $0.2875 per share. This represents a $1.15 annualized dividend and a yield of 6.09%. The ex-dividend date of this dividend is Tuesday, November 15th. Black Stone Minerals’s dividend payout ratio is presently -958.25%.

Hedge funds and other institutional investors have recently modified their holdings of the company. A.R.T. Advisors LLC acquired a new position in Black Stone Minerals during the second quarter worth $172,000. Clear Harbor Asset Management LLC acquired a new position in Black Stone Minerals during the third quarter worth $178,000. BB&T Securities LLC acquired a new position in Black Stone Minerals during the third quarter worth $244,000. Global X Management Co. LLC acquired a new position in Black Stone Minerals during the second quarter worth $333,000. Finally, Bank of Montreal Can acquired a new position in Black Stone Minerals during the second quarter worth $412,000. 16.66% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently commented on BSM shares. Zacks Investment Research raised shares of Black Stone Minerals from a “sell” rating to a “hold” rating in a research report on Friday, August 12th. Barclays PLC lifted their price objective 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. Finally, Stifel Nicolaus started coverage on shares of Black Stone Minerals in a research report on Tuesday, September 6th. They issued a “buy” rating and a $19.00 price objective for the company.

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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