Thomas L. Carter, Jr. Buys 13,000 Shares of Black Stone Minerals LP (BSM) Stock
Black Stone Minerals LP (NYSE:BSM) CEO Thomas L. Carter, Jr. purchased 13,000 shares of Black Stone Minerals stock in a transaction dated Monday, November 28th. The stock was bought at an average price of $18.93 per share, with a total value of $246,090.00. Following the completion of the transaction, the chief executive officer now owns 515,506 shares of the company’s stock, valued at approximately $9,758,528.58. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Black Stone Minerals LP (NYSE:BSM) traded down 2.64% during midday trading on Tuesday, reaching $18.41. The company’s stock had a trading volume of 108,092 shares. The company’s market cap is $3.51 billion. Black Stone Minerals LP has a 12 month low of $10.71 and a 12 month high of $19.65. The company’s 50-day moving average price is $18.02 and its 200-day moving average price is $16.60.
The company also recently declared a quarterly dividend, which was paid on Friday, November 25th. Stockholders of record on Thursday, November 17th were issued a dividend of $0.2875 per share. The ex-dividend date was Tuesday, November 15th. This represents a $1.15 annualized dividend and a dividend yield of 6.25%. Black Stone Minerals’s payout ratio is -958.25%.
Several equities research analysts recently issued reports on BSM shares. Zacks Investment Research raised Black Stone Minerals from a “sell” rating to a “hold” rating in a research note on Thursday, August 18th. Stifel Nicolaus started coverage on Black Stone Minerals in a research note on Tuesday, September 6th. They set a “buy” rating and a $19.00 price objective for the company. 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 research note on Tuesday, August 16th.
Several institutional investors have recently added to or reduced their stakes in BSM. Franklin Street Advisors Inc. NC boosted its position in Black Stone Minerals by 40.0% in the second quarter. Franklin Street Advisors Inc. NC now owns 28,000 shares of the company’s stock valued at $434,000 after buying an additional 8,000 shares during the last quarter. Lucas Capital Management boosted its position in Black Stone Minerals by 16.1% in the second quarter. Lucas Capital Management now owns 181,334 shares of the company’s stock valued at $2,811,000 after buying an additional 25,117 shares during the last quarter. Gruss & Co. Inc. boosted its position in Black Stone Minerals by 232.4% in the second quarter. Gruss & Co. Inc. now owns 232,656 shares of the company’s stock valued at $3,606,000 after buying an additional 162,656 shares during the last quarter. Board of Trustees of The Leland Stanford Junior University purchased a new position in Black Stone Minerals during the second quarter valued at $992,000. Finally, Global X Management Co. LLC purchased a new position in Black Stone Minerals during the second quarter valued at $333,000. 16.88% of the stock is currently owned by hedge funds and other institutional investors.
About Black Stone Minerals
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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