30,382 Shares in Black Stone Minerals, L.P. $BSM Bought by Grandfield & Dodd LLC

Grandfield & Dodd LLC acquired a new position in shares of Black Stone Minerals, L.P. (NYSE:BSM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 30,382 shares of the oil and gas producer’s stock, valued at approximately $397,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Guardian Wealth Management Inc. increased its stake in shares of Black Stone Minerals by 14.9% during the first quarter. Guardian Wealth Management Inc. now owns 12,010 shares of the oil and gas producer’s stock worth $183,000 after acquiring an additional 1,553 shares during the period. Cetera Investment Advisers raised its stake in shares of Black Stone Minerals by 179.8% during the 1st quarter. Cetera Investment Advisers now owns 72,803 shares of the oil and gas producer’s stock worth $1,112,000 after buying an additional 46,782 shares in the last quarter. LPL Financial LLC raised its stake in shares of Black Stone Minerals by 8.4% during the 1st quarter. LPL Financial LLC now owns 147,506 shares of the oil and gas producer’s stock worth $2,252,000 after buying an additional 11,430 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in Black Stone Minerals during the first quarter worth $29,000. Finally, AlphaCore Capital LLC raised its position in Black Stone Minerals by 34.9% in the first quarter. AlphaCore Capital LLC now owns 78,980 shares of the oil and gas producer’s stock worth $1,206,000 after acquiring an additional 20,430 shares in the last quarter. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Stock Down 0.8%

Shares of NYSE:BSM opened at $13.65 on Friday. The company has a 50 day moving average of $12.99 and a two-hundred day moving average of $13.03. Black Stone Minerals, L.P. has a 52-week low of $11.78 and a 52-week high of $15.66. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $2.89 billion, a price-to-earnings ratio of 11.76 and a beta of 0.23.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.12. Black Stone Minerals had a net margin of 61.21% and a return on equity of 39.67%. The firm had revenue of $132.47 million for the quarter, compared to the consensus estimate of $106.20 million. As a group, analysts forecast that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current fiscal year.

Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 13th. Investors of record on Thursday, November 6th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 6th. This represents a $1.20 annualized dividend and a yield of 8.8%. Black Stone Minerals’s dividend payout ratio is presently 104.35%.

Insiders Place Their Bets

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. acquired 14,000 shares of Black Stone Minerals stock in a transaction dated Friday, September 12th. The stock was bought at an average price of $12.59 per share, for a total transaction of $176,260.00. Following the transaction, the chief executive officer owned 3,512,701 shares in the company, valued at approximately $44,224,905.59. This trade represents a 0.40% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders purchased 81,670 shares of company stock valued at $990,947 in the last three months. Corporate insiders own 17.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BSM. Piper Sandler lowered their price target on Black Stone Minerals from $14.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, August 14th. Weiss Ratings downgraded shares of Black Stone Minerals from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. KeyCorp restated a “sector weight” rating on shares of Black Stone Minerals in a research report on Tuesday, November 4th. Finally, Zacks Research raised Black Stone Minerals from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Four investment analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Black Stone Minerals has a consensus rating of “Reduce” and an average target price of $13.00.

About Black Stone Minerals

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.