Cibc World Market Inc. Decreases Stake in Black Stone Minerals, L.P. (NYSE:BSM)

Cibc World Market Inc. trimmed its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSMGet Rating) by 50.0% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,260 shares of the oil and gas producer’s stock after selling 15,260 shares during the quarter. Cibc World Market Inc.’s holdings in Black Stone Minerals were worth $209,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Commonwealth Equity Services LLC acquired a new position in shares of Black Stone Minerals in the 1st quarter valued at approximately $188,000. Russell Investments Group Ltd. raised its holdings in Black Stone Minerals by 399.5% in the first quarter. Russell Investments Group Ltd. now owns 26,481 shares of the oil and gas producer’s stock valued at $354,000 after acquiring an additional 21,180 shares in the last quarter. Brown Advisory Inc. boosted its stake in Black Stone Minerals by 1.0% during the 1st quarter. Brown Advisory Inc. now owns 1,274,993 shares of the oil and gas producer’s stock valued at $16,061,000 after acquiring an additional 12,088 shares during the last quarter. Cullen Frost Bankers Inc. grew its holdings in Black Stone Minerals by 7.6% during the 1st quarter. Cullen Frost Bankers Inc. now owns 74,192 shares of the oil and gas producer’s stock worth $999,000 after acquiring an additional 5,238 shares in the last quarter. Finally, Doliver Advisors LP increased its position in shares of Black Stone Minerals by 22.2% in the 1st quarter. Doliver Advisors LP now owns 23,124 shares of the oil and gas producer’s stock worth $311,000 after purchasing an additional 4,200 shares during the last quarter. Institutional investors and hedge funds own 15.06% of the company’s stock.

Analyst Ratings Changes

BSM has been the topic of several research analyst reports. Piper Sandler increased their price target on shares of Black Stone Minerals from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Thursday, November 17th. KeyCorp initiated coverage on Black Stone Minerals in a research report on Monday, September 19th. They issued an “overweight” rating and a $22.00 target price for the company. TheStreet raised Black Stone Minerals from a “c+” rating to a “b” rating in a research report on Friday, September 2nd. Finally, StockNews.com began coverage on shares of Black Stone Minerals in a report on Wednesday, October 12th. They issued a “buy” rating for the company. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $20.50.

Black Stone Minerals Trading Down 0.9 %

NYSE:BSM opened at $18.25 on Friday. Black Stone Minerals, L.P. has a 12-month low of $9.70 and a 12-month high of $20.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 2.25 and a quick ratio of 2.25. The business has a 50 day simple moving average of $17.46 and a 200 day simple moving average of $15.94. The firm has a market capitalization of $3.82 billion, a P/E ratio of 9.71 and a beta of 1.05.

Black Stone Minerals Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Stockholders of record on Thursday, November 10th were issued a dividend of $0.45 per share. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.42. The ex-dividend date was Wednesday, November 9th. This represents a $1.80 annualized dividend and a dividend yield of 9.86%. Black Stone Minerals’s payout ratio is 95.75%.

Insider Transactions at Black Stone Minerals

In other Black Stone Minerals news, CAO Dawn Smajstrla sold 5,300 shares of the business’s stock in a transaction dated Friday, November 4th. The shares were sold at an average price of $19.41, for a total transaction of $102,873.00. Following the completion of the transaction, the chief accounting officer now directly owns 78,348 shares of the company’s stock, valued at approximately $1,520,734.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Dawn Smajstrla sold 5,300 shares of the firm’s stock in a transaction that occurred on Friday, November 4th. The stock was sold at an average price of $19.41, for a total value of $102,873.00. Following the sale, the chief accounting officer now directly owns 78,348 shares in the company, valued at approximately $1,520,734.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas L. Carter, Jr. bought 25,000 shares of the business’s stock in a transaction on Monday, September 12th. The shares were acquired at an average cost of $16.27 per share, for a total transaction of $406,750.00. Following the purchase, the chief executive officer now directly owns 2,223,012 shares in the company, valued at $36,168,405.24. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 75,000 shares of company stock worth $1,298,000. Insiders own 21.10% of the company’s stock.

Black Stone Minerals Company Profile

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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 1.7 million gross acres located in 41 states in the United States.

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Institutional Ownership by Quarter for Black Stone Minerals (NYSE:BSM)

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