Truist Financial Corp Reduces Position in Black Stone Minerals, L.P. (NYSE:BSM)

Truist Financial Corp lessened its stake in shares of Black Stone Minerals, L.P. (NYSE:BSMFree Report) by 2.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,468 shares of the oil and gas producer’s stock after selling 1,000 shares during the quarter. Truist Financial Corp’s holdings in Black Stone Minerals were worth $775,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in BSM. Magnolia Capital Advisors LLC purchased a new stake in shares of Black Stone Minerals in the second quarter valued at $2,480,000. Evergreen Capital Management LLC boosted its position in shares of Black Stone Minerals by 61.1% in the second quarter. Evergreen Capital Management LLC now owns 54,156 shares of the oil and gas producer’s stock worth $849,000 after acquiring an additional 20,545 shares during the last quarter. MAS Advisors LLC boosted its holdings in shares of Black Stone Minerals by 5.4% in the 2nd quarter. MAS Advisors LLC now owns 29,179 shares of the oil and gas producer’s stock valued at $457,000 after purchasing an additional 1,506 shares during the last quarter. Prevail Innovative Wealth Advisors LLC increased its holdings in shares of Black Stone Minerals by 25.7% during the 2nd quarter. Prevail Innovative Wealth Advisors LLC now owns 201,336 shares of the oil and gas producer’s stock worth $3,155,000 after buying an additional 41,136 shares during the last quarter. Finally, Bahl & Gaynor Inc. raised its position in shares of Black Stone Minerals by 29.6% in the 2nd quarter. Bahl & Gaynor Inc. now owns 17,500 shares of the oil and gas producer’s stock worth $274,000 after buying an additional 4,000 shares during the period. Institutional investors and hedge funds own 14.49% of the company’s stock.

Black Stone Minerals Stock Performance

Black Stone Minerals stock opened at $15.06 on Tuesday. The firm has a market capitalization of $3.17 billion, a PE ratio of 9.78 and a beta of 0.93. The stock’s 50 day moving average price is $14.81 and its 200 day moving average price is $15.47. Black Stone Minerals, L.P. has a one year low of $13.94 and a one year high of $18.55.

Black Stone Minerals (NYSE:BSMGet Free Report) last issued its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). The company had revenue of $109.62 million during the quarter, compared to the consensus estimate of $124.24 million. Black Stone Minerals had a return on equity of 37.93% and a net margin of 64.88%. During the same quarter last year, the firm posted $0.35 EPS. On average, analysts forecast that Black Stone Minerals, L.P. will post 1.31 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were issued a $0.375 dividend. The ex-dividend date was Friday, August 9th. This represents a $1.50 dividend on an annualized basis and a yield of 9.96%. Black Stone Minerals’s dividend payout ratio is currently 97.40%.

Insider Buying and Selling at Black Stone Minerals

In other news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $14.12 per share, for a total transaction of $1,412,000.00. Following the transaction, the chief executive officer now directly owns 3,133,128 shares in the company, valued at $44,239,767.36. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Thomas L. Carter, Jr. bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the completion of the purchase, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. This represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Carrie Pearson Clark sold 18,532 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $14.84, for a total transaction of $275,014.88. Following the completion of the sale, the senior vice president now owns 116,923 shares in the company, valued at approximately $1,735,137.32. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 19.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BSM shares. StockNews.com upgraded Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Piper Sandler cut their price target on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Finally, KeyCorp started coverage on shares of Black Stone Minerals in a research report on Thursday, June 27th. They issued a “sector weight” rating for the company. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $17.50.

Check Out Our Latest Research Report on Black Stone Minerals

Black Stone Minerals Profile

(Free Report)

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.

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

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