LPL Financial LLC Purchases 11,430 Shares of Black Stone Minerals, L.P. $BSM

LPL Financial LLC boosted its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 8.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 147,506 shares of the oil and gas producer’s stock after buying an additional 11,430 shares during the period. LPL Financial LLC owned about 0.07% of Black Stone Minerals worth $2,252,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. NBC Securities Inc. increased its position in shares of Black Stone Minerals by 202,400.0% during the 1st quarter. NBC Securities Inc. now owns 2,025 shares of the oil and gas producer’s stock worth $30,000 after purchasing an additional 2,024 shares in the last quarter. North Capital Inc. acquired a new position in shares of Black Stone Minerals in the 1st quarter valued at approximately $46,000. State of Wyoming acquired a new position in Black Stone Minerals in the 4th quarter worth $107,000. Exchange Traded Concepts LLC grew its holdings in shares of Black Stone Minerals by 1,258.8% during the first quarter. Exchange Traded Concepts LLC now owns 7,623 shares of the oil and gas producer’s stock worth $116,000 after buying an additional 7,062 shares in the last quarter. Finally, Virtus ETF Advisers LLC increased its position in shares of Black Stone Minerals by 14.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 11,838 shares of the oil and gas producer’s stock valued at $173,000 after acquiring an additional 1,463 shares during the last quarter. 14.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Carrie Pearson Clark sold 36,900 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $13.56, for a total value of $500,364.00. Following the completion of the sale, the senior vice president owned 165,857 shares in the company, valued at $2,249,020.92. This represents a 18.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas L. Carter, Jr. acquired 9,200 shares of the business’s stock in a transaction on Tuesday, August 12th. The stock was acquired at an average cost of $12.36 per share, for a total transaction of $113,712.00. Following the transaction, the chief executive officer owned 3,431,031 shares of the company’s stock, valued at approximately $42,407,543.16. The trade was a 0.27% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 95,910 shares of company stock valued at $1,189,002 over the last three months. Corporate insiders own 17.80% of the company’s stock.

Black Stone Minerals Trading Down 2.6%

BSM opened at $11.96 on Tuesday. The company’s 50 day moving average price is $12.85 and its two-hundred day moving average price is $13.88. Black Stone Minerals, L.P. has a fifty-two week low of $11.94 and a fifty-two week high of $15.66. The firm has a market capitalization of $2.53 billion, a price-to-earnings ratio of 10.31 and a beta of 0.28. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.22 and a quick ratio of 3.22.

Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, August 4th. The oil and gas producer reported $0.53 EPS for the quarter, topping the consensus estimate of $0.30 by $0.23. Black Stone Minerals had a return on equity of 39.67% and a net margin of 61.21%. The business had revenue of $159.49 million during the quarter, compared to analysts’ expectations of $112.19 million. As a group, research analysts predict that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 10.0%. Black Stone Minerals’s dividend payout ratio is currently 103.45%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BSM shares. Wall Street Zen cut Black Stone Minerals from a “buy” rating to a “hold” rating in a research note on Thursday, May 15th. Piper Sandler lowered their price objective on shares of Black Stone Minerals from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, August 14th.

Black Stone Minerals Profile

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.