10,113 Shares in Black Stone Minerals, L.P. $BSM Acquired by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. purchased a new position in shares of Black Stone Minerals, L.P. (NYSE:BSM) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,113 shares of the oil and gas producer’s stock, valued at approximately $132,000.

Other institutional investors also recently bought and sold shares of the company. SVB Wealth LLC purchased a new position in Black Stone Minerals during the 1st quarter worth approximately $25,000. PNC Financial Services Group Inc. purchased a new position in Black Stone Minerals during the 1st quarter worth approximately $29,000. North Capital Inc. purchased a new position in Black Stone Minerals during the 1st quarter worth approximately $46,000. Wealth Enhancement Advisory Services LLC purchased a new position in Black Stone Minerals during the 2nd quarter worth approximately $135,000. Finally, Redhawk Wealth Advisors Inc. purchased a new position in Black Stone Minerals during the 2nd quarter worth approximately $137,000. 14.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on BSM. Weiss Ratings reissued a “hold (c-)” rating on shares of Black Stone Minerals in a research report on Friday. Piper Sandler cut their target price on shares of Black Stone Minerals from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, August 14th. Finally, Zacks Research raised shares of Black Stone Minerals from a “strong sell” rating to a “hold” rating in a report on Monday, October 13th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Black Stone Minerals currently has an average rating of “Hold” and a consensus price target of $13.00.

Insider Activity at Black Stone Minerals

In related news, CEO Thomas L. Carter, Jr. purchased 27,500 shares of Black Stone Minerals stock in a transaction dated Friday, August 8th. The shares were acquired at an average price of $12.20 per share, for a total transaction of $335,500.00. Following the acquisition, the chief executive officer directly owned 3,396,831 shares in the company, valued at approximately $41,441,338.20. The trade was a 0.82% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In the last 90 days, insiders acquired 163,080 shares of company stock worth $1,983,910. 17.80% of the stock is owned by insiders.

Black Stone Minerals Price Performance

Black Stone Minerals stock opened at $12.96 on Monday. The company’s fifty day moving average price is $12.66 and its 200 day moving average price is $13.12. Black Stone Minerals, L.P. has a 1 year low of $11.78 and a 1 year high of $15.66. The stock has a market capitalization of $2.75 billion, a P/E ratio of 11.17 and a beta of 0.24. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.22 and a current ratio of 3.22.

Black Stone Minerals (NYSE:BSM) last announced its earnings results on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.23. Black Stone Minerals had a net margin of 61.21% and a return on equity of 39.67%. The company had revenue of $159.49 million for the quarter, compared to analysts’ expectations of $112.19 million. As a group, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Thursday, November 13th. Stockholders of record on Thursday, November 6th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 9.3%. The ex-dividend date is Thursday, November 6th. Black Stone Minerals’s payout ratio is currently 103.45%.

Black Stone Minerals Company 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.