Grandfield & Dodd LLC Acquires New Stake in Black Stone Minerals, L.P. $BSM

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

Several other institutional investors have also added to or reduced their stakes in BSM. Kingstone Capital Partners Texas LLC purchased a new position in shares of Black Stone Minerals in the 2nd quarter worth $175,721,000. Investment Management Associates Inc. ADV increased its position in Black Stone Minerals by 2.8% during the second quarter. Investment Management Associates Inc. ADV now owns 1,577,887 shares of the oil and gas producer’s stock valued at $20,639,000 after acquiring an additional 42,553 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Black Stone Minerals by 3,141.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 913,495 shares of the oil and gas producer’s stock worth $13,949,000 after purchasing an additional 885,311 shares during the last quarter. Kempner Capital Management Inc. grew its stake in Black Stone Minerals by 52.3% in the second quarter. Kempner Capital Management Inc. now owns 759,343 shares of the oil and gas producer’s stock worth $9,932,000 after purchasing an additional 260,727 shares in the last quarter. Finally, GraniteShares Advisors LLC grew its position in shares of Black Stone Minerals by 6.7% during the 2nd quarter. GraniteShares Advisors LLC now owns 191,917 shares of the oil and gas producer’s stock worth $2,510,000 after buying an additional 11,990 shares in the last quarter. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Insider Buying and Selling at Black Stone Minerals

In other news, CEO Thomas L. Carter, Jr. bought 14,000 shares of the firm’s stock in a transaction that occurred on Friday, September 12th. The stock was purchased at an average cost of $12.59 per share, with a total value of $176,260.00. Following the transaction, the chief executive officer directly owned 3,512,701 shares in the company, valued at $44,224,905.59. This trade represents a 0.40% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last ninety days, insiders bought 81,670 shares of company stock valued at $990,947. 17.80% of the stock is currently owned by insiders.

Black Stone Minerals Price Performance

BSM stock opened at $13.65 on Friday. Black Stone Minerals, L.P. has a 1 year low of $11.78 and a 1 year high of $15.66. The firm has a market capitalization of $2.89 billion, a P/E ratio of 11.76 and a beta of 0.23. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.22 and a quick ratio of 3.22. The business’s 50-day moving average is $12.99 and its two-hundred day moving average is $13.03.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.40 earnings per share 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 business had revenue of $132.47 million during the quarter, compared to the consensus estimate of $106.20 million. Analysts anticipate that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 13th. Stockholders of record on Thursday, November 6th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, November 6th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 8.8%. Black Stone Minerals’s payout ratio is 104.35%.

Wall Street Analyst Weigh In

BSM has been the subject of a number of research reports. Zacks Research raised Black Stone Minerals from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Piper Sandler cut their price objective on shares of Black Stone Minerals from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, August 14th. Weiss Ratings downgraded Black Stone Minerals from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday. Finally, KeyCorp restated a “sector weight” rating on shares of Black Stone Minerals in a research report on Tuesday, November 4th. Four analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Black Stone Minerals currently has a consensus rating of “Reduce” and a consensus target price of $13.00.

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.