Navellier & Associates Inc. Boosts Stake in Black Stone Minerals, L.P. (NYSE:BSM)

Navellier & Associates Inc. raised its holdings in Black Stone Minerals, L.P. (NYSE:BSMGet Rating) by 2.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 44,473 shares of the oil and gas producer’s stock after purchasing an additional 1,206 shares during the quarter. Navellier & Associates Inc.’s holdings in Black Stone Minerals were worth $609,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brown Advisory Inc. raised its position in Black Stone Minerals by 1.0% in the first quarter. Brown Advisory Inc. now owns 1,274,993 shares of the oil and gas producer’s stock valued at $16,061,000 after purchasing an additional 12,088 shares during the period. SG Americas Securities LLC purchased a new stake in Black Stone Minerals in the second quarter valued at $363,000. Doliver Advisors LP raised its position in Black Stone Minerals by 22.2% in the first quarter. Doliver Advisors LP now owns 23,124 shares of the oil and gas producer’s stock valued at $311,000 after purchasing an additional 4,200 shares during the period. Cambridge Investment Research Advisors Inc. raised its position in Black Stone Minerals by 4.0% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 388,864 shares of the oil and gas producer’s stock valued at $5,324,000 after purchasing an additional 14,873 shares during the period. Finally, Investment Management Associates Inc. ADV raised its position in Black Stone Minerals by 25.5% in the second quarter. Investment Management Associates Inc. ADV now owns 712,254 shares of the oil and gas producer’s stock valued at $11,097,000 after purchasing an additional 144,803 shares during the period. Hedge funds and other institutional investors own 15.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Piper Sandler boosted their price objective on Black Stone Minerals from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Thursday, November 17th. KeyCorp assumed coverage on Black Stone Minerals in a report on Monday, September 19th. They issued an “overweight” rating and a $22.00 price objective on the stock. TheStreet upgraded Black Stone Minerals from a “c+” rating to a “b” rating in a report on Friday, September 2nd. Finally, StockNews.com assumed coverage on Black Stone Minerals in a report on Wednesday, October 12th. They issued a “buy” rating on the stock. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $20.50.

Insiders Place Their Bets

In other Black Stone Minerals news, CAO Dawn Smajstrla sold 5,300 shares of the company’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $19.41, for a total transaction of $102,873.00. Following the sale, the chief accounting officer now owns 78,348 shares in the company, valued at approximately $1,520,734.68. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. acquired 25,000 shares of the stock in a transaction dated Wednesday, September 14th. The stock was acquired at an average cost of $16.39 per share, with a total value of $409,750.00. Following the transaction, the chief executive officer now owns 2,273,012 shares in the company, valued at approximately $37,254,666.68. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Dawn Smajstrla sold 5,300 shares of the company’s stock in a transaction dated Friday, November 4th. The stock was sold at an average price of $19.41, for a total value of $102,873.00. Following the transaction, the chief accounting officer now directly owns 78,348 shares of the company’s stock, valued at $1,520,734.68. The disclosure for this sale can be found here. Insiders have purchased a total of 75,000 shares of company stock worth $1,298,000 in the last quarter. 21.10% of the stock is owned by company insiders.

Black Stone Minerals Stock Down 0.9 %

NYSE BSM traded down $0.16 during trading hours on Thursday, hitting $18.25. 526,207 shares of the company were exchanged, compared to its average volume of 817,085. The company has a 50 day moving average of $17.42 and a two-hundred day moving average of $15.92. The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.07. Black Stone Minerals, L.P. has a 52-week low of $9.70 and a 52-week high of $20.24. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 9.71 and a beta of 1.05.

Black Stone Minerals Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 17th. Shareholders 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 of this dividend was Wednesday, November 9th. This represents a $1.80 annualized dividend and a yield of 9.86%. Black Stone Minerals’s dividend payout ratio is 95.75%.

Black Stone Minerals Profile

(Get Rating)

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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