Black Stone Minerals, L.P. (NYSE:BSM) Sees Significant Drop in Short Interest

Black Stone Minerals, L.P. (NYSE:BSM) was the target of a significant decline in short interest in October. As of October 15th, there was short interest totalling 3,080,000 shares, a decline of 5.2% from the September 30th total of 3,250,000 shares. Based on an average daily volume of 411,700 shares, the days-to-cover ratio is currently 7.5 days. Approximately 1.8% of the shares of the company are short sold.

Insider Activity at Black Stone Minerals

In other news, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals 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 directly owns 116,923 shares in the company, valued at $1,735,137.32. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Carrie Pearson Clark sold 18,532 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $14.84, for a total value of $275,014.88. Following the transaction, the senior vice president now owns 116,923 shares in the company, valued at $1,735,137.32. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the business’s stock in a transaction dated Friday, September 6th. The shares were acquired at an average price of $14.12 per share, for a total transaction of $1,412,000.00. Following the acquisition, the chief executive officer now directly owns 3,133,128 shares in the company, valued at $44,239,767.36. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 18.60% of the company’s stock.

Institutional Trading of Black Stone Minerals

Institutional investors and hedge funds have recently modified their holdings of the business. Prevail Innovative Wealth Advisors LLC acquired a new position in Black Stone Minerals during the first quarter valued at approximately $2,560,000. Magnolia Capital Advisors LLC acquired a new stake in Black Stone Minerals during the 2nd quarter valued at $2,480,000. Fiducient Advisors LLC bought a new position in shares of Black Stone Minerals in the third quarter worth $12,253,000. International Assets Investment Management LLC bought a new position in Black Stone Minerals in the third quarter valued at about $8,240,000. Finally, GraniteShares Advisors LLC lifted its stake in shares of Black Stone Minerals by 14.2% in the second quarter. GraniteShares Advisors LLC now owns 121,795 shares of the oil and gas producer’s stock worth $1,909,000 after acquiring an additional 15,188 shares during the period. 14.49% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Piper Sandler cut their price target on Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. StockNews.com upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th.

Black Stone Minerals Stock Up 0.9 %

Shares of BSM traded up $0.13 during trading hours on Friday, reaching $14.89. 74,331 shares of the company traded hands, compared to its average volume of 438,850. The business has a fifty day moving average price of $14.88 and a 200-day moving average price of $15.35. The stock has a market capitalization of $3.36 billion, a P/E ratio of 9.96 and a beta of 0.93. Black Stone Minerals has a 12-month low of $13.94 and a 12-month high of $18.55.

Black Stone Minerals (NYSE:BSM) last released its 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 business had revenue of $109.62 million for the quarter, compared to analyst estimates 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 company earned $0.35 earnings per share. As a group, research analysts predict that Black Stone Minerals will post 1.27 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be paid a $0.375 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.50 annualized dividend and a dividend yield of 10.07%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 101.35%.

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.