ING Groep NV Acquires 36,300 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

ING Groep NV lifted its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 5.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 652,900 shares of the oil and gas producer’s stock after purchasing an additional 36,300 shares during the period. ING Groep NV’s holdings in Black Stone Minerals were worth $9,859,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Black Stone Minerals during the 1st quarter worth approximately $102,000. Prevail Innovative Wealth Advisors LLC bought a new position in Black Stone Minerals during the first quarter worth $2,560,000. MAS Advisors LLC grew its holdings in Black Stone Minerals by 56.7% in the first quarter. MAS Advisors LLC now owns 27,673 shares of the oil and gas producer’s stock worth $442,000 after purchasing an additional 10,014 shares during the period. Texas Capital Bank Wealth Management Services Inc increased its stake in Black Stone Minerals by 200.0% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 60,000 shares of the oil and gas producer’s stock valued at $959,000 after purchasing an additional 40,000 shares in the last quarter. Finally, Cadence Bank raised its holdings in shares of Black Stone Minerals by 3.1% during the first quarter. Cadence Bank now owns 26,350 shares of the oil and gas producer’s stock valued at $421,000 after purchasing an additional 784 shares during the period. Institutional investors and hedge funds own 14.49% of the company’s stock.

Insiders Place Their Bets

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of Black Stone Minerals stock in a transaction on Friday, September 6th. The stock was purchased at an average price of $14.12 per share, for a total transaction of $1,412,000.00. Following the purchase, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. This trade represents a 3.30 % 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. Also, SVP Carrie Pearson Clark sold 18,532 shares of Black Stone Minerals stock in a transaction on Monday, August 26th. The stock was sold at an average price of $14.84, for a total value of $275,014.88. Following the sale, the senior vice president now owns 116,923 shares in the company, valued at $1,735,137.32. The trade was a 13.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 18.60% of the company’s stock.

Black Stone Minerals Price Performance

NYSE:BSM opened at $15.34 on Friday. Black Stone Minerals, L.P. has a one year low of $13.94 and a one year high of $17.80. The company has a market cap of $3.46 billion, a PE ratio of 9.47 and a beta of 0.94. The firm has a 50-day moving average of $14.93 and a 200-day moving average of $15.31.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, topping the consensus estimate of $0.35 by $0.06. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. The firm had revenue of $134.86 million during the quarter, compared to the consensus estimate of $117.68 million. During the same period in the prior year, the business posted $0.27 earnings per share. On average, equities research analysts expect that Black Stone Minerals, L.P. will post 1.32 earnings per share for the current fiscal year.

Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 9.78%. The ex-dividend date of this dividend is Friday, November 8th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 92.59%.

Analyst Upgrades and Downgrades

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

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.