Horizon Kinetics Asset Management LLC Purchases 109,500 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Horizon Kinetics Asset Management LLC raised its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 65.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 275,638 shares of the oil and gas producer’s stock after buying an additional 109,500 shares during the quarter. Horizon Kinetics Asset Management LLC owned about 0.12% of Black Stone Minerals worth $4,162,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of BSM. Larson Financial Group LLC purchased a new stake in Black Stone Minerals during the third quarter valued at about $54,000. Summit Securities Group LLC bought a new stake in Black Stone Minerals during the second quarter worth about $74,000. SG Americas Securities LLC bought a new stake in shares of Black Stone Minerals in the 1st quarter worth approximately $102,000. Financial Advocates Investment Management purchased a new stake in shares of Black Stone Minerals in the second quarter worth $159,000. Finally, Choreo LLC bought a new stake in Black Stone Minerals during the 2nd quarter valued at about $205,000. 14.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Black Stone Minerals

In other news, CEO Thomas L. Carter, Jr. bought 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the purchase, the chief executive officer now owns 3,133,128 shares in the company, valued at approximately $44,239,767.36. The trade was a 3.30 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 18.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Piper Sandler reduced their price objective on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, November 18th. StockNews.com cut Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Friday.

Black Stone Minerals Trading Up 0.3 %

Shares of BSM opened at $15.60 on Monday. The company has a market cap of $3.29 billion, a P/E ratio of 9.63 and a beta of 0.94. Black Stone Minerals, L.P. has a twelve month low of $13.94 and a twelve month high of $17.80. The company’s fifty day simple moving average is $15.05 and its 200-day simple moving average is $15.25.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $134.86 million for the quarter, compared to the consensus estimate of $117.68 million. During the same period last year, the business posted $0.27 EPS. Analysts predict that Black Stone Minerals, L.P. will post 1.32 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.62%. Black Stone Minerals’s dividend payout ratio is currently 92.59%.

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.