Black Stone Minerals, L.P. (NYSE:BSM) Stock Position Decreased by Anthracite Investment Company Inc.

Anthracite Investment Company Inc. decreased its position in Black Stone Minerals, L.P. (NYSE:BSM) by 18.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 88,104 shares of the oil and gas producer’s stock after selling 20,000 shares during the quarter. Anthracite Investment Company Inc.’s holdings in Black Stone Minerals were worth $1,330,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Magnolia Capital Advisors LLC acquired a new stake in shares of Black Stone Minerals in the second quarter valued at about $2,480,000. International Assets Investment Management LLC acquired a new stake in Black Stone Minerals in the 3rd quarter valued at approximately $8,240,000. Fiducient Advisors LLC bought a new position in Black Stone Minerals in the 3rd quarter worth approximately $12,253,000. ING Groep NV lifted its holdings in shares of Black Stone Minerals by 5.9% during the third quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer’s stock worth $9,859,000 after buying an additional 36,300 shares during the last quarter. Finally, Prevail Innovative Wealth Advisors LLC boosted its position in shares of Black Stone Minerals by 25.7% in the second quarter. Prevail Innovative Wealth Advisors LLC now owns 201,336 shares of the oil and gas producer’s stock valued at $3,155,000 after acquiring an additional 41,136 shares during the period. Institutional investors and hedge funds own 14.49% of the company’s stock.

Black Stone Minerals Trading Down 0.9 %

Shares of BSM stock opened at $15.04 on Wednesday. Black Stone Minerals, L.P. has a 12 month low of $13.94 and a 12 month high of $17.80. The company has a market capitalization of $3.17 billion, a P/E ratio of 9.25 and a beta of 0.94. The stock has a 50 day moving average of $15.00 and a two-hundred day moving average of $15.28.

Black Stone Minerals (NYSE:BSM) last issued its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 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 during the quarter, compared to analyst estimates of $117.68 million. During the same period in the prior year, the company posted $0.27 earnings per share. Sell-side 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 firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.97%. The ex-dividend date was Friday, November 8th. Black Stone Minerals’s payout ratio is 92.59%.

Insider Activity

In other news, SVP Carrie Pearson Clark sold 18,532 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now directly owns 116,923 shares of the company’s stock, valued at approximately $1,735,137.32. This represents a 13.68 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas L. Carter, Jr. bought 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the transaction, the chief executive officer now directly owns 3,133,128 shares in the company, valued at $44,239,767.36. This trade represents a 3.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 18.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Piper Sandler decreased their price target on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday.

About Black Stone Minerals

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.