Chase Investment Counsel Corp Sells 4,874 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Chase Investment Counsel Corp lowered its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 12.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,914 shares of the oil and gas producer’s stock after selling 4,874 shares during the period. Chase Investment Counsel Corp’s holdings in Black Stone Minerals were worth $527,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Fiducient Advisors LLC purchased a new stake in shares of Black Stone Minerals in the 3rd quarter worth approximately $12,253,000. Prevail Innovative Wealth Advisors LLC purchased a new stake in shares of Black Stone Minerals in the first quarter worth $2,560,000. Magnolia Capital Advisors LLC bought a new position in shares of Black Stone Minerals during the second quarter valued at $2,480,000. International Assets Investment Management LLC purchased a new position in shares of Black Stone Minerals in the 3rd quarter worth about $8,240,000. Finally, Texas Capital Bank Wealth Management Services Inc boosted its stake in Black Stone Minerals by 200.0% in the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 60,000 shares of the oil and gas producer’s stock worth $959,000 after purchasing an additional 40,000 shares in the last quarter. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Wall Street Analyst Weigh In

BSM has been the subject of several recent analyst reports. Piper Sandler decreased their target price on shares of 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 cut Black Stone Minerals from a “buy” rating to a “hold” rating in a research report on Wednesday, November 6th.

Insider Buying and Selling at Black Stone Minerals

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the stock in a transaction dated Friday, September 6th. The shares were 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 approximately $44,239,767.36. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director D Mark Dewalch acquired 34,200 shares of the stock in a transaction dated Thursday, August 15th. The shares were purchased at an average cost of $14.62 per share, with a total value of $500,004.00. Following the transaction, the director now directly owns 357,005 shares in the company, valued at approximately $5,219,413.10. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Thomas L. Carter, Jr. bought 100,000 shares of Black Stone Minerals stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average cost of $14.12 per share, with a total value of $1,412,000.00. Following the completion of 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 position. The disclosure for this purchase can be found here. Corporate insiders own 18.60% of the company’s stock.

Black Stone Minerals Stock Up 0.5 %

Shares of BSM stock opened at $15.05 on Wednesday. The company has a 50 day moving average price of $14.91 and a 200-day moving average price of $15.31. Black Stone Minerals, L.P. has a 52 week low of $13.94 and a 52 week high of $17.80. The firm has a market capitalization of $3.39 billion, a PE ratio of 9.29 and a beta of 0.94.

Black Stone Minerals (NYSE:BSM) last announced its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. 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 previous year, the business earned $0.27 EPS. Analysts anticipate that Black Stone Minerals, L.P. will post 1.32 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be given a $0.375 dividend. The ex-dividend date is Friday, November 8th. This represents a $1.50 annualized dividend and a yield of 9.97%. Black Stone Minerals’s payout ratio is 92.59%.

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.