Clark Estates Inc. NY Decreases Stock Holdings in Black Stone Minerals, L.P. (NYSE:BSM)

Clark Estates Inc. NY lessened its stake in Black Stone Minerals, L.P. (NYSE:BSM) by 7.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 179,800 shares of the oil and gas producer’s stock after selling 14,425 shares during the quarter. Clark Estates Inc. NY owned about 0.08% of Black Stone Minerals worth $2,715,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Cadence Bank increased its holdings in shares of Black Stone Minerals by 2.6% during the 3rd quarter. Cadence Bank now owns 27,650 shares of the oil and gas producer’s stock worth $418,000 after buying an additional 689 shares during the last quarter. Horizon Kinetics Asset Management LLC raised its position in Black Stone Minerals by 65.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 275,638 shares of the oil and gas producer’s stock valued at $4,162,000 after purchasing an additional 109,500 shares during the period. Larson Financial Group LLC acquired a new position in shares of Black Stone Minerals in the 3rd quarter valued at $54,000. Citigroup Inc. grew its holdings in shares of Black Stone Minerals by 2.3% during the 3rd quarter. Citigroup Inc. now owns 470,915 shares of the oil and gas producer’s stock worth $7,111,000 after purchasing an additional 10,465 shares during the period. Finally, AlphaCore Capital LLC increased its position in shares of Black Stone Minerals by 34.4% during the 3rd quarter. AlphaCore Capital LLC now owns 58,550 shares of the oil and gas producer’s stock worth $884,000 after purchasing an additional 15,000 shares during the last quarter. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Analyst Ratings Changes

BSM has been the topic of a number of recent analyst reports. StockNews.com cut shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research report on Friday, November 22nd. Piper Sandler lowered their price objective on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, November 18th.

Black Stone Minerals Price Performance

NYSE BSM opened at $15.35 on Wednesday. The company has a market cap of $3.23 billion, a P/E ratio of 9.47 and a beta of 0.94. The stock has a 50-day moving average of $15.07 and a two-hundred day moving average of $15.24. Black Stone Minerals, L.P. has a 1-year low of $13.94 and a 1-year high of $17.80.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data 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 firm had revenue of $134.86 million during the quarter, compared to analysts’ expectations of $117.68 million. During the same quarter in the previous year, the business posted $0.27 earnings per share. On average, analysts anticipate that Black Stone Minerals, L.P. will post 1.32 EPS 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. Investors of record on Friday, November 8th were issued a $0.375 dividend. The ex-dividend date was Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a yield of 9.78%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 92.59%.

Insider Buying and Selling

In other news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the company’s stock in a transaction on Friday, September 6th. The shares were bought at an average cost of $14.12 per share, with a total value of $1,412,000.00. Following the transaction, the chief executive officer now owns 3,133,128 shares in the company, valued at approximately $44,239,767.36. This trade represents a 3.30 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 18.60% of the stock is currently owned by insiders.

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.