Saber Capital Managment LLC bought a new position in shares of Black Stone Minerals, L.P. (NYSE:BSM – Free Report) during the fourth quarter, Holdings Channel.com reports. The fund bought 631,222 shares of the oil and gas producer’s stock, valued at approximately $8,389,000. Black Stone Minerals accounts for 7.0% of Saber Capital Managment LLC’s investment portfolio, making the stock its 4th largest holding.
A number of other institutional investors also recently modified their holdings of BSM. Farther Finance Advisors LLC raised its position in shares of Black Stone Minerals by 61.0% during the fourth quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer’s stock worth $32,000 after purchasing an additional 900 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of Black Stone Minerals by 65.8% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 4,943 shares of the oil and gas producer’s stock worth $66,000 after purchasing an additional 1,962 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of Black Stone Minerals during the fourth quarter worth approximately $86,000. Tower Research Capital LLC TRC raised its position in shares of Black Stone Minerals by 7,822.8% during the second quarter. Tower Research Capital LLC TRC now owns 7,289 shares of the oil and gas producer’s stock worth $95,000 after purchasing an additional 7,197 shares during the period. Finally, Lido Advisors LLC purchased a new stake in Black Stone Minerals in the 4th quarter valued at $134,000. 14.49% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Black Stone Minerals news, Director D Mark Dewalch bought 36,363 shares of the firm’s stock in a transaction dated Monday, June 1st. The stock was purchased at an average cost of $13.62 per share, with a total value of $495,264.06. Following the transaction, the director directly owned 631,248 shares in the company, valued at $8,597,597.76. This trade represents a 6.11% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Luke Stevens Putman sold 29,386 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $13.75, for a total value of $404,057.50. Following the sale, the senior vice president directly owned 702,645 shares of the company’s stock, valued at approximately $9,661,368.75. This represents a 4.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders bought 179,254 shares of company stock valued at $2,407,265 and sold 69,900 shares valued at $978,357. 17.70% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
View Our Latest Report on Black Stone Minerals
Black Stone Minerals Trading Up 0.0%
NYSE BSM opened at $13.98 on Monday. The firm has a market capitalization of $2.97 billion, a P/E ratio of 11.00 and a beta of 0.05. The business has a fifty day simple moving average of $13.89 and a 200 day simple moving average of $14.32. Black Stone Minerals, L.P. has a 12 month low of $11.78 and a 12 month high of $15.49. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24.
Black Stone Minerals (NYSE:BSM – Get Free Report) last released its quarterly earnings results on Monday, May 4th. The oil and gas producer reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.19). The company had revenue of $59.36 million during the quarter, compared to analysts’ expectations of $107.38 million. Black Stone Minerals had a net margin of 61.67% and a return on equity of 42.40%. On average, analysts predict that Black Stone Minerals, L.P. will post 0.97 EPS for the current fiscal year.
Black Stone Minerals Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $1.20 annualized dividend and a dividend yield of 8.6%. Black Stone Minerals’s dividend payout ratio (DPR) is currently 94.49%.
About Black Stone Minerals
Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.
Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.
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