Chase Investment Counsel Corp Cuts Stake in Black Stone Minerals, L.P. (NYSE:BSM)

Chase Investment Counsel Corp cut its holdings in Black Stone Minerals, L.P. (NYSE:BSM) by 12.2% during the third quarter, Holdings Channel reports. The firm owned 34,914 shares of the oil and gas producer’s stock after selling 4,874 shares during the quarter. 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 institutional investors have also added to or reduced their stakes in the stock. Summit Securities Group LLC purchased a new position in Black Stone Minerals during the second quarter valued at $74,000. SG Americas Securities LLC purchased a new position in shares of Black Stone Minerals during the first quarter valued at about $102,000. Financial Advocates Investment Management bought a new stake in shares of Black Stone Minerals in the second quarter worth about $159,000. Choreo LLC bought a new position in Black Stone Minerals during the second quarter valued at approximately $205,000. Finally, BCS Wealth Management grew its holdings in Black Stone Minerals by 15.1% during the 3rd quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock valued at $213,000 after buying an additional 1,852 shares in the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Piper Sandler decreased their price objective on Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. StockNews.com downgraded shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th.

Black Stone Minerals Stock Up 0.5 %

NYSE BSM opened at $15.05 on Wednesday. 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 price-to-earnings ratio of 9.29 and a beta of 0.94. The company has a fifty day moving average of $14.91 and a two-hundred day moving average of $15.31.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, topping 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 period in the previous year, the company earned $0.27 EPS. Equities research analysts anticipate that Black Stone Minerals, L.P. will post 1.32 EPS for the current year.

Black Stone Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Friday, November 8th will be paid 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 of this dividend is Friday, November 8th. Black Stone Minerals’s dividend payout ratio is currently 92.59%.

Insider Activity at Black Stone Minerals

In related news, SVP Carrie Pearson Clark sold 18,532 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $14.84, for a total value of $275,014.88. Following the transaction, the senior vice president now owns 116,923 shares of the company’s stock, valued at $1,735,137.32. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of Black Stone Minerals stock in a transaction that occurred on Friday, September 6th. The stock was bought at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the completion of 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 represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Carrie Pearson Clark sold 18,532 shares of the company’s stock in a transaction 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 sale, the senior vice president now owns 116,923 shares of the company’s stock, valued at approximately $1,735,137.32. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 18.60% of the stock is owned by company 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.