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

Clark Estates Inc. NY decreased 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 filing with the Securities and Exchange Commission. The institutional investor owned 179,800 shares of the oil and gas producer’s stock after selling 14,425 shares during the period. Clark Estates Inc. NY’s holdings in Black Stone Minerals were worth $2,715,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Larson Financial Group LLC purchased a new position in shares of Black Stone Minerals during the third quarter worth approximately $54,000. Summit Securities Group LLC purchased a new position in Black Stone Minerals during the 2nd quarter worth $74,000. SG Americas Securities LLC acquired a new position in Black Stone Minerals in the first quarter valued at $102,000. Financial Advocates Investment Management purchased a new stake in shares of Black Stone Minerals in the second quarter valued at about $159,000. Finally, Choreo LLC acquired a new stake in shares of Black Stone Minerals during the second quarter worth about $205,000. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Black Stone Minerals Trading Down 0.2 %

Shares of BSM stock opened at $15.35 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 cap of $3.23 billion, a price-to-earnings ratio of 9.47 and a beta of 0.94. The stock has a 50 day simple moving average of $15.07 and a 200-day simple moving average of $15.24.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.06. The firm had revenue of $134.86 million during the quarter, compared to analysts’ expectations of $117.68 million. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. During the same quarter in the prior year, the business posted $0.27 earnings per share. On average, equities analysts forecast that Black Stone Minerals, L.P. will post 1.32 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 8th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.78%. Black Stone Minerals’s payout ratio is 92.59%.

Insider Transactions at Black Stone Minerals

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of Black Stone Minerals stock in a transaction 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 completion of the acquisition, 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 3.30 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 18.60% of the company’s stock.

Wall Street Analysts Forecast Growth

BSM has been the topic of several analyst reports. StockNews.com downgraded Black Stone Minerals from a “buy” rating to a “hold” rating in a research note 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 on the stock in a research report on Monday, November 18th.

Black Stone Minerals Company 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.