Cambridge Investment Research Advisors Inc. Grows Stock Holdings in Black Stone Minerals, L.P. (NYSE:BSM)

Cambridge Investment Research Advisors Inc. grew its stake in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 1.7% during the 1st quarter, HoldingsChannel reports. The fund owned 395,880 shares of the oil and gas producer’s stock after buying an additional 6,627 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Black Stone Minerals were worth $6,045,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Cresset Asset Management LLC raised its stake in shares of Black Stone Minerals by 500.5% during the 4th quarter. Cresset Asset Management LLC now owns 596,853 shares of the oil and gas producer’s stock valued at $8,714,000 after purchasing an additional 497,457 shares during the period. Epacria Capital Partners LLC grew its holdings in Black Stone Minerals by 5.4% during the 4th quarter. Epacria Capital Partners LLC now owns 578,422 shares of the oil and gas producer’s stock valued at $8,445,000 after buying an additional 29,724 shares in the last quarter. Concorde Financial Corp increased its position in shares of Black Stone Minerals by 0.5% during the fourth quarter. Concorde Financial Corp now owns 483,209 shares of the oil and gas producer’s stock valued at $7,055,000 after buying an additional 2,202 shares during the period. HighTower Advisors LLC lifted its holdings in shares of Black Stone Minerals by 1.0% in the fourth quarter. HighTower Advisors LLC now owns 408,918 shares of the oil and gas producer’s stock worth $5,970,000 after buying an additional 4,090 shares in the last quarter. Finally, Aptus Capital Advisors LLC bought a new position in shares of Black Stone Minerals in the fourth quarter valued at approximately $4,876,000. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Insiders Place Their Bets

In other Black Stone Minerals news, SVP Carrie Pearson Clark sold 36,900 shares of the firm’s stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $13.56, for a total transaction of $500,364.00. Following the sale, the senior vice president now owns 165,857 shares in the company, valued at $2,249,020.92. This trade represents a 18.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas L. Carter, Jr. purchased 14,500 shares of the company’s stock in a transaction on Wednesday, May 21st. The shares were purchased at an average cost of $13.52 per share, with a total value of $196,040.00. Following the purchase, the chief executive officer now owns 3,349,621 shares of the company’s stock, valued at approximately $45,286,875.92. The trade was a 0.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 17.80% of the company’s stock.

Black Stone Minerals Stock Performance

Shares of BSM opened at $12.89 on Friday. Black Stone Minerals, L.P. has a 12-month low of $12.78 and a 12-month high of $16.03. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.08. The company has a market cap of $2.72 billion, a PE ratio of 14.01 and a beta of 0.31. The stock has a 50-day moving average price of $13.78 and a 200-day moving average price of $14.42.

Black Stone Minerals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were paid a $0.375 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.50 dividend on an annualized basis and a yield of 11.64%. Black Stone Minerals’s dividend payout ratio is presently 163.04%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BSM. Piper Sandler decreased their target price on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Wall Street Zen lowered shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th. Finally, Royal Bank Of Canada upgraded Black Stone Minerals to a “hold” rating in a research report on Friday, March 14th.

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.