Custom Index Systems LLC Sells 13,908 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Custom Index Systems LLC decreased its position in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 15.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,879 shares of the oil and gas producer’s stock after selling 13,908 shares during the quarter. Custom Index Systems LLC’s holdings in Black Stone Minerals were worth $1,116,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Prevail Innovative Wealth Advisors LLC bought a new position in Black Stone Minerals during the 1st quarter worth about $2,560,000. Magnolia Capital Advisors LLC bought a new position in shares of Black Stone Minerals during the second quarter valued at approximately $2,480,000. GraniteShares Advisors LLC increased its holdings in Black Stone Minerals by 14.2% during the second quarter. GraniteShares Advisors LLC now owns 121,795 shares of the oil and gas producer’s stock valued at $1,909,000 after buying an additional 15,188 shares during the period. Commonwealth Equity Services LLC raised its stake in Black Stone Minerals by 21.8% in the second quarter. Commonwealth Equity Services LLC now owns 33,915 shares of the oil and gas producer’s stock worth $531,000 after buying an additional 6,069 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in Black Stone Minerals during the second quarter worth $228,000. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Trading Down 1.3 %

Shares of BSM stock traded down $0.19 during trading hours on Friday, reaching $14.92. 332,154 shares of the company’s stock were exchanged, compared to its average volume of 442,877. Black Stone Minerals, L.P. has a fifty-two week low of $13.94 and a fifty-two week high of $18.55. The stock’s 50 day moving average is $14.89 and its 200-day moving average is $15.39. The company has a market cap of $3.14 billion, a price-to-earnings ratio of 9.69 and a beta of 0.93.

Black Stone Minerals (NYSE:BSM) last announced its earnings results on Monday, August 5th. The oil and gas producer reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.08). Black Stone Minerals had a net margin of 64.88% and a return on equity of 37.93%. The business had revenue of $109.62 million for the quarter, compared to analyst estimates of $124.24 million. During the same period in the prior year, the company earned $0.35 earnings per share. Equities analysts anticipate that Black Stone Minerals, L.P. will post 1.31 EPS for the current year.

Black Stone Minerals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 10.05%. The ex-dividend date of this dividend is Friday, November 8th. Black Stone Minerals’s dividend payout ratio is presently 97.40%.

Insider Buying and Selling at Black Stone Minerals

In related news, Director D Mark Dewalch acquired 34,200 shares of the stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $14.62 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the director now owns 357,005 shares of the company’s stock, valued at approximately $5,219,413.10. This represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. purchased 100,000 shares of the business’s stock in a transaction that occurred on Friday, September 6th. The shares were bought at an average price of $14.12 per share, for a total transaction of $1,412,000.00. Following the acquisition, the chief executive officer now owns 3,133,128 shares in the company, valued at $44,239,767.36. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director D Mark Dewalch acquired 34,200 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average price of $14.62 per share, with a total value of $500,004.00. Following the completion of the purchase, the director now owns 357,005 shares in the company, valued at approximately $5,219,413.10. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 19.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BSM has been the subject of several recent research reports. StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Tuesday, August 6th. Piper Sandler reduced their target price on shares of Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating for the company in a report on Thursday, August 15th.

About Black Stone Minerals

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.