Black Stone Minerals, L.P. $BSM Shares Sold by Alpha Wealth Funds LLC

Alpha Wealth Funds LLC decreased its stake in Black Stone Minerals, L.P. (NYSE:BSM) by 20.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,200 shares of the oil and gas producer’s stock after selling 2,800 shares during the quarter. Alpha Wealth Funds LLC’s holdings in Black Stone Minerals were worth $146,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of BSM. SVB Wealth LLC acquired a new stake in shares of Black Stone Minerals in the first quarter valued at about $25,000. PNC Financial Services Group Inc. acquired a new stake in shares of Black Stone Minerals in the first quarter valued at about $29,000. North Capital Inc. acquired a new stake in shares of Black Stone Minerals in the first quarter valued at about $46,000. Exchange Traded Concepts LLC grew its position in shares of Black Stone Minerals by 1,258.8% in the first quarter. Exchange Traded Concepts LLC now owns 7,623 shares of the oil and gas producer’s stock valued at $116,000 after purchasing an additional 7,062 shares during the period. Finally, Stratos Wealth Partners LTD. acquired a new stake in shares of Black Stone Minerals in the second quarter valued at about $132,000. Institutional investors and hedge funds own 14.49% of the company’s stock.

Black Stone Minerals Stock Performance

NYSE:BSM opened at $12.57 on Friday. The company’s 50-day moving average price is $12.61 and its 200-day moving average price is $13.16. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.12. The company has a market cap of $2.66 billion, a P/E ratio of 10.83 and a beta of 0.24. Black Stone Minerals, L.P. has a twelve month low of $11.78 and a twelve month high of $15.66.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.23. Black Stone Minerals had a net margin of 61.21% and a return on equity of 39.67%. The firm had revenue of $159.49 million for the quarter, compared to the consensus estimate of $112.19 million. On average, sell-side analysts forecast that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 13th. Shareholders of record on Thursday, November 6th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 6th. This represents a $1.20 dividend on an annualized basis and a yield of 9.6%. Black Stone Minerals’s payout ratio is 103.45%.

Insider Buying and Selling

In other news, CEO Thomas L. Carter, Jr. bought 27,500 shares of Black Stone Minerals stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $12.20 per share, with a total value of $335,500.00. Following the completion of the purchase, the chief executive officer directly owned 3,396,831 shares of the company’s stock, valued at approximately $41,441,338.20. This trade represents a 0.82% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have bought 163,080 shares of company stock worth $1,983,910 over the last quarter. 17.80% of the stock is owned by insiders.

Analyst Ratings Changes

BSM has been the topic of several research analyst reports. Piper Sandler dropped their target price on shares of Black Stone Minerals from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, August 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Black Stone Minerals in a research report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Black Stone Minerals from a “strong sell” rating to a “hold” rating in a research report on Monday, October 13th. Four analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Black Stone Minerals currently has a consensus rating of “Hold” and an average price target of $13.00.

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.