ING Groep NV Buys 36,300 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

ING Groep NV increased its stake in Black Stone Minerals, L.P. (NYSE:BSM) by 5.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 652,900 shares of the oil and gas producer’s stock after purchasing an additional 36,300 shares during the period. ING Groep NV owned approximately 0.29% of Black Stone Minerals worth $9,859,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Summit Securities Group LLC acquired a new position in shares of Black Stone Minerals in the 2nd quarter valued at approximately $74,000. SG Americas Securities LLC acquired a new position in Black Stone Minerals during the first quarter valued at approximately $102,000. Financial Advocates Investment Management acquired a new position in Black Stone Minerals during the second quarter valued at approximately $159,000. Choreo LLC bought a new stake in Black Stone Minerals during the second quarter worth $205,000. Finally, BCS Wealth Management boosted its holdings in shares of Black Stone Minerals by 15.1% in the 3rd quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock valued at $213,000 after purchasing an additional 1,852 shares in the last quarter. Institutional investors own 14.49% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Carrie Pearson Clark sold 18,532 shares of the company’s stock in a transaction that occurred 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 directly owns 116,923 shares in the company, valued at $1,735,137.32. This represents a 13.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Thomas L. Carter, Jr. bought 100,000 shares of the firm’s stock in a transaction on Friday, September 6th. The shares were purchased at an average cost of $14.12 per share, with a total value of $1,412,000.00. Following the transaction, the chief executive officer now directly owns 3,133,128 shares in the company, valued at approximately $44,239,767.36. This trade represents a 3.30 % increase in their position. The disclosure for this purchase can be found here. Insiders own 18.60% of the company’s stock.

Black Stone Minerals Stock Performance

Shares of BSM opened at $15.34 on Friday. Black Stone Minerals, L.P. has a 52 week low of $13.94 and a 52 week high of $17.80. The stock has a market capitalization of $3.46 billion, a price-to-earnings ratio of 9.47 and a beta of 0.94. The stock has a fifty day moving average of $14.93 and a 200-day moving average of $15.31.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 EPS for the quarter, beating the consensus estimate of $0.35 by $0.06. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. The firm had revenue of $134.86 million during the quarter, compared to the consensus estimate of $117.68 million. During the same period last year, the company earned $0.27 earnings per share. As a group, equities analysts forecast that Black Stone Minerals, L.P. will post 1.32 EPS for the current year.

Black Stone Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, November 8th will be issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 9.78%. The ex-dividend date is Friday, November 8th. Black Stone Minerals’s payout ratio is 92.59%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. Piper Sandler dropped their price objective on Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. StockNews.com upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Thursday.

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.