Anthracite Investment Company Inc. Has $1.33 Million Stake in Black Stone Minerals, L.P. (NYSE:BSM)

Anthracite Investment Company Inc. reduced its holdings in Black Stone Minerals, L.P. (NYSE:BSM) by 18.5% during the 3rd quarter, Holdings Channel reports. The fund owned 88,104 shares of the oil and gas producer’s stock after selling 20,000 shares during the quarter. Anthracite Investment Company Inc.’s holdings in Black Stone Minerals were worth $1,330,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BSM. SG Americas Securities LLC acquired a new stake in Black Stone Minerals during the 1st quarter valued at $102,000. Cadence Bank increased its stake in shares of Black Stone Minerals by 3.1% in the first quarter. Cadence Bank now owns 26,350 shares of the oil and gas producer’s stock valued at $421,000 after buying an additional 784 shares in the last quarter. Tidal Investments LLC raised its holdings in shares of Black Stone Minerals by 8.4% in the first quarter. Tidal Investments LLC now owns 90,566 shares of the oil and gas producer’s stock valued at $1,447,000 after buying an additional 7,006 shares during the last quarter. Redhawk Wealth Advisors Inc. bought a new position in shares of Black Stone Minerals in the second quarter valued at about $228,000. Finally, Summit Securities Group LLC acquired a new position in Black Stone Minerals during the 2nd quarter worth about $74,000. 14.49% of the stock is owned by institutional investors and hedge funds.

Black Stone Minerals Stock Down 0.9 %

BSM stock opened at $15.04 on Wednesday. The business has a fifty day moving average of $15.00 and a 200-day moving average of $15.28. The company has a market cap of $3.17 billion, a P/E ratio of 9.25 and a beta of 0.94. Black Stone Minerals, L.P. has a twelve month low of $13.94 and a twelve month high of $17.80.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share 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 period in the previous year, the business posted $0.27 EPS. As a group, equities research analysts anticipate that Black Stone Minerals, L.P. will post 1.32 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were issued a $0.375 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.50 annualized dividend and a yield of 9.97%. Black Stone Minerals’s dividend payout ratio is currently 92.59%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BSM shares. StockNews.com upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Piper Sandler decreased their price target on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday.

Insider Buying and Selling at Black Stone Minerals

In other news, SVP Carrie Pearson Clark sold 18,532 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $14.84, for a total value of $275,014.88. Following the completion of the sale, the senior vice president now directly owns 116,923 shares of the company’s stock, valued at $1,735,137.32. This represents a 13.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Thomas L. Carter, Jr. acquired 100,000 shares of Black Stone Minerals stock in a transaction that occurred on Friday, September 6th. The shares were purchased at an average cost of $14.12 per share, for a total transaction of $1,412,000.00. Following the purchase, the chief executive officer now directly owns 3,133,128 shares in the company, valued at $44,239,767.36. The trade was a 3.30 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 18.60% of the company’s stock.

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.