Pine Valley Investments Ltd Liability Co Decreases Stake in Black Stone Minerals, L.P. (NYSE:BSM)

Pine Valley Investments Ltd Liability Co reduced its position in Black Stone Minerals, L.P. (NYSE:BSMFree Report) by 40.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 328,684 shares of the oil and gas producer’s stock after selling 222,202 shares during the period. Pine Valley Investments Ltd Liability Co owned 0.15% of Black Stone Minerals worth $5,663,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. ING Groep NV raised its position in Black Stone Minerals by 50.8% during the third quarter. ING Groep NV now owns 384,800 shares of the oil and gas producer’s stock valued at $6,630,000 after purchasing an additional 129,600 shares during the period. Counterpoint Mutual Funds LLC purchased a new stake in Black Stone Minerals during the third quarter valued at approximately $115,000. Flagship Harbor Advisors LLC raised its position in Black Stone Minerals by 25.3% during the third quarter. Flagship Harbor Advisors LLC now owns 16,498 shares of the oil and gas producer’s stock valued at $284,000 after purchasing an additional 3,331 shares during the period. Investment Management Associates Inc. ADV raised its position in Black Stone Minerals by 0.3% during the second quarter. Investment Management Associates Inc. ADV now owns 1,029,312 shares of the oil and gas producer’s stock valued at $16,418,000 after purchasing an additional 3,064 shares during the period. Finally, Schechter Investment Advisors LLC purchased a new stake in Black Stone Minerals during the third quarter valued at approximately $1,739,000. 13.32% of the stock is currently owned by hedge funds and other institutional investors.

Black Stone Minerals Stock Up 0.4 %

NYSE:BSM traded up $0.07 during midday trading on Tuesday, hitting $16.03. The stock had a trading volume of 216,046 shares, compared to its average volume of 412,867. Black Stone Minerals, L.P. has a one year low of $13.41 and a one year high of $18.55. The company has a market capitalization of $3.60 billion, a price-to-earnings ratio of 7.86 and a beta of 0.95. The stock has a 50-day moving average of $16.39 and a 200 day moving average of $17.07.

Black Stone Minerals Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 23rd. Investors of record on Friday, February 16th will be paid a $0.475 dividend. The ex-dividend date is Thursday, February 15th. This represents a $1.90 annualized dividend and a yield of 11.85%. Black Stone Minerals’s dividend payout ratio (DPR) is currently 93.14%.

Analyst Ratings Changes

A number of brokerages have issued reports on BSM. Raymond James downgraded Black Stone Minerals from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 24th. Stifel Nicolaus cut their target price on Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Finally, Piper Sandler cut their target price on Black Stone Minerals from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th.

Get Our Latest Research Report on Black Stone Minerals

Insider Buying and Selling

In other news, CEO Thomas L. Carter, Jr. acquired 9,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The shares were bought at an average price of $17.11 per share, with a total value of $153,990.00. Following the completion of the purchase, the chief executive officer now directly owns 2,761,368 shares in the company, valued at $47,247,006.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Thomas L. Carter, Jr. bought 9,000 shares of the company’s stock in a transaction on Wednesday, November 8th. The shares were acquired at an average price of $17.11 per share, with a total value of $153,990.00. Following the transaction, the chief executive officer now owns 2,761,368 shares of the company’s stock, valued at $47,247,006.48. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director D Mark Dewalch bought 21,703 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were bought at an average cost of $17.14 per share, for a total transaction of $371,989.42. Following the transaction, the director now directly owns 282,582 shares in the company, valued at approximately $4,843,455.48. The disclosure for this purchase can be found here. Insiders have bought a total of 59,703 shares of company stock valued at $989,689 over the last quarter. 19.60% of the stock is owned by corporate insiders.

About Black Stone Minerals

(Free Report)

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 16.8 million gross acres, and overriding royalty interests in 1.8 million gross acres located in 41 states in the United States.

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Institutional Ownership by Quarter for Black Stone Minerals (NYSE:BSM)

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