Eagle Global Advisors LLC Has $1.36 Million Stock Holdings in Black Stone Minerals, L.P. (NYSE:BSM)

Key Points

• Eagle Global Advisors LLC sold 60,818 shares of Black Stone Minerals, L.P., reducing its holdings by 40.6% and now owning 89,122 shares valued at $1,361,000.
• Multiple analysts have lowered price targets for Black Stone Minerals to a range of $14.00 to $15.00, reflecting a shift in market sentiment.
• CEO Thomas L. Carter, Jr. purchased 25,000 shares of the company at $12.10 per share, increasing his stake, while the company announced a quarterly dividend of $0.30 with a yield of 9.9%.

Eagle Global Advisors LLC lessened its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 40.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 89,122 shares of the oil and gas producer's stock after selling 60,818 shares during the period. Eagle Global Advisors LLC's holdings in Black Stone Minerals were worth $1,361,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. acquired a new position in shares of Black Stone Minerals in the 1st quarter valued at $29,000. NBC Securities Inc. lifted its position in Black Stone Minerals by 202,400.0% in the 1st quarter. NBC Securities Inc. now owns 2,025 shares of the oil and gas producer's stock valued at $30,000 after acquiring an additional 2,024 shares in the last quarter. North Capital Inc. bought a new stake in Black Stone Minerals in the 1st quarter valued at $46,000. State of Wyoming bought a new stake in Black Stone Minerals in the 4th quarter valued at $107,000. Finally, Exchange Traded Concepts LLC lifted its position in Black Stone Minerals by 1,258.8% in the 1st quarter. Exchange Traded Concepts LLC now owns 7,623 shares of the oil and gas producer's stock valued at $116,000 after acquiring an additional 7,062 shares in the last quarter. Institutional investors and hedge funds own 14.49% of the company's stock.

Insider Activity

In related news, SVP Carrie Pearson Clark sold 36,900 shares of the company's stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $13.56, for a total value of $500,364.00. Following the transaction, the senior vice president owned 165,857 shares in the company, valued at approximately $2,249,020.92. This represents a 18.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas L. Carter, Jr. purchased 9,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was bought at an average price of $12.36 per share, for a total transaction of $113,712.00. Following the purchase, the chief executive officer owned 3,431,031 shares in the company, valued at $42,407,543.16. The trade was a 0.27% increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 95,910 shares of company stock worth $1,189,002 over the last three months. Insiders own 17.80% of the company's stock.

Wall Street Analyst Weigh In

BSM has been the topic of several research reports. Wall Street Zen cut shares of Black Stone Minerals from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Piper Sandler cut their price objective 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.

Black Stone Minerals Stock Down 1.4%

BSM traded down $0.17 during trading on Friday, hitting $12.28. The company had a trading volume of 438,401 shares, compared to its average volume of 550,276. The company has a market capitalization of $2.60 billion, a PE ratio of 10.59 and a beta of 0.28. Black Stone Minerals, L.P. has a one year low of $11.96 and a one year high of $15.66. The firm's 50-day moving average price is $12.88 and its 200 day moving average price is $13.91. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.12.

Black Stone Minerals (NYSE:BSM - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.53 EPS 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 analysts' expectations of $112.19 million. As a group, equities analysts expect that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 9.8%. Black Stone Minerals's dividend payout ratio (DPR) is presently 103.45%.

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.