Kingstone Capital Partners Texas LLC Purchases Shares of 13,434,351 Black Stone Minerals, L.P. $BSM

Key Points

• Kingstone Capital Partners Texas LLC has acquired a new stake in Black Stone Minerals, purchasing approximately 13.4 million shares valued at around $175.7 million, representing about 6.36% ownership.
• Black Stone Minerals reported better-than-expected quarterly earnings, with EPS of $0.53, surpassing the consensus estimate of $0.30, and revenues of $159.49 million.
• The company recently announced a quarterly dividend of $0.30 per share, reflecting a dividend yield of 9.3%, but noted a payout ratio of 103.45%.

Kingstone Capital Partners Texas LLC bought a new stake in shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 13,434,351 shares of the oil and gas producer's stock, valued at approximately $175,721,000. Kingstone Capital Partners Texas LLC owned about 6.36% of Black Stone Minerals as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. SVB Wealth LLC purchased a new position in Black Stone Minerals during the first quarter valued at $25,000. PNC Financial Services Group Inc. purchased a new position in shares of Black Stone Minerals in the 1st quarter worth about $29,000. NBC Securities Inc. raised its position in shares of 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 worth $30,000 after purchasing an additional 2,024 shares during the last quarter. North Capital Inc. purchased a new position in shares of Black Stone Minerals in the 1st quarter worth about $46,000. Finally, State of Wyoming purchased a new position in shares of Black Stone Minerals in the 4th quarter worth about $107,000. Hedge funds and other institutional investors own 14.49% of the company's stock.

Insider Transactions at Black Stone Minerals

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. bought 14,000 shares of Black Stone Minerals stock in a transaction on Friday, September 12th. The stock was acquired at an average cost of $12.59 per share, with a total value of $176,260.00. Following the completion of the acquisition, the chief executive officer owned 3,512,701 shares in the company, valued at approximately $44,224,905.59. This represents a 0.40% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased 163,080 shares of company stock worth $1,983,910 in the last three months. Insiders own 17.80% of the company's stock.

Black Stone Minerals Stock Performance

BSM traded down $0.05 during mid-day trading on Monday, reaching $12.91. 425,002 shares of the company traded hands, compared to its average volume of 459,916. The stock has a market capitalization of $2.73 billion, a P/E ratio of 11.13 and a beta of 0.29. 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, L.P. has a 52-week low of $11.78 and a 52-week high of $15.66. The company's fifty day moving average price is $12.39 and its 200-day moving average price is $13.44.

Black Stone Minerals (NYSE:BSM - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The oil and gas producer reported $0.53 EPS for the quarter, beating analysts' consensus estimates of $0.30 by $0.23. The company had revenue of $159.49 million during the quarter, compared to analysts' expectations of $112.19 million. Black Stone Minerals had a return on equity of 39.67% and a net margin of 61.21%. On average, sell-side analysts expect that Black Stone Minerals, L.P. will post 1.36 EPS for the current year.

Black Stone Minerals Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, August 7th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.3%. Black Stone Minerals's dividend payout ratio (DPR) is presently 103.45%.

Wall Street Analyst Weigh In

Separately, Piper Sandler decreased their target price on shares of Black Stone Minerals from $14.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price 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.