Black Stone Minerals, L.P. (NYSE:BSM) Shares Sold by Moors & Cabot Inc.

Key Points

• Moors & Cabot Inc. reduced its holdings in Black Stone Minerals, L.P. by 36.6% in Q1, now owning 62,100 shares valued at approximately $948,000.
• Black Stone Minerals recently announced a quarterly dividend of $0.30, translating to a 9.6% yield and a payout ratio of 163.04%.
• Analyst reviews reflect a downgrade of Black Stone Minerals from a "buy" to a "hold" rating, with Piper Sandler lowering the target price from $15.00 to $14.00.

Moors & Cabot Inc. reduced its holdings in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 36.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 62,100 shares of the oil and gas producer's stock after selling 35,850 shares during the period. Moors & Cabot Inc.'s holdings in Black Stone Minerals were worth $948,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Penn Davis Mcfarland Inc. lifted its position in Black Stone Minerals by 16.3% during the first quarter. Penn Davis Mcfarland Inc. now owns 1,861,741 shares of the oil and gas producer's stock worth $28,429,000 after buying an additional 260,559 shares in the last quarter. Cresset Asset Management LLC lifted its position in Black Stone Minerals by 500.5% during the fourth quarter. Cresset Asset Management LLC now owns 596,853 shares of the oil and gas producer's stock worth $8,714,000 after buying an additional 497,457 shares in the last quarter. Epacria Capital Partners LLC lifted its position in Black Stone Minerals by 5.4% during the fourth quarter. Epacria Capital Partners LLC now owns 578,422 shares of the oil and gas producer's stock worth $8,445,000 after buying an additional 29,724 shares in the last quarter. Concorde Financial Corp lifted its position in Black Stone Minerals by 0.5% during the fourth quarter. Concorde Financial Corp now owns 483,209 shares of the oil and gas producer's stock worth $7,055,000 after buying an additional 2,202 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its position in Black Stone Minerals by 1.7% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 395,880 shares of the oil and gas producer's stock worth $6,045,000 after buying an additional 6,627 shares in the last quarter. Institutional investors and hedge funds own 14.49% of the company's stock.

Black Stone Minerals Trading Up 0.4%

NYSE:BSM traded up $0.05 on Thursday, reaching $12.47. The company's stock had a trading volume of 47,358 shares, compared to its average volume of 444,613. Black Stone Minerals, L.P. has a 12-month low of $11.98 and a 12-month high of $15.66. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.08. The firm has a market cap of $2.63 billion, a price-to-earnings ratio of 10.75 and a beta of 0.28. The stock has a 50 day moving average price of $13.06 and a 200 day moving average price of $14.05.

Black Stone Minerals (NYSE:BSM - Get Free Report) last posted its earnings results 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 for the quarter, compared to the consensus estimate of $112.19 million. Black Stone Minerals had a return on equity of 39.45% and a net margin of 61.21%. On average, equities analysts anticipate that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, August 7th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 9.6%. Black Stone Minerals's dividend payout ratio is presently 163.04%.

Insider Buying and Selling at Black Stone Minerals

In other news, CEO Thomas L. Carter, Jr. acquired 14,500 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The shares were purchased at an average price of $13.52 per share, for a total transaction of $196,040.00. Following the acquisition, the chief executive officer owned 3,349,621 shares of the company's stock, valued at $45,286,875.92. This represents a 0.43% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Carrie Pearson Clark sold 36,900 shares of the business's stock in a transaction on Thursday, May 29th. The shares were sold at an average price of $13.56, for a total value of $500,364.00. Following the completion of the sale, the senior vice president owned 165,857 shares in the company, valued at $2,249,020.92. This represents a 18.20% decrease in their position. The disclosure for this sale can be found here. 17.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BSM has been the topic of a number of analyst reports. Piper Sandler reduced their price objective on Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating on the stock in a research report on Tuesday, May 13th. Wall Street Zen downgraded Black Stone Minerals from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th.

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.