Zions Bancorporation National Association UT Makes New $1.26 Million Investment in Black Stone Minerals, L.P. (NYSE:BSM)

Key Points

• Zions Bancorporation National Association UT has made a new investment of $1.26 million in Black Stone Minerals, L.P. by acquiring 82,533 shares during the first quarter.
• Insider trading activity revealed that SVP Carrie Pearson Clark sold 36,900 shares, while CEO Thomas L. Carter, Jr. acquired 14,500 shares recently.
• Black Stone Minerals has announced a quarterly dividend of $0.30 per share, with a yield of 9.8% and a payout ratio of 103.45%.

Zions Bancorporation National Association UT bought a new position in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 82,533 shares of the oil and gas producer's stock, valued at approximately $1,260,000.

Other hedge funds have also bought and sold shares of the company. Bristlecone Advisors LLC raised its position in Black Stone Minerals by 8.3% in the first quarter. Bristlecone Advisors LLC now owns 49,347 shares of the oil and gas producer's stock worth $754,000 after acquiring an additional 3,796 shares during the period. AlphaCore Capital LLC raised its holdings in Black Stone Minerals by 34.9% in the 1st quarter. AlphaCore Capital LLC now owns 78,980 shares of the oil and gas producer's stock worth $1,206,000 after purchasing an additional 20,430 shares during the period. PNC Financial Services Group Inc. purchased a new position in Black Stone Minerals during the first quarter valued at $29,000. LPL Financial LLC grew its holdings in Black Stone Minerals by 8.4% during the first quarter. LPL Financial LLC now owns 147,506 shares of the oil and gas producer's stock valued at $2,252,000 after purchasing an additional 11,430 shares during the period. Finally, Cetera Investment Advisers increased its position in Black Stone Minerals by 179.8% in the first quarter. Cetera Investment Advisers now owns 72,803 shares of the oil and gas producer's stock worth $1,112,000 after buying an additional 46,782 shares in the last quarter. Hedge funds and other institutional investors own 14.49% of the company's stock.

Insider Buying and Selling at Black Stone Minerals

In related news, SVP Carrie Pearson Clark sold 36,900 shares of the firm'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 transaction, the senior vice president directly owned 165,857 shares of the company's stock, valued at approximately $2,249,020.92. This trade represents a 18.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas L. Carter, Jr. acquired 14,500 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was acquired at an average cost of $13.52 per share, with a total value of $196,040.00. Following the completion of the purchase, the chief executive officer directly owned 3,349,621 shares in the company, valued at approximately $45,286,875.92. This represents a 0.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 17.80% of the company's stock.

Black Stone Minerals Stock Performance

Shares of NYSE BSM opened at $12.20 on Friday. The firm has a fifty day moving average price of $13.01 and a 200-day moving average price of $13.99. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.22 and a quick ratio of 1.35. The stock has a market cap of $2.58 billion, a PE ratio of 10.52 and a beta of 0.28. Black Stone Minerals, L.P. has a 1 year low of $11.98 and a 1 year high of $15.66.

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

Black Stone Minerals Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, August 7th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 9.8%. Black Stone Minerals's payout ratio is 103.45%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Wall Street Zen downgraded Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Piper Sandler reduced their price objective on shares of Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th.

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.

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