Zions Bancorporation National Association UT Takes Position 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 shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 82,533 shares of the oil and gas producer's stock, valued at approximately $1,260,000.

Several other hedge funds have also made changes to their positions in BSM. Bristlecone Advisors LLC lifted its position in shares of Black Stone Minerals by 8.3% during the 1st quarter. Bristlecone Advisors LLC now owns 49,347 shares of the oil and gas producer's stock valued at $754,000 after acquiring an additional 3,796 shares during the period. AlphaCore Capital LLC lifted its position in shares of Black Stone Minerals by 34.9% during the 1st quarter. AlphaCore Capital LLC now owns 78,980 shares of the oil and gas producer's stock valued at $1,206,000 after acquiring an additional 20,430 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of Black Stone Minerals during the 1st quarter valued at approximately $29,000. LPL Financial LLC lifted its position in shares of Black Stone Minerals by 8.4% during the 1st quarter. LPL Financial LLC now owns 147,506 shares of the oil and gas producer's stock valued at $2,252,000 after acquiring an additional 11,430 shares during the period. Finally, Cetera Investment Advisers lifted its position in shares of Black Stone Minerals by 179.8% during the 1st quarter. Cetera Investment Advisers now owns 72,803 shares of the oil and gas producer's stock valued at $1,112,000 after acquiring an additional 46,782 shares during the period. Institutional investors and hedge funds own 14.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on BSM shares. Piper Sandler dropped their price objective on shares of Black Stone Minerals from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday. Wall Street Zen cut shares of Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th.

Insider Buying and Selling

In other news, CEO Thomas L. Carter, Jr. bought 27,500 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average price of $12.20 per share, for a total transaction of $335,500.00. Following the acquisition, the chief executive officer directly owned 3,396,831 shares of the company's stock, valued at $41,441,338.20. The trade was a 0.82% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Carrie Pearson Clark sold 36,900 shares of Black Stone Minerals stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $13.56, for a total transaction of $500,364.00. Following the completion of the transaction, the senior vice president owned 165,857 shares in the company, valued at $2,249,020.92. This trade represents a 18.20% decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 95,910 shares of company stock valued at $1,189,002 in the last ninety days. Company insiders own 17.80% of the company's stock.

Black Stone Minerals Stock Down 1.5%

Shares of Black Stone Minerals stock traded down $0.20 during trading hours on Thursday, hitting $12.45. 555,437 shares of the company's stock traded hands, compared to its average volume of 592,350. The stock has a 50 day simple moving average of $12.91 and a 200-day simple moving average of $13.93. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.12. The company has a market cap of $2.63 billion, a PE ratio of 10.74 and a beta of 0.28. Black Stone Minerals, L.P. has a twelve month low of $11.96 and a twelve month high of $15.66.

Black Stone Minerals (NYSE:BSM - Get Free Report) last released its quarterly earnings data on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share 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 analyst estimates of $112.19 million. Equities research 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 company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Investors of record on Thursday, August 7th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 9.6%. Black Stone Minerals's dividend payout ratio is 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.