Clear Harbor Asset Management LLC Has $786,000 Holdings in Black Stone Minerals, L.P. (NYSE:BSM)

28 Oct 2024, 05:53 by Teresa Graham · The Cerbat Gem

Clear Harbor Asset Management LLC cut its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM – Free Report) by 5.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 52,032 shares of the oil and gas producer’s stock after selling 2,925 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Black Stone Minerals were worth $786,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Prevail Innovative Wealth Advisors LLC lifted its holdings in shares of Black Stone Minerals by 25.7% during the 2nd quarter. Prevail Innovative Wealth Advisors LLC now owns 201,336 shares of the oil and gas producer’s stock worth $3,155,000 after acquiring an additional 41,136 shares during the period. Magnolia Capital Advisors LLC acquired a new stake in shares of Black Stone Minerals in the 2nd quarter valued at $2,480,000. GraniteShares Advisors LLC increased its stake in shares of Black Stone Minerals by 14.2% in the 2nd quarter. GraniteShares Advisors LLC now owns 121,795 shares of the oil and gas producer’s stock valued at $1,909,000 after purchasing an additional 15,188 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Black Stone Minerals by 8.4% during the 1st quarter. Tidal Investments LLC now owns 90,566 shares of the oil and gas producer’s stock worth $1,447,000 after buying an additional 7,006 shares in the last quarter. Finally, Texas Capital Bank Wealth Management Services Inc lifted its position in shares of Black Stone Minerals by 200.0% during the 1st quarter. Texas Capital Bank Wealth Management Services Inc now owns 60,000 shares of the oil and gas producer’s stock worth $959,000 after buying an additional 40,000 shares during the last quarter. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Black Stone Minerals

In other news, CEO Thomas L. Carter, Jr. bought 100,000 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was acquired at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the transaction, the chief executive officer now owns 3,133,128 shares of the company’s stock, valued at $44,239,767.36. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director D Mark Dewalch acquired 34,200 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $14.62 per share, for a total transaction of $500,004.00. Following the completion of the acquisition, the director now owns 357,005 shares of the company’s stock, valued at approximately $5,219,413.10. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas L. Carter, Jr. acquired 100,000 shares of Black Stone Minerals stock in a transaction on Friday, September 6th. The stock was purchased at an average cost of $14.12 per share, with a total value of $1,412,000.00. Following the purchase, the chief executive officer now directly owns 3,133,128 shares of the company’s stock, valued at approximately $44,239,767.36. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 19.60% of the stock is owned by corporate insiders.

Black Stone Minerals Price Performance

Black Stone Minerals stock opened at $14.92 on Monday. The business has a 50 day moving average of $14.89 and a 200-day moving average of $15.39. The company has a market capitalization of $3.14 billion, a P/E ratio of 9.69 and a beta of 0.93. Black Stone Minerals, L.P. has a 1 year low of $13.94 and a 1 year high of $18.55.

Black Stone Minerals (NYSE:BSM – Get Free Report) last issued its quarterly earnings results on Monday, August 5th. The oil and gas producer reported $0.29 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.08). The business had revenue of $109.62 million for the quarter, compared to analyst estimates of $124.24 million. Black Stone Minerals had a return on equity of 37.93% and a net margin of 64.88%. During the same quarter last year, the firm posted $0.35 EPS. Equities analysts anticipate that Black Stone Minerals, L.P. will post 1.31 EPS for the current year.

Black Stone Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Friday, November 8th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.05%. Black Stone Minerals’s dividend payout ratio (DPR) is 97.40%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BSM. Piper Sandler decreased their target price on Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th.

Get Our Latest Report on BSM

Black Stone Minerals Company Profile

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