Welch & Forbes LLC increased its stake in Black Stone Minerals LP (NYSE:BSM) by 222.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,598 shares of the oil and gas producer’s stock after acquiring an additional 34,892 shares during the quarter. Welch & Forbes LLC’s holdings in Black Stone Minerals were worth $921,000 at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its stake in shares of Black Stone Minerals by 176.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 15,791 shares of the oil and gas producer’s stock valued at $292,000 after acquiring an additional 10,089 shares in the last quarter. California Public Employees Retirement System acquired a new stake in Black Stone Minerals in the 2nd quarter valued at $323,000. Penn Davis Mcfarland Inc. acquired a new stake in Black Stone Minerals in the 2nd quarter valued at $324,000. Citadel Advisors LLC grew its position in Black Stone Minerals by 82.6% in the 1st quarter. Citadel Advisors LLC now owns 24,650 shares of the oil and gas producer’s stock valued at $408,000 after purchasing an additional 11,150 shares during the period. Finally, Royal Bank of Canada grew its position in Black Stone Minerals by 100.5% in the 1st quarter. Royal Bank of Canada now owns 41,899 shares of the oil and gas producer’s stock valued at $694,000 after purchasing an additional 21,000 shares during the period. Institutional investors own 13.21% of the company’s stock.
NYSE BSM opened at $17.25 on Friday. Black Stone Minerals LP has a 12-month low of $16.36 and a 12-month high of $19.29. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market capitalization of $3.51 billion, a P/E ratio of 24.44 and a beta of 0.38.
Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Monday, August 6th. The oil and gas producer reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.08). Black Stone Minerals had a net margin of 17.79% and a return on equity of 9.32%. The business had revenue of $109.31 million during the quarter, compared to analyst estimates of $122.98 million. On average, sell-side analysts expect that Black Stone Minerals LP will post 0.87 earnings per share for the current year.
BSM has been the subject of several research reports. Zacks Investment Research downgraded shares of Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a research report on Friday, July 20th. Stifel Nicolaus set a $21.00 price target on shares of Black Stone Minerals and gave the company a “buy” rating in a research report on Tuesday, August 7th. Finally, Scotiabank raised shares of Black Stone Minerals from a “sector perform” rating to an “outperform” rating in a research report on Monday, June 25th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. Black Stone Minerals currently has an average rating of “Buy” and a consensus target price of $20.00.
In other Black Stone Minerals news, SVP Brock Morris sold 17,400 shares of Black Stone Minerals stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $18.58, for a total transaction of $323,292.00. Following the transaction, the senior vice president now directly owns 299,990 shares of the company’s stock, valued at approximately $5,573,814.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Luke Stevens Putman sold 14,230 shares of Black Stone Minerals stock in a transaction on Tuesday, October 16th. The stock was sold at an average price of $17.58, for a total transaction of $250,163.40. Following the transaction, the senior vice president now directly owns 287,464 shares in the company, valued at $5,053,617.12. The disclosure for this sale can be found here. 25.10% of the stock is owned by insiders.
Black Stone Minerals Profile
Black Stone Minerals, L.P. owns and manages oil and natural gas mineral interests in the United States. The company owns mineral interests in approximately 16.8 million acres, nonparticipating royalty interests in 1.9 million acres, and overriding royalty interests in 2.1 million acres located in 41 states and in 64 onshore basins in the continental United States.
Read More: Market Capitalization – What it Means for Investors
Want to see what other hedge funds are holding BSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Black Stone Minerals LP (NYSE:BSM).
Receive News & Ratings for Black Stone Minerals Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Stone Minerals and related companies with MarketBeat.com's FREE daily email newsletter.