Sunbelt Securities Inc. Makes New $310,000 Investment in Black Stone Minerals LP (NYSE:BSM)

Sunbelt Securities Inc. acquired a new position in shares of Black Stone Minerals LP (NYSE:BSM) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,000 shares of the oil and gas producer’s stock, valued at approximately $310,000.

A number of other institutional investors also recently added to or reduced their stakes in BSM. Zions Bancorporation N.A. raised its stake in Black Stone Minerals by 131.3% during the second quarter. Zions Bancorporation N.A. now owns 6,012,972 shares of the oil and gas producer’s stock worth $93,201,000 after acquiring an additional 3,413,272 shares in the last quarter. Spirit of America Management Corp NY acquired a new position in Black Stone Minerals during the second quarter worth $5,915,000. Lee Financial Co raised its stake in Black Stone Minerals by 110.1% during the second quarter. Lee Financial Co now owns 319,756 shares of the oil and gas producer’s stock worth $4,956,000 after acquiring an additional 167,566 shares in the last quarter. Kempner Capital Management Inc. raised its stake in Black Stone Minerals by 54.8% during the second quarter. Kempner Capital Management Inc. now owns 237,526 shares of the oil and gas producer’s stock worth $3,682,000 after acquiring an additional 84,037 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Black Stone Minerals during the first quarter worth $697,000. Hedge funds and other institutional investors own 17.88% of the company’s stock.

In other Black Stone Minerals news, Director D Mark Dewalch bought 5,350 shares of the stock in a transaction dated Monday, June 10th. The stock was bought at an average cost of $16.44 per share, for a total transaction of $87,954.00. Following the completion of the purchase, the director now owns 174,272 shares in the company, valued at approximately $2,865,031.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 24.40% of the company’s stock.

BSM has been the subject of several recent analyst reports. Zacks Investment Research upgraded Black Stone Minerals from a “sell” rating to a “hold” rating in a research note on Monday. Citigroup set a $16.00 target price on Black Stone Minerals and gave the company a “buy” rating in a research note on Monday. Royal Bank of Canada started coverage on Black Stone Minerals in a research note on Thursday, April 18th. They issued an “outperform” rating and a $23.00 target price for the company. Finally, ValuEngine lowered Black Stone Minerals from a “hold” rating to a “sell” rating in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $20.25.

Shares of NYSE:BSM traded down $0.06 during midday trading on Thursday, reaching $13.80. The company’s stock had a trading volume of 5,253 shares, compared to its average volume of 205,967. Black Stone Minerals LP has a fifty-two week low of $13.61 and a fifty-two week high of $19.03. The company has a market capitalization of $2.83 billion, a P/E ratio of 9.52 and a beta of 0.58. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 0.52. The stock’s fifty day simple moving average is $15.01.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 22nd. Stockholders of record on Thursday, August 15th will be paid a $0.37 dividend. The ex-dividend date is Wednesday, August 14th. This represents a $1.48 dividend on an annualized basis and a dividend yield of 10.72%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 102.07%.

Black Stone Minerals Company 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 64 onshore basins in the continental United States.

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Institutional Ownership by Quarter for Black Stone Minerals (NYSE:BSM)

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