Gruss & Co. Inc. Sells 90,000 Shares of Black Stone Minerals LP (NYSE:BSM)

Share on StockTwits

Gruss & Co. Inc. cut its stake in shares of Black Stone Minerals LP (NYSE:BSM) by 37.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 152,400 shares of the oil and gas producer’s stock after selling 90,000 shares during the quarter. Black Stone Minerals comprises about 2.6% of Gruss & Co. Inc.’s investment portfolio, making the stock its 13th largest position. Gruss & Co. Inc. owned approximately 0.07% of Black Stone Minerals worth $2,170,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Lenox Wealth Advisors LLC purchased a new position in shares of Black Stone Minerals during the 3rd quarter worth about $36,000. Tower Research Capital LLC TRC purchased a new position in shares of Black Stone Minerals during the 3rd quarter worth about $61,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its holdings in shares of Black Stone Minerals by 275.0% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 15,000 shares of the oil and gas producer’s stock worth $214,000 after acquiring an additional 11,000 shares during the period. Sprott Inc. raised its holdings in Black Stone Minerals by 6.8% in the second quarter. Sprott Inc. now owns 14,197 shares of the oil and gas producer’s stock valued at $220,000 after buying an additional 900 shares during the period. Finally, BBVA USA Bancshares Inc. purchased a new position in Black Stone Minerals in the third quarter valued at approximately $295,000. 23.88% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider (Rick) Anthon Richard purchased 6,250,000 shares of Black Stone Minerals stock in a transaction dated Thursday, October 17th. The stock was acquired at an average cost of $0.01 per share, for a total transaction of $50,000.00. Insiders own 24.40% of the company’s stock.

Several research firms recently commented on BSM. ValuEngine upgraded shares of Black Stone Minerals from a “sell” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Co began coverage on shares of Black Stone Minerals in a research report on Friday, October 4th. They issued a “market perform” rating and a $19.00 price objective for the company. Citigroup set a $16.00 price objective on shares of Black Stone Minerals and gave the company a “buy” rating in a research report on Monday, August 12th. TheStreet downgraded shares of Black Stone Minerals from a “b-” rating to a “c+” rating in a research report on Friday, August 23rd. Finally, Scotiabank downgraded shares of Black Stone Minerals from an “outperform” rating to a “sector perform” rating and set a $14.00 price objective for the company. in a research report on Tuesday, November 26th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $18.33.

Black Stone Minerals stock traded up $0.17 during mid-day trading on Wednesday, reaching $11.92. The company’s stock had a trading volume of 214,437 shares, compared to its average volume of 218,067. The company has a current ratio of 5.27, a quick ratio of 5.27 and a debt-to-equity ratio of 0.49. The business has a 50 day moving average price of $12.72 and a 200-day moving average price of $14.44. Black Stone Minerals LP has a twelve month low of $11.25 and a twelve month high of $18.77. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 8.22 and a beta of 0.53.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.32 EPS for the quarter, topping the consensus estimate of $0.28 by $0.04. Black Stone Minerals had a net margin of 48.19% and a return on equity of 32.46%. The firm had revenue of $137.37 million for the quarter, compared to analysts’ expectations of $137.62 million. On average, equities analysts expect that Black Stone Minerals LP will post 1 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 21st. Shareholders of record on Thursday, November 14th were paid a dividend of $0.37 per share. The ex-dividend date of this dividend was Wednesday, November 13th. This represents a $1.48 annualized dividend and a yield of 12.42%. 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.

Featured Article: Limitations of the P/E Growth ratio

Institutional Ownership by Quarter for Black Stone Minerals (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.