Black Stone Minerals, L.P. (NYSE:BSM) Sees Large Increase in Short Interest

Black Stone Minerals, L.P. (NYSE:BSMGet Free Report) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totalling 3,740,000 shares, a growth of 5.1% from the December 15th total of 3,560,000 shares. Based on an average daily volume of 558,400 shares, the days-to-cover ratio is currently 6.7 days. Currently, 2.2% of the company’s stock are short sold.

Insider Transactions at Black Stone Minerals

In other Black Stone Minerals news, Director D Mark Dewalch purchased 21,703 shares of Black Stone Minerals stock in a transaction dated Thursday, November 16th. The shares were acquired at an average price of $17.14 per share, with a total value of $371,989.42. Following the completion of the transaction, the director now owns 282,582 shares of the company’s stock, valued at $4,843,455.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Black Stone Minerals news, Director D Mark Dewalch purchased 21,703 shares of Black Stone Minerals stock in a transaction dated Thursday, November 16th. The shares were acquired at an average price of $17.14 per share, with a total value of $371,989.42. Following the completion of the transaction, the director now owns 282,582 shares of the company’s stock, valued at $4,843,455.48. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Thomas L. Carter, Jr. bought 25,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The shares were purchased at an average price of $18.21 per share, for a total transaction of $455,250.00. Following the completion of the purchase, the chief executive officer now directly owns 2,727,791 shares of the company’s stock, valued at approximately $49,673,074.11. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 109,703 shares of company stock valued at $1,901,689. 19.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Black Stone Minerals

Several hedge funds have recently added to or reduced their stakes in BSM. NBC Securities Inc. acquired a new stake in shares of Black Stone Minerals in the third quarter valued at approximately $29,000. Money Concepts Capital Corp acquired a new stake in shares of Black Stone Minerals in the fourth quarter valued at approximately $30,000. Venturi Wealth Management LLC acquired a new stake in shares of Black Stone Minerals in the third quarter valued at approximately $31,000. Grove Bank & Trust boosted its holdings in shares of Black Stone Minerals by 100.0% in the second quarter. Grove Bank & Trust now owns 2,000 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 1,000 shares during the period. Finally, Newbridge Financial Services Group Inc. boosted its holdings in shares of Black Stone Minerals by 53.8% in the second quarter. Newbridge Financial Services Group Inc. now owns 2,000 shares of the oil and gas producer’s stock valued at $32,000 after acquiring an additional 700 shares during the period. 13.32% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on BSM shares. Raymond James lowered shares of Black Stone Minerals from an “outperform” rating to a “market perform” rating in a research note on Tuesday, October 24th. StockNews.com started coverage on shares of Black Stone Minerals in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Finally, Piper Sandler upped their target price on shares of Black Stone Minerals from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, November 16th.

Check Out Our Latest Stock Analysis on Black Stone Minerals

Black Stone Minerals Stock Down 0.1 %

Shares of Black Stone Minerals stock opened at $16.13 on Thursday. The firm has a market capitalization of $3.62 billion, a P/E ratio of 7.90 and a beta of 0.95. Black Stone Minerals has a 52 week low of $13.41 and a 52 week high of $18.55. The firm’s 50 day moving average is $16.64 and its two-hundred day moving average is $17.04.

Black Stone Minerals (NYSE:BSMGet Free Report) last announced its quarterly earnings results on Monday, October 30th. The oil and gas producer reported $0.27 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.17). The company had revenue of $109.80 million during the quarter, compared to analysts’ expectations of $135.23 million. Black Stone Minerals had a net margin of 71.68% and a return on equity of 43.64%. As a group, research analysts expect that Black Stone Minerals will post 1.72 earnings per share for the current fiscal year.

About Black Stone Minerals

(Get Free Report)

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 16.8 million gross acres, and overriding royalty interests in 1.8 million gross acres located in 41 states in the United States.

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