Orchard Capital Management LLC Has $3 Million Holdings in Black Stone Minerals, L.P. (NYSE:BSM)

Orchard Capital Management LLC lessened its stake in Black Stone Minerals, L.P. (NYSE:BSM) by 2.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 191,156 shares of the oil and gas producer’s stock after selling 4,225 shares during the quarter. Orchard Capital Management LLC owned about 0.09% of Black Stone Minerals worth $2,995,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nomura Holdings Inc. acquired a new position in Black Stone Minerals in the fourth quarter valued at about $5,635,000. Prevail Innovative Wealth Advisors LLC acquired a new position in Black Stone Minerals in the first quarter valued at about $2,560,000. Clear Street Markets LLC raised its stake in Black Stone Minerals by 334.8% during the fourth quarter. Clear Street Markets LLC now owns 10,000 shares of the oil and gas producer’s stock worth $160,000 after acquiring an additional 7,700 shares in the last quarter. Hilltop Holdings Inc. raised its stake in Black Stone Minerals by 10.1% during the fourth quarter. Hilltop Holdings Inc. now owns 13,100 shares of the oil and gas producer’s stock worth $209,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Avenir Corp acquired a new position in Black Stone Minerals during the fourth quarter worth about $1,179,000. Institutional investors and hedge funds own 14.49% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. KeyCorp assumed coverage on Black Stone Minerals in a research note on Thursday, June 27th. They set a “sector weight” rating for the company. Piper Sandler lowered their target price on Black Stone Minerals from $17.00 to $15.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Finally, StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Black Stone Minerals currently has a consensus rating of “Hold” and a consensus target price of $17.50.

Insiders Place Their Bets

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

Black Stone Minerals Price Performance

Black Stone Minerals stock opened at $15.00 on Friday. The business has a 50 day moving average of $14.88 and a 200-day moving average of $15.53. Black Stone Minerals, L.P. has a 1 year low of $13.94 and a 1 year high of $18.55. The company has a market capitalization of $3.15 billion, a P/E ratio of 9.74 and a beta of 0.93.

Black Stone Minerals (NYSE:BSM) last announced its earnings results on Monday, August 5th. The oil and gas producer reported $0.29 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.08). Black Stone Minerals had a net margin of 64.88% and a return on equity of 37.93%. The company had revenue of $109.62 million during the quarter, compared to the consensus estimate of $124.24 million. During the same quarter in the previous year, the company earned $0.35 earnings per share. Equities analysts anticipate that Black Stone Minerals, L.P. will post 1.31 EPS for the current year.

Black Stone Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Friday, August 9th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.00%. The ex-dividend date of this dividend was Friday, August 9th. Black Stone Minerals’s payout ratio is 97.40%.

Black Stone Minerals Company Profile

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 1.8 million gross acres, and overriding royalty interests in 1.6 million gross acres located in 41 states in the United States.