Cambridge Investment Research Advisors Inc. increased its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM – Get Rating) by 4.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 388,864 shares of the oil and gas producer's stock after buying an additional 14,873 shares during the quarter. Cambridge Investment Research Advisors Inc. owned 0.19% of Black Stone Minerals worth $5,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CI Investments Inc. acquired a new stake in Black Stone Minerals during the 1st quarter worth about $40,000. Chilton Capital Management LLC acquired a new stake in Black Stone Minerals during the 4th quarter worth about $71,000. Covestor Ltd acquired a new stake in Black Stone Minerals during the 1st quarter worth about $77,000. Guardian Wealth Management Inc. acquired a new stake in Black Stone Minerals during the 4th quarter worth about $102,000. Finally, Linscomb & Williams Inc. lifted its position in Black Stone Minerals by 7.3% during the 1st quarter. Linscomb & Williams Inc. now owns 11,801 shares of the oil and gas producer's stock worth $159,000 after acquiring an additional 801 shares during the period. 15.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. purchased 25,000 shares of Black Stone Minerals stock in a transaction that occurred on Wednesday, September 14th. The stock was bought at an average price of $16.39 per share, with a total value of $409,750.00. Following the acquisition, the chief executive officer now owns 2,273,012 shares of the company's stock, valued at approximately $37,254,666.68. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Thomas L. Carter, Jr. acquired 25,000 shares of the business's stock in a transaction on Wednesday, September 14th. The stock was bought at an average cost of $16.39 per share, for a total transaction of $409,750.00. Following the purchase, the chief executive officer now owns 2,273,012 shares in the company, valued at $37,254,666.68. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas L. Carter, Jr. acquired 20,000 shares of the business's stock in a transaction on Thursday, August 4th. The shares were purchased at an average price of $14.90 per share, with a total value of $298,000.00. Following the completion of the purchase, the chief executive officer now owns 2,168,012 shares in the company, valued at approximately $32,303,378.80. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 70,000 shares of company stock valued at $1,114,500. 21.10% of the stock is owned by company insiders.

Black Stone Minerals Stock Performance

Black Stone Minerals (NYSE:BSM – Get Rating) last released its quarterly earnings results on Monday, August 1st. The oil and gas producer reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. The company had revenue of $180.37 million during the quarter, compared to analysts' expectations of $156.08 million. Black Stone Minerals had a return on equity of 41.83% and a net margin of 60.34%. During the same quarter in the prior year, the firm posted $0.25 EPS. On average, equities analysts expect that Black Stone Minerals, L.P. will post 1.65 EPS for the current year.

Black Stone Minerals Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 19th. Investors of record on Friday, August 12th were issued a $0.42 dividend. This is a boost from Black Stone Minerals's previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.68 dividend on an annualized basis and a yield of 11.31%. Black Stone Minerals's dividend payout ratio is presently 142.37%.

Wall Street Analyst Weigh In

A number of analysts have commented on BSM shares. KeyCorp started coverage on Black Stone Minerals in a research report on Monday, September 19th. They set an "overweight" rating and a $22.00 price target for the company. TheStreet raised Black Stone Minerals from a "c+" rating to a "b" rating in a report on Friday, September 2nd. Finally, StockNews.com raised Black Stone Minerals from a "hold" rating to a "buy" rating in a report on Saturday, August 6th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $19.75.

About Black Stone Minerals

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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 1.7 million gross acres located in 41 states in the United States.

Further Reading

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