CIBC Private Wealth Group LLC Trims Stock Position in Black Stone Minerals, L.P. (NYSE:BSM)

CIBC Private Wealth Group LLC lowered its stake in shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 33.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 149,470 shares of the oil and gas producer's stock after selling 74,520 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.07% of Black Stone Minerals worth $2,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BSM. Jones Financial Companies Lllp boosted its holdings in shares of Black Stone Minerals by 100.0% in the 4th quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer's stock valued at $29,000 after buying an additional 1,000 shares in the last quarter. JPMorgan Chase & Co. purchased a new stake in Black Stone Minerals during the third quarter valued at approximately $76,000. Corps Capital Advisors LLC acquired a new stake in Black Stone Minerals in the fourth quarter valued at approximately $231,000. Moody National Bank Trust Division grew its holdings in Black Stone Minerals by 35.2% in the fourth quarter. Moody National Bank Trust Division now owns 18,913 shares of the oil and gas producer's stock worth $276,000 after purchasing an additional 4,924 shares during the last quarter. Finally, Hilltop Holdings Inc. increased its position in shares of Black Stone Minerals by 47.3% during the third quarter. Hilltop Holdings Inc. now owns 19,300 shares of the oil and gas producer's stock worth $291,000 after purchasing an additional 6,200 shares in the last quarter. Hedge funds and other institutional investors own 14.49% of the company's stock.

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Wall Street Analyst Weigh In

BSM has been the subject of a number of recent analyst reports. Royal Bank of Canada raised Black Stone Minerals to a "hold" rating in a research report on Friday, March 14th. Piper Sandler boosted their price target on Black Stone Minerals from $14.00 to $16.00 and gave the stock a "neutral" rating in a research note on Thursday, March 6th. Finally, StockNews.com downgraded shares of Black Stone Minerals from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th.

Black Stone Minerals Stock Performance

Shares of NYSE BSM traded down $0.45 during mid-day trading on Monday, hitting $13.52. The stock had a trading volume of 854,771 shares, compared to its average volume of 454,895. The firm has a market cap of $2.85 billion, a PE ratio of 8.35 and a beta of 0.52. The company has a 50 day moving average of $14.96 and a two-hundred day moving average of $14.94. Black Stone Minerals, L.P. has a twelve month low of $12.80 and a twelve month high of $16.92.

Black Stone Minerals (NYSE:BSM - Get Free Report) last announced its quarterly earnings data on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share for the quarter, missing analysts' consensus estimates of $0.39 by ($0.21). Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The firm had revenue of $83.73 million during the quarter, compared to analyst estimates of $115.46 million. Equities research analysts predict that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 11.09%. The ex-dividend date was Tuesday, February 18th. Black Stone Minerals's payout ratio is 130.43%.

Black Stone Minerals 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.