Clark Estates Inc. NY lowered its stake in shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,368 shares of the oil and gas producer's stock after selling 19,432 shares during the quarter. Clark Estates Inc. NY owned approximately 0.08% of Black Stone Minerals worth $2,341,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of BSM. Investment Management Associates Inc. ADV raised its stake in shares of Black Stone Minerals by 30.8% during the fourth quarter. Investment Management Associates Inc. ADV now owns 1,544,182 shares of the oil and gas producer's stock valued at $22,545,000 after purchasing an additional 363,962 shares in the last quarter. Penn Davis Mcfarland Inc. raised its position in Black Stone Minerals by 18.1% in the fourth quarter. Penn Davis Mcfarland Inc. now owns 1,601,182 shares of the oil and gas producer's stock worth $23,377,000 after acquiring an additional 245,009 shares in the last quarter. LMG Wealth Partners LLC bought a new stake in Black Stone Minerals in the fourth quarter worth about $2,194,000. Horizon Kinetics Asset Management LLC raised its position in Black Stone Minerals by 65.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 275,638 shares of the oil and gas producer's stock worth $4,162,000 after acquiring an additional 109,500 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in Black Stone Minerals by 341.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 57,790 shares of the oil and gas producer's stock worth $844,000 after acquiring an additional 44,700 shares in the last quarter. 14.49% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
Several equities research analysts have commented on the stock. Piper Sandler boosted their price target on shares of Black Stone Minerals from $14.00 to $16.00 and gave the stock a "neutral" rating in a research report on Thursday. StockNews.com cut shares of Black Stone Minerals from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th.
Check Out Our Latest Stock Report on Black Stone Minerals
Black Stone Minerals Stock Performance
BSM traded up $0.07 during trading on Friday, reaching $14.75. The company had a trading volume of 362,706 shares, compared to its average volume of 444,712. The firm's 50-day simple moving average is $14.94 and its 200 day simple moving average is $14.89. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 9.10 and a beta of 0.92. Black Stone Minerals, L.P. has a 12-month low of $13.78 and a 12-month high of $16.92.
Black Stone Minerals (NYSE:BSM - Get Free Report) last issued its quarterly earnings results 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). The company had revenue of $83.73 million during the quarter, compared to analysts' expectations of $115.46 million. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. On average, sell-side analysts expect that Black Stone Minerals, L.P. will post 1.36 EPS for the current year.
Black Stone Minerals Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 18th were paid a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.50 dividend on an annualized basis and a yield of 10.17%. Black Stone Minerals's dividend payout ratio is currently 130.43%.
Black Stone Minerals Profile
(
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 1.8 million gross acres, and overriding royalty interests in 1.6 million gross acres located in 41 states in the United States.
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