GraniteShares Advisors LLC Purchases 23,610 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

GraniteShares Advisors LLC boosted its position in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 16.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,027 shares of the oil and gas producer's stock after buying an additional 23,610 shares during the quarter. Black Stone Minerals makes up approximately 1.6% of GraniteShares Advisors LLC's portfolio, making the stock its 26th biggest position. GraniteShares Advisors LLC owned about 0.08% of Black Stone Minerals worth $2,468,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BSM. International Assets Investment Management LLC purchased a new stake in Black Stone Minerals in the third quarter worth approximately $8,240,000. JFS Wealth Advisors LLC purchased a new stake in shares of Black Stone Minerals during the third quarter valued at approximately $494,000. Fiducient Advisors LLC purchased a new stake in shares of Black Stone Minerals during the third quarter valued at approximately $12,253,000. Indie Asset Partners LLC purchased a new stake in shares of Black Stone Minerals during the third quarter valued at approximately $234,000. Finally, ING Groep NV boosted its stake in shares of Black Stone Minerals by 5.9% during the third quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer's stock valued at $9,859,000 after purchasing an additional 36,300 shares during the period. Hedge funds and other institutional investors own 14.49% of the company's stock.

Black Stone Minerals Stock Performance

Shares of Black Stone Minerals stock traded down $0.20 during midday trading on Friday, reaching $14.97. 813,662 shares of the company's stock traded hands, compared to its average volume of 445,027. The company has a market cap of $3.15 billion, a PE ratio of 9.24 and a beta of 0.94. The stock has a 50 day moving average of $14.90 and a 200-day moving average of $14.89. Black Stone Minerals, L.P. has a 12 month low of $13.78 and a 12 month high of $16.92.

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

Black Stone Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 18th were issued a dividend of $0.375 per share. The ex-dividend date was Tuesday, February 18th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.02%. Black Stone Minerals's dividend payout ratio is presently 130.43%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. StockNews.com lowered Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Tuesday. Piper Sandler dropped their price objective on Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating for the company in a research note on Monday, November 18th.

About Black Stone Minerals

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.