Jane Street Group LLC Sells 131,747 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Jane Street Group LLC cut its holdings in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 92.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,783 shares of the oil and gas producer's stock after selling 131,747 shares during the quarter. Jane Street Group LLC's holdings in Black Stone Minerals were worth $163,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Commonwealth Equity Services LLC increased its holdings in shares of Black Stone Minerals by 21.8% during the second quarter. Commonwealth Equity Services LLC now owns 33,915 shares of the oil and gas producer's stock worth $531,000 after buying an additional 6,069 shares in the last quarter. Choreo LLC acquired a new position in Black Stone Minerals in the 2nd quarter worth about $205,000. MAS Advisors LLC raised its position in Black Stone Minerals by 5.4% in the second quarter. MAS Advisors LLC now owns 29,179 shares of the oil and gas producer's stock valued at $457,000 after purchasing an additional 1,506 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in shares of Black Stone Minerals by 61.1% during the second quarter. Evergreen Capital Management LLC now owns 54,156 shares of the oil and gas producer's stock valued at $849,000 after purchasing an additional 20,545 shares in the last quarter. Finally, Magnolia Capital Advisors LLC bought a new stake in shares of Black Stone Minerals during the second quarter worth about $2,480,000. Institutional investors own 14.49% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. StockNews.com upgraded shares of Black Stone Minerals from a "hold" rating to a "buy" rating in a research report on Monday, December 16th. Piper Sandler cut their price target on shares of Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating on the stock in a report on Monday, November 18th.

Black Stone Minerals Price Performance

Shares of Black Stone Minerals stock traded down $0.11 during midday trading on Tuesday, reaching $15.17. The company had a trading volume of 294,657 shares, compared to its average volume of 564,007. The stock has a fifty day moving average price of $14.81 and a 200 day moving average price of $14.94. Black Stone Minerals, L.P. has a fifty-two week low of $13.78 and a fifty-two week high of $16.92. The firm has a market cap of $3.20 billion, a PE ratio of 9.36 and a beta of 0.96.

Black Stone Minerals (NYSE:BSM - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.06. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The firm had revenue of $134.86 million for the quarter, compared to the consensus estimate of $117.68 million. During the same quarter in the previous year, the company earned $0.27 EPS. As a group, sell-side analysts forecast that Black Stone Minerals, L.P. will post 1.32 EPS for the current year.

Black Stone Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a yield of 9.89%. Black Stone Minerals's payout ratio is currently 92.59%.

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.