Raymond James Financial Inc. Takes $4.21 Million Position in Black Stone Minerals, L.P. (NYSE:BSM)

Raymond James Financial Inc. bought a new position in shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 288,412 shares of the oil and gas producer's stock, valued at approximately $4,211,000. Raymond James Financial Inc. owned 0.14% of Black Stone Minerals at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. acquired a new position in shares of Black Stone Minerals during the third quarter worth approximately $76,000. Penn Davis Mcfarland Inc. raised its holdings in shares of Black Stone Minerals by 18.1% in the 4th 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 during the last quarter. Stifel Financial Corp lifted its position in Black Stone Minerals by 9.6% in the 3rd quarter. Stifel Financial Corp now owns 173,775 shares of the oil and gas producer's stock valued at $2,624,000 after acquiring an additional 15,236 shares in the last quarter. Jones Financial Companies Lllp lifted its position in 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 acquiring an additional 1,000 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in Black Stone Minerals by 341.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 57,790 shares of the oil and gas producer's stock valued at $844,000 after purchasing an additional 44,700 shares during the last quarter. 14.49% of the stock is owned by institutional investors and hedge funds.

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Black Stone Minerals Stock Performance

Shares of Black Stone Minerals stock traded down $0.06 during mid-day trading on Friday, hitting $15.23. 216,424 shares of the stock were exchanged, compared to its average volume of 453,441. The company has a market capitalization of $3.22 billion, a P/E ratio of 9.40 and a beta of 0.92. The company has a 50-day simple moving average of $15.03 and a 200 day simple moving average of $14.95. 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 posted its quarterly earnings data on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.21). Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. The business had revenue of $83.73 million during the quarter, compared to analysts' expectations of $115.46 million. Analysts predict that Black Stone Minerals, L.P. will post 1.36 EPS for the current year.

Black Stone Minerals Announces Dividend

The business also recently disclosed 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 yield of 9.85%. Black Stone Minerals's dividend payout ratio (DPR) is presently 130.43%.

Analysts Set New Price Targets

Several brokerages have recently commented on BSM. StockNews.com downgraded Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Piper Sandler increased their price target on Black Stone Minerals from $14.00 to $16.00 and gave the company a "neutral" rating in a research report on Thursday, March 6th. Finally, Royal Bank of Canada raised shares of Black Stone Minerals to a "hold" rating in a report on Friday, March 14th.

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.