Raymond James & Associates Raises Position in Black Stone Minerals, L.P. (NYSE:BSM)

Raymond James & Associates raised its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM – Get Rating) by 13.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 349,138 shares of the oil and gas producer’s stock after acquiring an additional 41,066 shares during the period. Raymond James & Associates’ holdings in Black Stone Minerals were worth $5,890,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. UBS Group AG boosted its holdings in Black Stone Minerals by 12,416.2% during the 1st quarter. UBS Group AG now owns 1,587,809 shares of the oil and gas producer’s stock valued at $21,372,000 after acquiring an additional 1,575,123 shares during the period. Epacria Capital Partners LLC bought a new stake in Black Stone Minerals during the 4th quarter valued at $12,149,000. Mayo Clinic purchased a new stake in Black Stone Minerals during the 4th quarter valued at $10,858,000. Investment Management Associates Inc. ADV boosted its position in Black Stone Minerals by 39.1% during the 4th quarter. Investment Management Associates Inc. ADV now owns 984,576 shares of the oil and gas producer’s stock valued at $16,610,000 after buying an additional 276,786 shares during the period. Finally, ING Groep NV grew its holdings in Black Stone Minerals by 235.4% in the 3rd quarter. ING Groep NV now owns 382,300 shares of the oil and gas producer’s stock worth $5,983,000 after acquiring an additional 268,300 shares during the last quarter. 16.46% of the stock is owned by institutional investors.

Black Stone Minerals Trading Up 0.1 %

Shares of BSM opened at $16.40 on Monday. Black Stone Minerals, L.P. has a 1-year low of $12.81 and a 1-year high of $20.24. The firm has a market capitalization of $3.44 billion, a price-to-earnings ratio of 5.94 and a beta of 1.04. The firm’s 50-day moving average price is $15.65 and its 200-day moving average price is $16.39.

Black Stone Minerals (NYSE:BSM – Get Rating) last announced its earnings results on Tuesday, February 21st. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.32. Black Stone Minerals had a return on equity of 54.18% and a net margin of 77.07%. The firm had revenue of $230.38 million during the quarter, compared to analyst estimates of $151.81 million. On average, research analysts forecast that Black Stone Minerals, L.P. will post 1.84 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 19th. Stockholders of record on Friday, May 12th were issued a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 11.59%. The ex-dividend date was Thursday, May 11th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 68.84%.

Analysts Set New Price Targets

Several equities analysts have recently commented on BSM shares. Piper Sandler dropped their target price on shares of Black Stone Minerals from $16.00 to $15.00 in a report on Thursday. Raymond James upped their price target on Black Stone Minerals from $19.00 to $21.00 and gave the company an “outperform” rating in a research report on Friday, April 21st. Finally, StockNews.com began coverage on Black Stone Minerals in a research report on Thursday. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Insider Transactions at Black Stone Minerals

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. purchased 31,800 shares of the stock in a transaction that occurred on Friday, May 5th. The stock was bought at an average cost of $15.53 per share, with a total value of $493,854.00. Following the transaction, the chief executive officer now directly owns 2,652,791 shares in the company, valued at approximately $41,197,844.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Luke Stevens Putman sold 100,000 shares of the stock in a transaction on Thursday, May 4th. The stock was sold at an average price of $15.06, for a total value of $1,506,000.00. Following the sale, the senior vice president now directly owns 486,421 shares of the company’s stock, valued at $7,325,500.26. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Thomas L. Carter, Jr. purchased 31,800 shares of Black Stone Minerals stock in a transaction dated Friday, May 5th. The shares were bought at an average price of $15.53 per share, with a total value of $493,854.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,652,791 shares of the company’s stock, valued at $41,197,844.23. The disclosure for this purchase can be found here. Insiders have acquired 125,450 shares of company stock valued at $1,952,882 in the last three months. 21.10% of the stock is currently owned by company insiders.

Black Stone Minerals Company Profile

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Black Stone Minerals LP is an exploration company. The firm engages in the exploration of oil and natural gas minerals. It focuses on the operation of Louisiana-Mississippi Salt Basins, Western Gulf, Permian Basin, Palo Duro Basin, East Texas Basin, Anadarko Basin, Appalachian Basin, Arkoma Basin, Bend Arch-Fort Worth, and Southwestern Wyoming.