Cullen Investment Group LTD. Takes Position in Black Stone Minerals, L.P. (NYSE:BSM)

Cullen Investment Group LTD. bought a new stake in shares of Black Stone Minerals, L.P. (NYSE:BSM) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,424 shares of the oil and gas producer’s stock, valued at approximately $214,000.

Several other hedge funds have also modified their holdings of BSM. NBC Securities Inc. acquired a new position in Black Stone Minerals during the third quarter valued at $29,000. Money Concepts Capital Corp acquired a new position in Black Stone Minerals during the fourth quarter valued at $30,000. Venturi Wealth Management LLC acquired a new position in Black Stone Minerals during the third quarter valued at $31,000. HBC Financial Services PLLC acquired a new position in Black Stone Minerals during the fourth quarter valued at $31,000. Finally, Clear Street Markets LLC acquired a new position in Black Stone Minerals during the third quarter valued at $40,000. 14.49% of the stock is owned by hedge funds and other institutional investors.

Black Stone Minerals Trading Down 1.3 %

Shares of NYSE:BSM opened at $15.53 on Wednesday. The firm has a market capitalization of $3.27 billion, a PE ratio of 8.30 and a beta of 0.92. Black Stone Minerals, L.P. has a 1-year low of $14.80 and a 1-year high of $18.55. The business’s 50 day moving average is $15.73 and its 200-day moving average is $16.50.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.15. The business had revenue of $190.84 million for the quarter, compared to analysts’ expectations of $142.67 million. Black Stone Minerals had a return on equity of 42.38% and a net margin of 70.46%. During the same period in the previous year, the business posted $0.71 earnings per share. On average, sell-side analysts predict that Black Stone Minerals, L.P. will post 1.42 EPS for the current year.

Black Stone Minerals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Shareholders of record on Friday, February 16th were given a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 12.23%. The ex-dividend date of this dividend was Thursday, February 15th. Black Stone Minerals’s dividend payout ratio (DPR) is 101.60%.

Wall Street Analysts Forecast Growth

BSM has been the topic of several recent analyst reports. Stifel Nicolaus dropped their price target on Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd. Piper Sandler upped their target price on Black Stone Minerals from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th.

Insider Buying and Selling at Black Stone Minerals

In other Black Stone Minerals news, Director D Mark Dewalch acquired 3,250 shares of Black Stone Minerals stock in a transaction on Monday, February 26th. The shares were bought at an average price of $15.47 per share, with a total value of $50,277.50. Following the completion of the purchase, the director now owns 320,436 shares in the company, valued at $4,957,144.92. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 19.60% of the company’s stock.

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.