International Assets Investment Management LLC Boosts Stake in Black Stone Minerals, L.P. (NYSE:BSM)

International Assets Investment Management LLC lifted its holdings in Black Stone Minerals, L.P. (NYSE:BSM) by 1,296.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,647 shares of the oil and gas producer’s stock after buying an additional 207,634 shares during the quarter. International Assets Investment Management LLC owned 0.10% of Black Stone Minerals worth $3,569,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. HighTower Advisors LLC boosted its stake in shares of Black Stone Minerals by 18.5% in the third quarter. HighTower Advisors LLC now owns 361,904 shares of the oil and gas producer’s stock valued at $6,239,000 after buying an additional 56,468 shares in the last quarter. Citigroup Inc. boosted its stake in shares of Black Stone Minerals by 9,778.6% in the third quarter. Citigroup Inc. now owns 39,218 shares of the oil and gas producer’s stock valued at $676,000 after buying an additional 38,821 shares in the last quarter. ING Groep NV boosted its stake in shares of Black Stone Minerals by 50.8% in the third quarter. ING Groep NV now owns 384,800 shares of the oil and gas producer’s stock valued at $6,630,000 after buying an additional 129,600 shares in the last quarter. Counterpoint Mutual Funds LLC purchased a new stake in shares of Black Stone Minerals in the third quarter valued at approximately $115,000. Finally, Global Retirement Partners LLC purchased a new stake in shares of Black Stone Minerals in the fourth quarter valued at approximately $135,000. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Black Stone Minerals

In related news, Director D Mark Dewalch acquired 3,250 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired 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 directly owns 320,436 shares in the company, valued at $4,957,144.92. The purchase was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 19.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on BSM. Stifel Nicolaus lowered their target price on Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating on the stock in a report on Tuesday, January 23rd. Piper Sandler upped their target price on Black Stone Minerals from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 7th.

Black Stone Minerals Stock Performance

Black Stone Minerals stock opened at $15.72 on Thursday. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 8.41 and a beta of 0.92. Black Stone Minerals, L.P. has a fifty-two week low of $14.80 and a fifty-two week high of $18.55. The stock’s fifty day moving average is $15.73 and its two-hundred day moving average is $16.50.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.65 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 analyst estimates 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 quarter last year, the company earned $0.71 earnings per share. As a group, sell-side analysts forecast that Black Stone Minerals, L.P. will post 1.42 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 16th were paid a dividend of $0.475 per share. This represents a $1.90 dividend on an annualized basis and a dividend yield of 12.09%. The ex-dividend date was Thursday, February 15th. Black Stone Minerals’s payout ratio is currently 101.60%.

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.