Truist Financial Corp Lowers Stake in Black Stone Minerals, L.P. (NYSE:BSM)

Truist Financial Corp trimmed its holdings in Black Stone Minerals, L.P. (NYSE:BSM) by 38.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 22,288 shares of the oil and gas producer’s stock after selling 13,875 shares during the period. Truist Financial Corp’s holdings in Black Stone Minerals were worth $325,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in BSM. Larson Financial Group LLC acquired a new stake in shares of Black Stone Minerals in the 3rd quarter worth $54,000. JPMorgan Chase & Co. acquired a new stake in Black Stone Minerals in the third quarter valued at about $76,000. Moody National Bank Trust Division lifted its position in Black Stone Minerals by 35.2% in the fourth quarter. Moody National Bank Trust Division now owns 18,913 shares of the oil and gas producer’s stock valued at $276,000 after purchasing an additional 4,924 shares during the period. Hilltop Holdings Inc. boosted its holdings in Black Stone Minerals by 47.3% in the 3rd quarter. Hilltop Holdings Inc. now owns 19,300 shares of the oil and gas producer’s stock valued at $291,000 after purchasing an additional 6,200 shares in the last quarter. Finally, Flagship Harbor Advisors LLC increased its position in Black Stone Minerals by 7.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 24,378 shares of the oil and gas producer’s stock worth $356,000 after purchasing an additional 1,774 shares during the period. Institutional investors and hedge funds own 14.49% of the company’s stock.

Black Stone Minerals Trading Up 0.6 %

Shares of Black Stone Minerals stock opened at $14.61 on Thursday. The company has a 50-day moving average of $14.92 and a two-hundred day moving average of $14.89. Black Stone Minerals, L.P. has a 12-month low of $13.78 and a 12-month high of $16.92. The stock has a market cap of $3.08 billion, a PE ratio of 9.02 and a beta of 0.94.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data on Monday, February 24th. The oil and gas producer reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.21). Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The business had revenue of $83.73 million during the quarter, compared to analyst estimates of $115.46 million. On average, sell-side analysts forecast that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 18th were paid a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.27%. Black Stone Minerals’s dividend payout ratio (DPR) is 130.43%.

Analysts Set New Price Targets

BSM has been the subject of several recent analyst reports. Piper Sandler reduced their price target on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, November 18th. StockNews.com downgraded Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th.

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.