Corient Private Wealth LLC Buys 6,500 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Corient Private Wealth LLC lifted its stake in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 6.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 106,242 shares of the oil and gas producer’s stock after buying an additional 6,500 shares during the period. Corient Private Wealth LLC owned about 0.05% of Black Stone Minerals worth $1,551,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Penn Davis Mcfarland Inc. increased its holdings in 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 purchasing an additional 245,009 shares in the last quarter. Investment Management Associates Inc. ADV grew its holdings in shares of Black Stone Minerals by 30.8% during the fourth quarter. Investment Management Associates Inc. ADV now owns 1,544,182 shares of the oil and gas producer’s stock worth $22,545,000 after purchasing an additional 363,962 shares during the last quarter. Citigroup Inc. increased its stake in shares of Black Stone Minerals by 2.3% in the third quarter. Citigroup Inc. now owns 470,915 shares of the oil and gas producer’s stock valued at $7,111,000 after buying an additional 10,465 shares during the period. HighTower Advisors LLC boosted its position in Black Stone Minerals by 1.0% during the 4th quarter. HighTower Advisors LLC now owns 408,918 shares of the oil and gas producer’s stock worth $5,970,000 after buying an additional 4,090 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in Black Stone Minerals during the 4th quarter worth approximately $4,211,000. 14.49% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BSM has been the subject of several analyst reports. Piper Sandler raised their price target on shares of Black Stone Minerals from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. Royal Bank of Canada raised Black Stone Minerals to a “hold” rating in a report on Friday, March 14th. Finally, StockNews.com cut Black Stone Minerals from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th.

Black Stone Minerals Stock Down 0.3 %

BSM opened at $15.27 on Wednesday. Black Stone Minerals, L.P. has a twelve month low of $13.78 and a twelve month high of $16.92. The company has a fifty day moving average of $15.04 and a 200-day moving average of $14.93. The stock has a market cap of $3.22 billion, a PE ratio of 9.43 and a beta of 0.92.

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

Black Stone Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th were paid a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 9.82%. The ex-dividend date was Tuesday, February 18th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 130.43%.

Black Stone Minerals 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.