Wells Fargo & Company MN Purchases 9,900 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Wells Fargo & Company MN raised its position in Black Stone Minerals, L.P. (NYSE:BSM) by 13.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 85,726 shares of the oil and gas producer’s stock after buying an additional 9,900 shares during the period. Wells Fargo & Company MN’s holdings in Black Stone Minerals were worth $1,252,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of BSM. Jones Financial Companies Lllp raised its position in Black Stone Minerals by 100.0% in the fourth quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 1,000 shares during the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Black Stone Minerals in the third quarter valued at about $76,000. Corps Capital Advisors LLC acquired a new stake in shares of Black Stone Minerals in the fourth quarter valued at about $231,000. Moody National Bank Trust Division increased its stake in shares of 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 buying an additional 4,924 shares during the period. Finally, Colonial River Investments LLC increased its stake in shares of Black Stone Minerals by 10.2% in the fourth quarter. Colonial River Investments LLC now owns 19,415 shares of the oil and gas producer’s stock valued at $283,000 after buying an additional 1,790 shares during the period. 14.49% of the stock is currently owned by institutional investors.

Black Stone Minerals Stock Up 1.0 %

NYSE:BSM opened at $14.62 on Tuesday. Black Stone Minerals, L.P. has a twelve month low of $12.80 and a twelve month high of $16.92. The company has a fifty day moving average of $14.70 and a 200-day moving average of $14.83. The firm has a market capitalization of $3.09 billion, a P/E ratio of 9.02 and a beta of 0.52.

Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share (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 company had revenue of $83.73 million for the quarter, compared to analyst estimates of $115.46 million. On average, analysts anticipate that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Investors of record on Thursday, May 8th will be given a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 10.26%. Black Stone Minerals’s payout ratio is presently 130.43%.

Analyst Ratings Changes

Several brokerages have recently weighed in on BSM. Royal Bank of Canada raised Black Stone Minerals to a “hold” rating in a research note on Friday, March 14th. Piper Sandler decreased their price target on Black Stone Minerals from $16.00 to $15.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. 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 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.