Flagship Harbor Advisors LLC Increases Holdings in Black Stone Minerals, L.P. (NYSE:BSM)

Flagship Harbor Advisors LLC increased its position in Black Stone Minerals, L.P. (NYSE:BSM) by 6.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,980 shares of the oil and gas producer’s stock after purchasing an additional 1,602 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Black Stone Minerals were worth $397,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of BSM. Cresset Asset Management LLC lifted its stake in Black Stone Minerals by 500.5% during the fourth quarter. Cresset Asset Management LLC now owns 596,853 shares of the oil and gas producer’s stock worth $8,714,000 after purchasing an additional 497,457 shares during the last quarter. Epacria Capital Partners LLC raised its position in Black Stone Minerals by 5.4% in the fourth quarter. Epacria Capital Partners LLC now owns 578,422 shares of the oil and gas producer’s stock worth $8,445,000 after acquiring an additional 29,724 shares in the last quarter. Concorde Financial Corp lifted its stake in Black Stone Minerals by 0.5% during the fourth quarter. Concorde Financial Corp now owns 483,209 shares of the oil and gas producer’s stock valued at $7,055,000 after purchasing an additional 2,202 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of 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 acquiring an additional 4,090 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its position in shares of Black Stone Minerals by 1.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 395,880 shares of the oil and gas producer’s stock valued at $6,045,000 after purchasing an additional 6,627 shares during the period. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Black Stone Minerals Stock Down 1.2%

BSM stock opened at $12.79 on Thursday. Black Stone Minerals, L.P. has a twelve month low of $12.78 and a twelve month high of $16.03. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.08. The company has a market cap of $2.70 billion, a PE ratio of 13.90 and a beta of 0.31. The business’s 50-day simple moving average is $13.81 and its 200 day simple moving average is $14.43.

Black Stone Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 11.73%. The ex-dividend date of this dividend was Thursday, May 8th. Black Stone Minerals’s dividend payout ratio is presently 163.04%.

Insider Activity

In related news, SVP Carrie Pearson Clark sold 36,900 shares of the stock in a transaction dated Thursday, May 29th. The shares were sold at an average price of $13.56, for a total value of $500,364.00. Following the completion of the transaction, the senior vice president now owns 165,857 shares of the company’s stock, valued at $2,249,020.92. This represents a 18.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas L. Carter, Jr. acquired 14,500 shares of the firm’s stock in a transaction on Wednesday, May 21st. The shares were bought at an average cost of $13.52 per share, for a total transaction of $196,040.00. Following the completion of the acquisition, the chief executive officer now directly owns 3,349,621 shares of the company’s stock, valued at approximately $45,286,875.92. This represents a 0.43% increase in their position. The disclosure for this purchase can be found here. 17.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on BSM shares. Royal Bank Of Canada raised Black Stone Minerals to a “hold” rating in a research note on Friday, March 14th. Piper Sandler decreased their target price on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Tuesday, May 13th. Finally, Wall Street Zen lowered shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th.

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.