Black Stone Minerals, L.P. (NYSE:BSM) Holdings Trimmed by Bank of America Corp DE

Bank of America Corp DE trimmed its position in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 13.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,947,202 shares of the oil and gas producer’s stock after selling 302,700 shares during the period. Bank of America Corp DE’s holdings in Black Stone Minerals were worth $28,429,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its position in Black Stone Minerals by 100.0% during the 4th quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer’s stock worth $29,000 after purchasing an additional 1,000 shares in the last quarter. JPMorgan Chase & Co. purchased a new position in Black Stone Minerals during the 3rd quarter worth approximately $76,000. Virtus ETF Advisers LLC grew its position in Black Stone Minerals by 14.1% during the 4th quarter. Virtus ETF Advisers LLC now owns 11,838 shares of the oil and gas producer’s stock worth $173,000 after purchasing an additional 1,463 shares in the last quarter. Jump Financial LLC purchased a new position in Black Stone Minerals during the 4th quarter worth approximately $185,000. Finally, Annandale Capital LLC grew its holdings in shares of Black Stone Minerals by 5.5% during the 4th quarter. Annandale Capital LLC now owns 14,382 shares of the oil and gas producer’s stock valued at $210,000 after acquiring an additional 747 shares in the last quarter. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

BSM has been the topic of several research analyst reports. Royal Bank of Canada upgraded shares of Black Stone Minerals to a “hold” rating in a report on Friday, March 14th. Piper Sandler lowered their price target on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Tuesday, May 13th. Finally, StockNews.com cut shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Thursday.

Black Stone Minerals Stock Down 0.9%

Black Stone Minerals stock opened at $13.63 on Friday. The company’s fifty day simple moving average is $14.45 and its 200-day simple moving average is $14.74. Black Stone Minerals, L.P. has a 12 month low of $12.80 and a 12 month high of $16.31. The stock has a market cap of $2.88 billion, a P/E ratio of 8.41 and a beta of 0.34.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data 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). The business had revenue of $83.73 million during the quarter, compared to the consensus estimate of $115.46 million. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. On average, equities research analysts expect that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were issued a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 11.01%. The ex-dividend date of this dividend was Thursday, May 8th. Black Stone Minerals’s dividend payout ratio is presently 163.04%.

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.