First Trust Advisors LP raised its position in Black Stone Minerals LP (NYSE:BSM) by 10.6% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 263,275 shares of the oil and gas producer’s stock after purchasing an additional 25,159 shares during the period. First Trust Advisors LP owned about 0.13% of Black Stone Minerals worth $4,644,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Jane Street Group LLC acquired a new position in shares of Black Stone Minerals during the fourth quarter valued at about $183,000. Welch & Forbes LLC lifted its stake in shares of Black Stone Minerals by 34.5% during the 4th quarter. Welch & Forbes LLC now owns 68,044 shares of the oil and gas producer’s stock valued at $1,053,000 after buying an additional 17,446 shares in the last quarter. CI Investments Inc. purchased a new stake in shares of Black Stone Minerals during the 4th quarter valued at approximately $119,987,000. Abacus Planning Group Inc. purchased a new stake in Black Stone Minerals in the 4th quarter worth approximately $743,000. Finally, Kayne Anderson Capital Advisors LP purchased a new stake in Black Stone Minerals in the 4th quarter worth approximately $468,000. 15.80% of the stock is currently owned by institutional investors.
BSM has been the topic of a number of recent analyst reports. Royal Bank of Canada initiated coverage on shares of Black Stone Minerals in a report on Thursday, April 18th. They issued an “outperform” rating and a $23.00 price target on the stock. Zacks Investment Research lowered shares of Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 20th. Finally, Raymond James set a $22.00 price target on shares of Black Stone Minerals and gave the company a “buy” rating in a report on Thursday, March 7th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $21.50.
In related news, SVP Luke Stevens Putman sold 18,799 shares of the stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $17.48, for a total transaction of $328,606.52. Following the transaction, the senior vice president now directly owns 266,759 shares in the company, valued at $4,662,947.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Holbrook F. Dorn sold 15,503 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $18.51, for a total value of $286,960.53. Following the completion of the transaction, the senior vice president now owns 730,274 shares in the company, valued at $13,517,371.74. The disclosure for this sale can be found here. Insiders have sold 83,342 shares of company stock valued at $1,488,347 in the last 90 days. Company insiders own 24.40% of the company’s stock.
Shares of NYSE BSM opened at $16.26 on Wednesday. Black Stone Minerals LP has a 12 month low of $15.23 and a 12 month high of $19.29. The company has a market cap of $3.36 billion, a PE ratio of 11.21 and a beta of 0.67. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.33 and a current ratio of 2.33.
Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings data on Monday, May 6th. The oil and gas producer reported $0.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.23). The company had revenue of $83.81 million during the quarter, compared to analysts’ expectations of $131.96 million. Black Stone Minerals had a net margin of 36.75% and a return on equity of 25.55%. As a group, analysts forecast that Black Stone Minerals LP will post 0.86 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 16th were paid a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 9.10%. The ex-dividend date was Wednesday, May 15th. Black Stone Minerals’s dividend payout ratio is currently 102.07%.
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Black Stone Minerals Profile
Black Stone Minerals, L.P. owns and manages oil and natural gas mineral interests in the United States. The company owns mineral interests in approximately 16.8 million acres, nonparticipating royalty interests in 1.9 million acres, and overriding royalty interests in 2.1 million acres located in 41 states and 64 onshore basins in the continental United States.
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