Corient Private Wealth LLC Purchases 121,043 Shares of Black Stone Minerals, L.P. $BSM

Corient Private Wealth LLC grew its holdings in Black Stone Minerals, L.P. (NYSE:BSM) by 140.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 207,367 shares of the oil and gas producer’s stock after purchasing an additional 121,043 shares during the quarter. Corient Private Wealth LLC’s holdings in Black Stone Minerals were worth $2,756,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in BSM. Cullen Frost Bankers Inc. grew its stake in shares of Black Stone Minerals by 154.8% during the fourth quarter. Cullen Frost Bankers Inc. now owns 143,484 shares of the oil and gas producer’s stock valued at $1,907,000 after purchasing an additional 87,172 shares during the last quarter. ING Groep NV raised its position in Black Stone Minerals by 42.9% in the 4th quarter. ING Groep NV now owns 728,600 shares of the oil and gas producer’s stock worth $9,683,000 after purchasing an additional 218,900 shares during the last quarter. Northwestern University bought a new position in Black Stone Minerals in the 4th quarter worth approximately $15,671,000. Citigroup Inc. lifted its holdings in Black Stone Minerals by 36.2% during the 3rd quarter. Citigroup Inc. now owns 347,200 shares of the oil and gas producer’s stock worth $4,562,000 after buying an additional 92,193 shares in the last quarter. Finally, Forum Financial Management LP acquired a new position in Black Stone Minerals during the 4th quarter worth $3,987,000. Institutional investors own 14.49% of the company’s stock.

Insider Activity

In other news, SVP Luke Stevens Putman sold 29,386 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $13.75, for a total value of $404,057.50. Following the sale, the senior vice president directly owned 702,645 shares of the company’s stock, valued at approximately $9,661,368.75. This represents a 4.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ashley J. Longmaid sold 11,128 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $13.45, for a total value of $149,671.60. Following the completion of the sale, the director owned 137,335 shares in the company, valued at $1,847,155.75. This represents a 7.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders bought 179,254 shares of company stock valued at $2,407,265 and sold 69,900 shares valued at $978,357. 17.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on BSM shares. Royal Bank Of Canada assumed coverage on Black Stone Minerals in a research report on Friday, May 29th. They issued a “sector perform” rating and a $16.00 price objective for the company. Weiss Ratings restated a “hold (c)” rating on shares of Black Stone Minerals in a research report on Friday, April 24th. Piper Sandler raised their target price on shares of Black Stone Minerals from $13.00 to $14.00 and gave the company a “neutral” rating in a research note on Thursday, March 5th. Finally, Zacks Research cut shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a research report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus price target of $15.00.

Black Stone Minerals Stock Performance

Shares of BSM stock opened at $14.03 on Monday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34. Black Stone Minerals, L.P. has a 52 week low of $11.78 and a 52 week high of $15.49. The company’s 50 day moving average price is $13.84 and its two-hundred day moving average price is $14.30. The company has a market capitalization of $2.98 billion, a P/E ratio of 11.05 and a beta of 0.05.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.22 by ($0.19). Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%.The firm had revenue of $59.36 million for the quarter, compared to analyst estimates of $107.38 million. On average, analysts expect that Black Stone Minerals, L.P. will post 0.97 earnings per share for the current fiscal year.

Black Stone Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 8.6%. The ex-dividend date was Friday, May 8th. Black Stone Minerals’s payout ratio is presently 94.49%.

About Black Stone Minerals

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.