Black Stone Minerals, L.P. (NYSE:BSM) Shares Acquired by Bristlecone Advisors LLC

Bristlecone Advisors LLC lifted its position in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 8.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,347 shares of the oil and gas producer’s stock after acquiring an additional 3,796 shares during the period. Bristlecone Advisors LLC’s holdings in Black Stone Minerals were worth $754,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp acquired a new stake in shares of Black Stone Minerals during the 4th quarter valued at approximately $4,428,000. Penn Davis Mcfarland Inc. raised its position in shares of Black Stone Minerals by 16.3% during the 1st quarter. Penn Davis Mcfarland Inc. now owns 1,861,741 shares of the oil and gas producer’s stock valued at $28,429,000 after acquiring an additional 260,559 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Black Stone Minerals during the 4th quarter valued at approximately $411,000. Alpha Wealth Funds LLC acquired a new stake in Black Stone Minerals in the fourth quarter worth $359,000. Finally, Krane Funds Advisors LLC acquired a new stake in Black Stone Minerals in the first quarter worth $446,000. 14.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BSM has been the topic of several analyst reports. Wall Street Zen lowered Black Stone Minerals from a “buy” rating to a “hold” rating in a research report on Thursday, May 15th. Piper Sandler dropped their target price on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 13th.

Black Stone Minerals Price Performance

Shares of NYSE BSM opened at $12.20 on Friday. Black Stone Minerals, L.P. has a 1-year low of $11.98 and a 1-year high of $15.66. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.22 and a quick ratio of 1.35. The business’s fifty day moving average price is $13.01 and its two-hundred day moving average price is $14.00. The firm has a market capitalization of $2.58 billion, a PE ratio of 10.52 and a beta of 0.28.

Black Stone Minerals (NYSE:BSM) last released its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.23. The company had revenue of $159.49 million during the quarter, compared to analysts’ expectations of $112.19 million. Black Stone Minerals had a return on equity of 39.67% and a net margin of 61.21%. On average, research analysts expect that Black Stone Minerals, L.P. will post 1.36 EPS for the current year.

Black Stone Minerals Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.8%. Black Stone Minerals’s dividend payout ratio (DPR) is 103.45%.

Insiders Place Their Bets

In other news, SVP Carrie Pearson Clark sold 36,900 shares of the firm’s stock in a transaction on Thursday, May 29th. The stock was sold at an average price of $13.56, for a total transaction of $500,364.00. Following the transaction, the senior vice president directly owned 165,857 shares of the company’s stock, valued at approximately $2,249,020.92. This trade represents a 18.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas L. Carter, Jr. purchased 14,500 shares of the stock in a transaction dated Wednesday, May 21st. The shares were acquired 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 directly owned 3,349,621 shares of the company’s stock, valued at approximately $45,286,875.92. This trade 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.

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.