Jones Financial Companies Lllp Raises Stock Holdings in Black Stone Minerals, L.P. (NYSE:BSM)

Jones Financial Companies Lllp boosted its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 100.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,000 shares of the oil and gas producer’s stock after purchasing an additional 1,000 shares during the quarter. Jones Financial Companies Lllp’s holdings in Black Stone Minerals were worth $29,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. GraniteShares Advisors LLC lifted its position in shares of Black Stone Minerals by 16.2% in the fourth quarter. GraniteShares Advisors LLC now owns 169,027 shares of the oil and gas producer’s stock valued at $2,468,000 after acquiring an additional 23,610 shares in the last quarter. Colonial River Investments LLC lifted its position in shares of Black Stone Minerals by 10.2% in the fourth quarter. Colonial River Investments LLC now owns 19,415 shares of the oil and gas producer’s stock valued at $283,000 after acquiring an additional 1,790 shares in the last quarter. Investment Management Associates Inc. ADV lifted its position in shares of Black Stone Minerals by 30.8% in the fourth quarter. Investment Management Associates Inc. ADV now owns 1,544,182 shares of the oil and gas producer’s stock valued at $22,545,000 after acquiring an additional 363,962 shares in the last quarter. LMG Wealth Partners LLC purchased a new position in shares of Black Stone Minerals in the fourth quarter valued at approximately $2,194,000. Finally, Corps Capital Advisors LLC purchased a new position in shares of Black Stone Minerals in the fourth quarter valued at approximately $231,000. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Stock Up 1.2 %

BSM opened at $15.36 on Thursday. Black Stone Minerals, L.P. has a 52 week low of $13.78 and a 52 week high of $16.92. The business has a fifty day simple moving average of $15.02 and a 200-day simple moving average of $14.91. The firm has a market cap of $3.24 billion, a P/E ratio of 9.48 and a beta of 0.92.

Black Stone Minerals (NYSE:BSM) last released its earnings results 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 company had revenue of $83.73 million during the quarter, compared to analysts’ expectations of $115.46 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. Sell-side analysts expect that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 18th were given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.77%. The ex-dividend date was Tuesday, February 18th. Black Stone Minerals’s dividend payout ratio (DPR) is currently 130.43%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on BSM. Piper Sandler increased their price target on Black Stone Minerals from $14.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. StockNews.com cut Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th.

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.