Black Stone Minerals, L.P. (NYSE:BSM) Shares Purchased by Citigroup Inc.

Citigroup Inc. raised its holdings in Black Stone Minerals, L.P. (NYSE:BSM) by 2.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 470,915 shares of the oil and gas producer’s stock after acquiring an additional 10,465 shares during the period. Citigroup Inc. owned 0.21% of Black Stone Minerals worth $7,111,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BSM. AlphaCore Capital LLC increased its stake in Black Stone Minerals by 34.4% in the third quarter. AlphaCore Capital LLC now owns 58,550 shares of the oil and gas producer’s stock valued at $884,000 after purchasing an additional 15,000 shares during the last quarter. Moors & Cabot Inc. increased its stake in shares of Black Stone Minerals by 3.3% during the 3rd quarter. Moors & Cabot Inc. now owns 93,450 shares of the oil and gas producer’s stock valued at $1,411,000 after acquiring an additional 3,000 shares during the last quarter. ING Groep NV increased its stake in shares of Black Stone Minerals by 5.9% during the 3rd quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer’s stock valued at $9,859,000 after acquiring an additional 36,300 shares during the last quarter. Indie Asset Partners LLC purchased a new position in shares of Black Stone Minerals during the 3rd quarter worth about $234,000. Finally, Fiducient Advisors LLC acquired a new stake in shares of Black Stone Minerals in the third quarter worth approximately $12,253,000. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. StockNews.com raised shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a research report on Saturday. Piper Sandler dropped their price objective on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a report on Monday, November 18th.

Insider Activity

In other news, CEO Thomas L. Carter, Jr. acquired 100,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was purchased at an average price of $14.12 per share, with a total value of $1,412,000.00. Following the purchase, the chief executive officer now owns 3,133,128 shares of the company’s stock, valued at approximately $44,239,767.36. This trade represents a 3.30 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 18.60% of the company’s stock.

Black Stone Minerals Price Performance

BSM opened at $15.52 on Friday. The stock has a market capitalization of $3.27 billion, a PE ratio of 9.58 and a beta of 0.94. Black Stone Minerals, L.P. has a 12-month low of $13.94 and a 12-month high of $17.80. The firm’s fifty day moving average price is $15.09 and its 200 day moving average price is $15.23.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The firm had revenue of $134.86 million during the quarter, compared to analyst estimates of $117.68 million. During the same period in the previous year, the business posted $0.27 EPS. On average, equities research analysts forecast that Black Stone Minerals, L.P. will post 1.32 earnings per share for the current fiscal year.

Black Stone Minerals Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Friday, November 8th were given a $0.375 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $1.50 dividend on an annualized basis and a yield of 9.66%. Black Stone Minerals’s dividend payout ratio is presently 92.59%.

Black Stone Minerals 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.