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

GraniteShares Advisors LLC boosted its position in Black Stone Minerals, L.P. (NYSE:BSM) by 16.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 169,027 shares of the oil and gas producer’s stock after purchasing an additional 23,610 shares during the quarter. Black Stone Minerals accounts for 1.6% of GraniteShares Advisors LLC’s holdings, making the stock its 26th largest holding. GraniteShares Advisors LLC’s holdings in Black Stone Minerals were worth $2,468,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Penn Davis Mcfarland Inc. raised its position in Black Stone Minerals by 18.1% in the fourth quarter. Penn Davis Mcfarland Inc. now owns 1,601,182 shares of the oil and gas producer’s stock valued at $23,377,000 after purchasing an additional 245,009 shares during the period. Investment Management Associates Inc. ADV raised its position in 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 purchasing an additional 363,962 shares during the period. Fiducient Advisors LLC purchased a new position in Black Stone Minerals in the third quarter valued at about $12,253,000. ING Groep NV raised its position in Black Stone Minerals by 5.9% in the third quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer’s stock valued at $9,859,000 after purchasing an additional 36,300 shares during the period. Finally, Citigroup Inc. raised its position in Black Stone Minerals by 2.3% in the third quarter. Citigroup Inc. now owns 470,915 shares of the oil and gas producer’s stock valued at $7,111,000 after purchasing an additional 10,465 shares during the period. Institutional investors and hedge funds own 14.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Piper Sandler cut their price objective on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a research report on Monday, November 18th. StockNews.com lowered Black Stone Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday.

Black Stone Minerals Stock Performance

Shares of NYSE BSM opened at $15.16 on Wednesday. Black Stone Minerals, L.P. has a 1 year low of $13.78 and a 1 year high of $16.92. The firm has a market cap of $3.19 billion, a price-to-earnings ratio of 9.35 and a beta of 0.94. The stock’s 50-day simple moving average is $14.81 and its 200-day simple moving average is $14.88.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Monday, February 24th. The oil and gas producer reported $0.18 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.21). The firm had revenue of $83.73 million during the quarter, compared to analyst estimates of $115.46 million. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. As a group, research analysts predict that Black Stone Minerals, L.P. will post 1.36 EPS for the current year.

Black Stone Minerals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 18th were paid a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.50 dividend on an annualized basis and a yield of 9.90%. Black Stone Minerals’s dividend payout ratio (DPR) is 92.59%.

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.