HighTower Advisors LLC Purchases 4,090 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

HighTower Advisors LLC boosted its holdings in Black Stone Minerals, L.P. (NYSE:BSM) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 408,918 shares of the oil and gas producer’s stock after purchasing an additional 4,090 shares during the quarter. HighTower Advisors LLC’s holdings in Black Stone Minerals were worth $5,970,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of BSM. Jones Financial Companies Lllp grew its holdings in shares of Black Stone Minerals by 100.0% during the fourth quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer’s stock valued at $29,000 after buying an additional 1,000 shares during the last quarter. Larson Financial Group LLC bought a new position in shares of Black Stone Minerals during the third quarter valued at about $54,000. JPMorgan Chase & Co. bought a new stake in Black Stone Minerals in the 3rd quarter worth about $76,000. Corps Capital Advisors LLC purchased a new stake in Black Stone Minerals in the 4th quarter valued at about $231,000. Finally, Moody National Bank Trust Division lifted its position in shares of Black Stone Minerals by 35.2% during the 4th quarter. Moody National Bank Trust Division now owns 18,913 shares of the oil and gas producer’s stock worth $276,000 after buying an additional 4,924 shares in the last quarter. Institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Stock Up 0.6 %

Black Stone Minerals stock opened at $15.19 on Wednesday. The firm has a 50 day moving average price of $15.01 and a 200-day moving average price of $14.90. Black Stone Minerals, L.P. has a twelve month low of $13.78 and a twelve month high of $16.92. The company has a market capitalization of $3.21 billion, a P/E ratio of 9.37 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 firm had revenue of $83.73 million during the quarter, compared to analysts’ expectations of $115.46 million. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. Equities analysts expect that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Shareholders of record on Tuesday, February 18th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 9.88%. The ex-dividend date of this dividend was Tuesday, February 18th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 130.43%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BSM shares. 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 research report on Thursday, March 6th. StockNews.com lowered Black Stone Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

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.