Black Stone Minerals, L.P. (NYSE:BSM) Shares Sold by RWA Wealth Partners LLC

RWA Wealth Partners LLC trimmed its position in Black Stone Minerals, L.P. (NYSE:BSM) by 0.6% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 138,762 shares of the oil and gas producer’s stock after selling 836 shares during the quarter. RWA Wealth Partners LLC’s holdings in Black Stone Minerals were worth $2,215,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC boosted its holdings in shares of Black Stone Minerals by 18.5% during the 3rd quarter. HighTower Advisors LLC now owns 361,904 shares of the oil and gas producer’s stock worth $6,239,000 after purchasing an additional 56,468 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Black Stone Minerals by 9,778.6% during the 3rd quarter. Citigroup Inc. now owns 39,218 shares of the oil and gas producer’s stock worth $676,000 after purchasing an additional 38,821 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Black Stone Minerals during the 4th quarter worth approximately $5,869,000. International Assets Investment Management LLC boosted its holdings in shares of Black Stone Minerals by 1,296.7% during the 4th quarter. International Assets Investment Management LLC now owns 223,647 shares of the oil and gas producer’s stock worth $3,569,000 after purchasing an additional 207,634 shares during the last quarter. Finally, ING Groep NV boosted its holdings in shares of Black Stone Minerals by 50.8% during the 3rd quarter. ING Groep NV now owns 384,800 shares of the oil and gas producer’s stock worth $6,630,000 after purchasing an additional 129,600 shares during the last quarter. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Black Stone Minerals Trading Up 0.8 %

Black Stone Minerals stock opened at $15.75 on Wednesday. Black Stone Minerals, L.P. has a twelve month low of $14.80 and a twelve month high of $18.55. The stock’s fifty day simple moving average is $15.70 and its 200-day simple moving average is $16.44. The firm has a market capitalization of $3.31 billion, a P/E ratio of 8.42 and a beta of 0.92.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.15. Black Stone Minerals had a return on equity of 42.38% and a net margin of 70.46%. The business had revenue of $190.84 million for the quarter, compared to analyst estimates of $142.67 million. During the same quarter in the prior year, the company earned $0.71 earnings per share. Sell-side analysts predict that Black Stone Minerals, L.P. will post 1.41 earnings per share for the current year.

Black Stone Minerals Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Friday, May 10th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.52%. The ex-dividend date of this dividend is Thursday, May 9th. Black Stone Minerals’s dividend payout ratio is currently 101.60%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BSM. Piper Sandler boosted their target price on Black Stone Minerals from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Stifel Nicolaus reduced their price target on shares of Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating on the stock in a research report on Tuesday, January 23rd.

Insider Buying and Selling

In other news, Director D Mark Dewalch bought 3,250 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was purchased at an average price of $15.47 per share, for a total transaction of $50,277.50. Following the completion of the purchase, the director now owns 320,436 shares in the company, valued at approximately $4,957,144.92. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 19.60% of the company’s stock.

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.