GraniteShares Advisors LLC Grows Stake in Black Stone Minerals, L.P. (NYSE:BSM)

GraniteShares Advisors LLC boosted its position in Black Stone Minerals, L.P. (NYSE:BSM) by 16.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,027 shares of the oil and gas producer’s stock after purchasing an additional 23,610 shares during the period. Black Stone Minerals comprises 1.6% of GraniteShares Advisors LLC’s investment portfolio, making the stock its 26th biggest position. GraniteShares Advisors LLC owned approximately 0.08% of Black Stone Minerals worth $2,468,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC purchased a new position in Black Stone Minerals in the 3rd quarter valued at approximately $54,000. JPMorgan Chase & Co. purchased a new position in Black Stone Minerals in the 3rd quarter valued at approximately $76,000. Corps Capital Advisors LLC purchased a new position in Black Stone Minerals in the 4th quarter valued at approximately $231,000. Indie Asset Partners LLC purchased a new position in Black Stone Minerals in the 3rd quarter valued at approximately $234,000. Finally, Moody National Bank Trust Division increased its stake in Black Stone Minerals by 35.2% in the 4th quarter. Moody National Bank Trust Division now owns 18,913 shares of the oil and gas producer’s stock valued at $276,000 after purchasing an additional 4,924 shares in the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.

Black Stone Minerals Stock Performance

Shares of NYSE:BSM opened at $15.16 on Wednesday. The business’s fifty day moving average price is $14.81 and its two-hundred day moving average price is $14.88. The stock has a market cap of $3.19 billion, a PE ratio of 9.35 and a beta of 0.94. Black Stone Minerals, L.P. has a one year low of $13.78 and a one year high of $16.92.

Black Stone Minerals (NYSE:BSM) last announced its 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). Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The company had revenue of $83.73 million for the quarter, compared to analyst estimates of $115.46 million. As a group, equities research analysts predict that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current fiscal year.

Black Stone Minerals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 9.90%. The ex-dividend date was Tuesday, February 18th. Black Stone Minerals’s dividend payout ratio (DPR) is 92.59%.

Analysts Set New Price Targets

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

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.