Black Stone Minerals, L.P. (NYSE:BSM) Shares Sold by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC decreased its position in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,000 shares of the oil and gas producer’s stock after selling 1,000 shares during the period. Baker Ellis Asset Management LLC’s holdings in Black Stone Minerals were worth $192,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. HBC Financial Services PLLC acquired a new position in shares of Black Stone Minerals in the fourth quarter valued at approximately $31,000. Newbridge Financial Services Group Inc. increased its holdings in shares of Black Stone Minerals by 279.5% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 3,036 shares of the oil and gas producer’s stock valued at $48,000 after purchasing an additional 2,236 shares during the period. Arlington Trust Co LLC acquired a new position in shares of Black Stone Minerals in the fourth quarter valued at approximately $100,000. Global Retirement Partners LLC acquired a new position in shares of Black Stone Minerals in the fourth quarter valued at approximately $135,000. Finally, Clear Street Markets LLC increased its holdings in shares of Black Stone Minerals by 334.8% in the fourth quarter. Clear Street Markets LLC now owns 10,000 shares of the oil and gas producer’s stock valued at $160,000 after purchasing an additional 7,700 shares during the period. Institutional investors and hedge funds own 14.49% of the company’s stock.

Black Stone Minerals Price Performance

Shares of BSM stock opened at $15.67 on Friday. The business’s fifty day moving average price is $15.95 and its 200 day moving average price is $15.95. Black Stone Minerals, L.P. has a 1-year low of $14.88 and a 1-year high of $18.55. The firm has a market capitalization of $3.30 billion, a PE ratio of 10.18 and a beta of 0.90.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings data on Monday, May 6th. The oil and gas producer reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.08). Black Stone Minerals had a return on equity of 38.71% and a net margin of 66.29%. The business had revenue of $105.49 million for the quarter, compared to analyst estimates of $119.50 million. Equities research analysts expect that Black Stone Minerals, L.P. will post 1.47 earnings per share for the current fiscal year.

Black Stone Minerals Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Friday, May 10th were issued a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 9.57%. The ex-dividend date was Thursday, May 9th. Black Stone Minerals’s dividend payout ratio is presently 97.40%.

Analyst Ratings Changes

BSM has been the topic of a number of recent research reports. Piper Sandler boosted their target price on Black Stone Minerals from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 7th. KeyCorp initiated coverage on Black Stone Minerals in a report on Thursday. They issued a “sector weight” rating on the stock. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $19.33.

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.