LongView Wealth Management Cuts Stock Position in Black Stone Minerals, L.P. (NYSE:BSM)

LongView Wealth Management lowered its position in Black Stone Minerals, L.P. (NYSE:BSM) by 2.2% during the first quarter, Holdings Channel reports. The institutional investor owned 33,005 shares of the oil and gas producer’s stock after selling 730 shares during the quarter. LongView Wealth Management’s holdings in Black Stone Minerals were worth $527,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Citigroup Inc. grew its position in 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. Mariner LLC boosted its holdings in shares of Black Stone Minerals by 241.0% in the 3rd quarter. Mariner LLC now owns 50,514 shares of the oil and gas producer’s stock valued at $870,000 after acquiring an additional 35,702 shares during the last quarter. Stifel Financial Corp boosted its holdings in shares of Black Stone Minerals by 1.6% in the 3rd quarter. Stifel Financial Corp now owns 148,292 shares of the oil and gas producer’s stock valued at $2,555,000 after acquiring an additional 2,405 shares during the last quarter. Axxcess Wealth Management LLC purchased a new stake in shares of Black Stone Minerals in the 3rd quarter valued at $212,000. Finally, Toroso Investments LLC lifted its stake in shares of Black Stone Minerals by 419.8% in the 3rd quarter. Toroso Investments LLC now owns 78,752 shares of the oil and gas producer’s stock valued at $1,357,000 after purchasing an additional 63,601 shares during the period. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Price Performance

Shares of Black Stone Minerals stock remained flat at $15.68 during trading hours on Friday. 416,285 shares of the stock were exchanged, compared to its average volume of 474,480. Black Stone Minerals, L.P. has a fifty-two week low of $14.88 and a fifty-two week high of $18.55. The stock has a market capitalization of $3.30 billion, a P/E ratio of 10.18 and a beta of 0.90. The firm has a 50-day moving average price of $15.95 and a two-hundred day moving average price of $15.95.

Black Stone Minerals (NYSE:BSM) last released its earnings results on Monday, May 6th. The oil and gas producer reported $0.27 earnings per share (EPS) 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 analysts’ expectations of $119.50 million. As a group, research analysts anticipate that Black Stone Minerals, L.P. will post 1.47 EPS for the current fiscal year.

Black Stone Minerals Cuts Dividend

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BSM. KeyCorp assumed coverage on shares of Black Stone Minerals in a research note on Thursday. They issued a “sector weight” rating for the company. Piper Sandler upped their target price on shares of Black Stone Minerals from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.33.

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.