Fmr LLC cut its stake in shares of Black Stone Minerals LP (NYSE:BSM) by 9.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,631,200 shares of the company’s stock after selling 165,000 shares during the period. Fmr LLC’s holdings in Black Stone Minerals were worth $30,634,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Morgan Stanley boosted its position in Black Stone Minerals by 55.3% in the third quarter. Morgan Stanley now owns 1,641,299 shares of the company’s stock valued at $29,231,000 after buying an additional 584,503 shares in the last quarter. First Trust Advisors LP purchased a new position in Black Stone Minerals during the third quarter valued at $5,836,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Black Stone Minerals by 184.7% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 147,161 shares of the company’s stock valued at $2,764,000 after buying an additional 95,477 shares in the last quarter. SG Americas Securities LLC boosted its position in Black Stone Minerals by 8.9% in the third quarter. SG Americas Securities LLC now owns 144,259 shares of the company’s stock valued at $2,569,000 after buying an additional 11,771 shares in the last quarter. Finally, Energy Opportunities Capital Management LLC purchased a new position in Black Stone Minerals during the third quarter valued at $1,088,000. 15.15% of the stock is owned by institutional investors and hedge funds.
Shares of Black Stone Minerals LP (NYSE:BSM) opened at 16.57 on Monday. The stock’s 50 day moving average price is $17.43 and its 200-day moving average price is $18.12. Black Stone Minerals LP has a 12-month low of $13.47 and a 12-month high of $19.86. The firm has a market cap of $3.19 billion, a P/E ratio of 220.93 and a beta of 0.33.
The business also recently declared a quarterly dividend, which was paid on Monday, February 27th. Investors of record on Monday, February 20th were issued a dividend of $0.2875 per share. The ex-dividend date was Wednesday, February 15th. This represents a $1.15 annualized dividend and a yield of 6.94%. Black Stone Minerals’s dividend payout ratio (DPR) is currently -958.25%.
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Several equities research analysts have issued reports on the company. Stifel Nicolaus raised Black Stone Minerals from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Thursday. They noted that the move was a valuation call. Zacks Investment Research downgraded Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, December 20th. Finally, Scotiabank set a $20.00 target price on Black Stone Minerals and gave the stock a “hold” rating in a report on Tuesday, February 28th.
In related news, SVP Brock Morris sold 4,800 shares of the company’s stock in a transaction on Friday, January 20th. The stock was sold at an average price of $18.76, for a total transaction of $90,048.00. Following the completion of the sale, the senior vice president now owns 234,526 shares in the company, valued at $4,399,707.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Luke Stevens Putman sold 14,208 shares of the company’s stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $18.85, for a total value of $267,820.80. Following the sale, the senior vice president now owns 214,326 shares of the company’s stock, valued at approximately $4,040,045.10. The disclosure for this sale can be found here. Insiders have sold 37,987 shares of company stock valued at $690,088 in the last quarter. 24.30% of the stock is currently owned by corporate insiders.
About Black Stone Minerals
Black Stone Minerals, L.P. is an owner of oil and natural gas mineral interests in the United States. The Company’s principal business is managing its existing portfolio of mineral and royalty assets to maximize its value and expanding its asset base through acquisitions of additional mineral and royalty interests.
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