Envestnet Asset Management Inc. Acquires 718 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Envestnet Asset Management Inc. boosted its holdings in Black Stone Minerals, L.P. (NYSE:BSM – Get Rating) by 1.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 57,784 shares of the oil and gas producer’s stock after purchasing an additional 718 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Black Stone Minerals were worth $975,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Optimum Investment Advisors bought a new stake in Black Stone Minerals in the fourth quarter worth approximately $51,000. Clearstead Advisors LLC bought a new stake in shares of Black Stone Minerals during the third quarter valued at approximately $51,000. Geneos Wealth Management Inc. increased its holdings in shares of Black Stone Minerals by 109.5% during the fourth quarter. Geneos Wealth Management Inc. now owns 4,400 shares of the oil and gas producer’s stock valued at $74,000 after acquiring an additional 2,300 shares in the last quarter. U.S. Capital Wealth Advisors LLC bought a new stake in shares of Black Stone Minerals during the fourth quarter valued at approximately $82,000. Finally, Vaughan Nelson Investment Management L.P. bought a new stake in shares of Black Stone Minerals during the fourth quarter valued at approximately $94,000. 16.46% of the stock is currently owned by institutional investors.

Black Stone Minerals Trading Down 2.6 %

NYSE BSM opened at $15.97 on Friday. The firm has a market capitalization of $3.35 billion, a P/E ratio of 5.82 and a beta of 1.04. The business has a fifty day simple moving average of $15.78 and a 200 day simple moving average of $16.35. Black Stone Minerals, L.P. has a 12 month low of $12.81 and a 12 month high of $20.24.

Black Stone Minerals (NYSE:BSM – Get Rating) last announced its quarterly earnings data on Tuesday, February 21st. The oil and gas producer reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.32. The firm had revenue of $230.38 million during the quarter, compared to the consensus estimate of $151.81 million. Black Stone Minerals had a return on equity of 54.18% and a net margin of 77.07%. As a group, sell-side analysts predict that Black Stone Minerals, L.P. will post 1.78 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 19th. Shareholders of record on Friday, May 12th were paid a $0.475 dividend. The ex-dividend date of this dividend was Thursday, May 11th. This represents a $1.90 dividend on an annualized basis and a yield of 11.90%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 68.84%.

Wall Street Analyst Weigh In

BSM has been the subject of several recent research reports. Raymond James boosted their price objective on Black Stone Minerals from $19.00 to $21.00 and gave the company an “outperform” rating in a report on Friday, April 21st. Piper Sandler decreased their price objective on Black Stone Minerals from $16.00 to $15.00 in a report on Thursday, May 18th. Finally, StockNews.com started coverage on Black Stone Minerals in a report on Thursday, May 18th. They set a “hold” rating for the company. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $19.00.

Insider Buying and Selling at Black Stone Minerals

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. acquired 30,000 shares of Black Stone Minerals stock in a transaction on Monday, February 27th. The stock was purchased at an average price of $15.58 per share, for a total transaction of $467,400.00. Following the purchase, the chief executive officer now directly owns 2,620,991 shares of the company’s stock, valued at $40,835,039.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Thomas L. Carter, Jr. purchased 30,000 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was bought at an average price of $15.58 per share, for a total transaction of $467,400.00. Following the purchase, the chief executive officer now owns 2,620,991 shares of the company’s stock, valued at $40,835,039.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas L. Carter, Jr. purchased 31,800 shares of the business’s stock in a transaction dated Friday, May 5th. The shares were purchased at an average price of $15.53 per share, with a total value of $493,854.00. Following the purchase, the chief executive officer now directly owns 2,652,791 shares in the company, valued at approximately $41,197,844.23. The disclosure for this purchase can be found here. Insiders acquired 92,950 shares of company stock worth $1,454,982 in the last quarter. 21.10% of the stock is currently owned by company insiders.

Black Stone Minerals Company Profile

(Get Rating)

Black Stone Minerals LP is an exploration company. The firm engages in the exploration of oil and natural gas minerals. It focuses on the operation of Louisiana-Mississippi Salt Basins, Western Gulf, Permian Basin, Palo Duro Basin, East Texas Basin, Anadarko Basin, Appalachian Basin, Arkoma Basin, Bend Arch-Fort Worth, and Southwestern Wyoming.