Raymond James Financial Services Advisors Inc. Sells 21,792 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Raymond James Financial Services Advisors Inc. lowered its stake in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 21.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 78,387 shares of the oil and gas producer’s stock after selling 21,792 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Black Stone Minerals were worth $1,251,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Morgan Stanley grew its holdings in shares of Black Stone Minerals by 144.9% during the 4th quarter. Morgan Stanley now owns 4,004,701 shares of the oil and gas producer’s stock worth $67,559,000 after purchasing an additional 2,369,656 shares in the last quarter. UBS Group AG grew its stake in Black Stone Minerals by 12,416.2% during the first quarter. UBS Group AG now owns 1,587,809 shares of the oil and gas producer’s stock worth $21,372,000 after buying an additional 1,575,123 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Black Stone Minerals by 239.2% in the 4th quarter. JPMorgan Chase & Co. now owns 1,152,661 shares of the oil and gas producer’s stock valued at $19,445,000 after buying an additional 812,840 shares during the period. Epacria Capital Partners LLC acquired a new position in shares of Black Stone Minerals in the 4th quarter valued at approximately $12,149,000. Finally, Bank of America Corp DE raised its position in shares of Black Stone Minerals by 1,353.9% in the 1st quarter. Bank of America Corp DE now owns 687,529 shares of the oil and gas producer’s stock valued at $10,787,000 after buying an additional 640,241 shares in the last quarter. Institutional investors own 14.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on BSM. Stifel Nicolaus decreased their price objective on shares of Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating on the stock in a research note on Tuesday, January 23rd. Piper Sandler lifted their price target on Black Stone Minerals from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, March 7th.

Insider Activity

In other Black Stone Minerals news, Director D Mark Dewalch bought 3,250 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were acquired at an average cost of $15.47 per share, for a total transaction of $50,277.50. Following the transaction, the director now directly owns 320,436 shares in the company, valued at $4,957,144.92. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 19.60% of the stock is currently owned by insiders.

Black Stone Minerals Price Performance

BSM stock opened at $16.06 on Friday. Black Stone Minerals, L.P. has a 1 year low of $14.80 and a 1 year high of $18.55. The stock has a market cap of $3.38 billion, a price-to-earnings ratio of 8.59 and a beta of 0.92. The company has a 50 day simple moving average of $15.75 and a 200 day simple moving average of $16.54.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.65 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.15. The company had revenue of $190.84 million during the quarter, compared to analysts’ expectations of $142.67 million. Black Stone Minerals had a return on equity of 42.38% and a net margin of 70.46%. During the same period in the prior year, the company earned $0.71 EPS. On average, equities research analysts anticipate that Black Stone Minerals, L.P. will post 1.42 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 23rd. Stockholders of record on Friday, February 16th were issued a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a dividend yield of 11.83%. The ex-dividend date of this dividend was Thursday, February 15th. Black Stone Minerals’s dividend payout ratio (DPR) is currently 101.60%.

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.