Mirae Asset Global Investments Co. Ltd. Invests $5.87 Million in Black Stone Minerals, L.P. (NYSE:BSM)

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Black Stone Minerals, L.P. (NYSE:BSM) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 367,741 shares of the oil and gas producer’s stock, valued at approximately $5,869,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. HighTower Advisors LLC boosted its stake in shares of Black Stone Minerals by 18.5% during the 3rd quarter. HighTower Advisors LLC now owns 361,904 shares of the oil and gas producer’s stock worth $6,239,000 after acquiring an additional 56,468 shares during the period. Citigroup Inc. lifted its holdings 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. ING Groep NV lifted its holdings in Black Stone Minerals by 50.8% during the 3rd quarter. ING Groep NV now owns 384,800 shares of the oil and gas producer’s stock worth $6,630,000 after purchasing an additional 129,600 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in Black Stone Minerals during the 3rd quarter worth approximately $115,000. Finally, Global Retirement Partners LLC acquired a new stake in Black Stone Minerals during the 4th quarter worth approximately $135,000. 14.49% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Piper Sandler lifted their price target on Black Stone Minerals from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th. Stifel Nicolaus dropped their price objective on Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating for the company in a report on Tuesday, January 23rd.

Insider Activity

In other Black Stone Minerals news, Director D Mark Dewalch purchased 3,250 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were bought at an average price of $15.47 per share, for a total transaction of $50,277.50. Following the purchase, the director now owns 320,436 shares in the company, valued at approximately $4,957,144.92. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 19.60% of the company’s stock.

Black Stone Minerals Price Performance

Shares of NYSE BSM opened at $16.06 on Monday. The stock has a market capitalization of $3.38 billion, a PE ratio of 8.59 and a beta of 0.92. The business has a fifty day moving average price of $15.75 and a two-hundred day moving average price of $16.53. Black Stone Minerals, L.P. has a fifty-two week low of $14.80 and a fifty-two week high of $18.55.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Tuesday, February 20th. The oil and gas producer reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.15. Black Stone Minerals had a return on equity of 42.38% and a net margin of 70.46%. The company had revenue of $190.84 million for the quarter, compared to analyst estimates of $142.67 million. During the same quarter last year, the company posted $0.71 EPS. On average, equities analysts expect that Black Stone Minerals, L.P. will post 1.42 EPS for the current year.

Black Stone Minerals Dividend Announcement

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

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.