Kovack Advisors Inc. Lowers Stock Position in Black Stone Minerals, L.P. (NYSE:BSM)

Kovack Advisors Inc. cut its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSMFree Report) by 11.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,525 shares of the oil and gas producer’s stock after selling 1,500 shares during the period. Kovack Advisors Inc.’s holdings in Black Stone Minerals were worth $184,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. HBC Financial Services PLLC purchased a new position in Black Stone Minerals in the 4th quarter valued at $31,000. Newbridge Financial Services Group Inc. grew its position in Black Stone Minerals by 279.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,036 shares of the oil and gas producer’s stock valued at $48,000 after buying an additional 2,236 shares during the last quarter. Arlington Trust Co LLC purchased a new position in Black Stone Minerals in the 4th quarter valued at $100,000. Global Retirement Partners LLC purchased a new position in Black Stone Minerals in the 4th quarter valued at $135,000. Finally, Clear Street Markets LLC grew its position in Black Stone Minerals by 334.8% in the 4th quarter. Clear Street Markets LLC now owns 10,000 shares of the oil and gas producer’s stock valued at $160,000 after buying an additional 7,700 shares during the last quarter. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, KeyCorp assumed coverage on Black Stone Minerals in a report on Thursday, June 27th. They issued a “sector weight” rating for the company. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Black Stone Minerals has a consensus rating of “Hold” and a consensus price target of $19.33.

View Our Latest Research Report on Black Stone Minerals

Black Stone Minerals Stock Performance

Black Stone Minerals stock opened at $15.61 on Friday. Black Stone Minerals, L.P. has a one year low of $14.88 and a one year high of $18.55. The business has a fifty day moving average of $15.94 and a two-hundred day moving average of $15.93. The company has a market cap of $3.28 billion, a P/E ratio of 10.13 and a beta of 0.93.

Black Stone Minerals (NYSE:BSMGet Free Report) last released its earnings results on Monday, May 6th. The oil and gas producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.08). The business had revenue of $105.49 million during the quarter, compared to analyst estimates of $119.50 million. Black Stone Minerals had a net margin of 66.29% and a return on equity of 38.71%. Sell-side analysts predict that Black Stone Minerals, L.P. will post 1.47 EPS for the current year.

Black Stone Minerals Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 10th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 9.61%. The ex-dividend date was Thursday, May 9th. Black Stone Minerals’s dividend payout ratio (DPR) is presently 97.40%.

About Black Stone Minerals

(Free Report)

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.

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Institutional Ownership by Quarter for Black Stone Minerals (NYSE:BSM)

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