Franklin Resources Inc. Sells 2,693 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Franklin Resources Inc. cut its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,357 shares of the oil and gas producer’s stock after selling 2,693 shares during the quarter. Franklin Resources Inc.’s holdings in Black Stone Minerals were worth $1,056,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. JPMorgan Chase & Co. bought a new position in Black Stone Minerals during the 3rd quarter worth $76,000. Raymond James Financial Inc. acquired a new stake in shares of Black Stone Minerals during the 4th quarter worth $4,211,000. Penn Davis Mcfarland Inc. grew its holdings in shares of Black Stone Minerals by 18.1% during the 4th quarter. Penn Davis Mcfarland Inc. now owns 1,601,182 shares of the oil and gas producer’s stock worth $23,377,000 after purchasing an additional 245,009 shares in the last quarter. Stifel Financial Corp increased its position in shares of Black Stone Minerals by 9.6% in the third quarter. Stifel Financial Corp now owns 173,775 shares of the oil and gas producer’s stock worth $2,624,000 after purchasing an additional 15,236 shares during the period. Finally, Jones Financial Companies Lllp raised its stake in Black Stone Minerals by 100.0% in the fourth quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer’s stock valued at $29,000 after purchasing an additional 1,000 shares in the last quarter. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. StockNews.com lowered shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. Piper Sandler lifted their price objective on shares of Black Stone Minerals from $14.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. Finally, Royal Bank of Canada upgraded Black Stone Minerals to a “hold” rating in a research note on Friday, March 14th.

Black Stone Minerals Price Performance

BSM stock opened at $14.01 on Wednesday. The stock has a market cap of $2.96 billion, a price-to-earnings ratio of 8.65 and a beta of 0.52. The company has a 50 day simple moving average of $14.81 and a 200 day simple moving average of $14.88. Black Stone Minerals, L.P. has a 1 year low of $12.80 and a 1 year high of $16.92.

Black Stone Minerals (NYSE:BSM) last announced its quarterly earnings results on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.21). Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. The company had revenue of $83.73 million for the quarter, compared to analyst estimates of $115.46 million. On average, equities research analysts anticipate that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 10.71%. The ex-dividend date was Tuesday, February 18th. Black Stone Minerals’s dividend payout ratio (DPR) is currently 130.43%.

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.