Envestnet Asset Management Inc. Sells 971 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Envestnet Asset Management Inc. reduced its position in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 1.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 63,042 shares of the oil and gas producer’s stock after selling 971 shares during the period. Envestnet Asset Management Inc.’s holdings in Black Stone Minerals were worth $920,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BSM. Annandale Capital LLC boosted its holdings in shares of Black Stone Minerals by 5.5% in the 4th quarter. Annandale Capital LLC now owns 14,382 shares of the oil and gas producer’s stock worth $210,000 after acquiring an additional 747 shares in the last quarter. Jones Financial Companies Lllp increased its position 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 worth $29,000 after purchasing an additional 1,000 shares during the period. Flagship Harbor Advisors LLC raised its holdings in Black Stone Minerals by 7.8% during the 4th quarter. Flagship Harbor Advisors LLC now owns 24,378 shares of the oil and gas producer’s stock worth $356,000 after purchasing an additional 1,774 shares during the last quarter. Colonial River Investments LLC lifted its position in Black Stone Minerals by 10.2% during the 4th quarter. Colonial River Investments LLC now owns 19,415 shares of the oil and gas producer’s stock valued at $283,000 after purchasing an additional 1,790 shares during the period. Finally, Axxcess Wealth Management LLC grew its position in shares of Black Stone Minerals by 10.2% during the 4th quarter. Axxcess Wealth Management LLC now owns 19,415 shares of the oil and gas producer’s stock worth $283,000 after buying an additional 1,790 shares during the period. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Piper Sandler cut their price objective on shares of Black Stone Minerals from $16.00 to $15.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Royal Bank of Canada raised Black Stone Minerals to a “hold” rating in a research note on Friday, March 14th. Finally, StockNews.com lowered Black Stone Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th.

Black Stone Minerals Price Performance

Shares of BSM stock opened at $14.38 on Friday. The stock has a market cap of $3.04 billion, a PE ratio of 8.88 and a beta of 0.52. The stock has a 50-day moving average of $14.66 and a 200-day moving average of $14.82. Black Stone Minerals, L.P. has a one year low of $12.80 and a one year high of $16.92.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share 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 firm had revenue of $83.73 million during the quarter, compared to analyst estimates of $115.46 million. As a group, research analysts anticipate that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.50 annualized dividend and a yield of 10.43%. Black Stone Minerals’s dividend payout ratio is presently 130.43%.

Black Stone Minerals 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.