JPMorgan Chase & Co. Raises Holdings in Black Stone Minerals, L.P. (NYSE:BSM)

JPMorgan Chase & Co. increased its position in Black Stone Minerals, L.P. (NYSE:BSM) by 294.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,714 shares of the oil and gas producer’s stock after buying an additional 14,714 shares during the period. JPMorgan Chase & Co.’s holdings in Black Stone Minerals were worth $288,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BSM. LPL Financial LLC raised its holdings in shares of Black Stone Minerals by 13.5% during the 4th quarter. LPL Financial LLC now owns 136,076 shares of the oil and gas producer’s stock worth $1,987,000 after acquiring an additional 16,174 shares in the last quarter. Virtu Financial LLC purchased a new stake in Black Stone Minerals during the fourth quarter valued at $502,000. Fiduciary Group LLC lifted its position in Black Stone Minerals by 16.8% during the fourth quarter. Fiduciary Group LLC now owns 19,812 shares of the oil and gas producer’s stock valued at $289,000 after purchasing an additional 2,845 shares during the last quarter. Axxcess Wealth Management LLC grew its stake in shares of Black Stone Minerals by 10.2% in 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 in the last quarter. Finally, Corient Private Wealth LLC increased its holdings in shares of Black Stone Minerals by 6.5% in the 4th quarter. Corient Private Wealth LLC now owns 106,242 shares of the oil and gas producer’s stock worth $1,551,000 after buying an additional 6,500 shares during the last quarter. 14.49% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Black Stone Minerals Trading Up 1.2 %

BSM stock opened at $14.55 on Friday. Black Stone Minerals, L.P. has a 12 month low of $12.80 and a 12 month high of $16.92. The stock has a market cap of $3.07 billion, a PE ratio of 8.98 and a beta of 0.52. The company has a 50-day moving average price of $14.64 and a 200 day moving average price of $14.82.

Black Stone Minerals (NYSE:BSM) last announced its 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 net margin of 67.54% and a return on equity of 41.49%. The business had revenue of $83.73 million for the quarter, compared to analysts’ expectations of $115.46 million. Sell-side analysts forecast that Black Stone Minerals, L.P. will post 1.36 EPS 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 paid a $0.375 dividend. The ex-dividend date is Thursday, May 8th. This represents a $1.50 dividend on an annualized basis and a yield of 10.31%. Black Stone Minerals’s payout ratio is 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.