EP Wealth Advisors LLC Lowers Stock Position in Black Stone Minerals, L.P. $BSM

EP Wealth Advisors LLC lowered its position in Black Stone Minerals, L.P. (NYSE:BSM) by 53.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,437 shares of the oil and gas producer’s stock after selling 13,154 shares during the period. EP Wealth Advisors LLC’s holdings in Black Stone Minerals were worth $175,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BSM. SVB Wealth LLC purchased a new stake in shares of Black Stone Minerals in the first quarter valued at about $25,000. PNC Financial Services Group Inc. purchased a new stake in shares of Black Stone Minerals in the first quarter valued at about $29,000. NBC Securities Inc. raised its holdings in shares of Black Stone Minerals by 202,400.0% in the first quarter. NBC Securities Inc. now owns 2,025 shares of the oil and gas producer’s stock valued at $30,000 after purchasing an additional 2,024 shares during the last quarter. North Capital Inc. purchased a new stake in shares of Black Stone Minerals in the first quarter valued at about $46,000. Finally, State of Wyoming purchased a new stake in shares of Black Stone Minerals in the fourth quarter valued at about $107,000. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Price Performance

BSM opened at $12.34 on Thursday. The company has a market capitalization of $2.61 billion, a price-to-earnings ratio of 10.63 and a beta of 0.29. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average price of $12.46 and a 200-day moving average price of $13.56. Black Stone Minerals, L.P. has a twelve month low of $11.78 and a twelve month high of $15.66.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.23. Black Stone Minerals had a net margin of 61.21% and a return on equity of 39.67%. The firm had revenue of $159.49 million during the quarter, compared to the consensus estimate of $112.19 million. Equities analysts expect that Black Stone Minerals, L.P. will post 1.36 EPS for the current year.

Black Stone Minerals Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Stockholders of record on Thursday, August 7th were given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.7%. The ex-dividend date was Thursday, August 7th. Black Stone Minerals’s dividend payout ratio (DPR) is 103.45%.

Insider Activity at Black Stone Minerals

In other news, CEO Thomas L. Carter, Jr. acquired 27,500 shares of the business’s stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $12.20 per share, for a total transaction of $335,500.00. Following the completion of the transaction, the chief executive officer owned 3,396,831 shares of the company’s stock, valued at $41,441,338.20. The trade was a 0.82% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have purchased 147,780 shares of company stock valued at $1,791,543 in the last three months. 17.80% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on BSM shares. Piper Sandler decreased their price objective on shares of Black Stone Minerals from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, August 14th. Wall Street Zen downgraded shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Thursday, May 15th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $13.00.

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.