Black Stone Minerals, L.P. $BSM Stock Position Lowered by Eagle Global Advisors LLC

Eagle Global Advisors LLC decreased its position in Black Stone Minerals, L.P. (NYSE:BSM) by 79.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,304 shares of the oil and gas producer’s stock after selling 70,818 shares during the quarter. Eagle Global Advisors LLC’s holdings in Black Stone Minerals were worth $241,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Penn Davis Mcfarland Inc. grew its holdings in Black Stone Minerals by 3.6% during the third quarter. Penn Davis Mcfarland Inc. now owns 1,918,790 shares of the oil and gas producer’s stock worth $25,213,000 after acquiring an additional 66,898 shares during the period. GraniteShares Advisors LLC boosted its position in shares of Black Stone Minerals by 9.7% during the 3rd quarter. GraniteShares Advisors LLC now owns 210,447 shares of the oil and gas producer’s stock valued at $2,765,000 after purchasing an additional 18,530 shares in the last quarter. Ballew Advisors Inc acquired a new position in shares of Black Stone Minerals in the 3rd quarter worth approximately $166,000. Alpha Wealth Funds LLC raised its holdings in shares of Black Stone Minerals by 44.6% in the 3rd quarter. Alpha Wealth Funds LLC now owns 16,200 shares of the oil and gas producer’s stock worth $194,000 after purchasing an additional 5,000 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of Black Stone Minerals by 104.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 42,701 shares of the oil and gas producer’s stock worth $561,000 after purchasing an additional 21,846 shares in the last quarter. Institutional investors own 14.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on BSM shares. Zacks Research upgraded shares of Black Stone Minerals from a “hold” rating to a “strong-buy” rating in a report on Tuesday, January 6th. KeyCorp reiterated a “sector weight” rating on shares of Black Stone Minerals in a research report on Tuesday, November 4th. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Black Stone Minerals in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Black Stone Minerals has an average rating of “Hold” and an average price target of $13.00.

Black Stone Minerals Stock Performance

Black Stone Minerals stock opened at $14.14 on Friday. Black Stone Minerals, L.P. has a fifty-two week low of $11.78 and a fifty-two week high of $15.60. The firm’s 50 day simple moving average is $13.83 and its 200-day simple moving average is $13.10. The company has a debt-to-equity ratio of 0.12, a current ratio of 4.37 and a quick ratio of 4.37. The company has a market cap of $3.00 billion, a P/E ratio of 12.30 and a beta of 0.13.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, November 3rd. The oil and gas producer reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.12. Black Stone Minerals had a net margin of 61.31% and a return on equity of 40.08%. The firm had revenue of $132.47 million during the quarter, compared to analyst estimates of $106.20 million. As a group, equities research analysts predict that Black Stone Minerals, L.P. will post 1.36 EPS for the current year.

Black Stone Minerals Profile

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.