HighTower Advisors LLC Sells 46,981 Shares of Black Stone Minerals, L.P. $BSM

HighTower Advisors LLC trimmed its holdings in Black Stone Minerals, L.P. (NYSE:BSM) by 7.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 608,649 shares of the oil and gas producer’s stock after selling 46,981 shares during the period. HighTower Advisors LLC owned 0.29% of Black Stone Minerals worth $7,998,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Bank of America Corp DE raised its stake in Black Stone Minerals by 0.7% in the 2nd quarter. Bank of America Corp DE now owns 2,543,814 shares of the oil and gas producer’s stock valued at $33,273,000 after acquiring an additional 17,556 shares during the period. Investment Management Associates Inc. ADV increased its holdings in shares of Black Stone Minerals by 22.6% in the third quarter. Investment Management Associates Inc. ADV now owns 1,934,739 shares of the oil and gas producer’s stock valued at $25,422,000 after purchasing an additional 356,852 shares during the last quarter. Penn Davis Mcfarland Inc. raised its position in shares of Black Stone Minerals by 3.6% in the third quarter. Penn Davis Mcfarland Inc. now owns 1,918,790 shares of the oil and gas producer’s stock valued at $25,213,000 after purchasing an additional 66,898 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Black Stone Minerals by 5.5% during the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 963,313 shares of the oil and gas producer’s stock worth $12,600,000 after buying an additional 49,818 shares during the last quarter. Finally, Fayez Sarofim & Co boosted its holdings in shares of Black Stone Minerals by 5.0% during the 2nd quarter. Fayez Sarofim & Co now owns 515,045 shares of the oil and gas producer’s stock worth $6,737,000 after buying an additional 24,305 shares during the period. 14.49% of the stock is owned by institutional investors and hedge funds.

Black Stone Minerals Stock Performance

NYSE BSM opened at $15.06 on Monday. The firm has a 50-day moving average price of $14.26 and a two-hundred day moving average price of $13.49. Black Stone Minerals, L.P. has a 12-month low of $11.78 and a 12-month high of $15.52. The company has a market capitalization of $3.19 billion, a P/E ratio of 13.09 and a beta of 0.18. The company has a quick ratio of 4.37, a current ratio of 4.37 and a debt-to-equity ratio of 0.12.

Black Stone Minerals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 25th. Shareholders of record on Wednesday, February 18th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, February 18th. This represents a $1.20 annualized dividend and a yield of 8.0%. Black Stone Minerals’s payout ratio is currently 104.35%.

Analyst Upgrades and Downgrades

BSM has been the topic of several research analyst reports. KeyCorp reissued a “sector weight” rating on shares of Black Stone Minerals in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Black Stone Minerals in a research report on Monday, December 29th. Finally, Zacks Research cut Black Stone Minerals from a “strong-buy” rating to a “hold” rating in a report on Wednesday, February 4th. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.00.

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.