Citigroup Inc. Boosts Stock Position in Black Stone Minerals, L.P. $BSM

Citigroup Inc. grew its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 36.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 347,200 shares of the oil and gas producer’s stock after buying an additional 92,193 shares during the period. Citigroup Inc. owned 0.16% of Black Stone Minerals worth $4,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Investment Management Associates Inc. ADV increased its holdings in shares of Black Stone Minerals by 22.6% in the 3rd 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 acquiring an additional 356,852 shares during the last quarter. ING Groep NV increased its stake in Black Stone Minerals by 216.6% in the third quarter. ING Groep NV now owns 509,700 shares of the oil and gas producer’s stock valued at $6,697,000 after purchasing an additional 348,700 shares during the last quarter. Jump Financial LLC acquired a new stake in Black Stone Minerals during the second quarter worth approximately $1,230,000. Penn Davis Mcfarland Inc. raised 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 purchasing an additional 66,898 shares in the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Black Stone Minerals by 50.2% during the 2nd quarter. Corient Private Wealth LLC now owns 174,476 shares of the oil and gas producer’s stock worth $2,282,000 after buying an additional 58,277 shares during the last quarter. 14.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BSM has been the topic of several research analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Black Stone Minerals in a research note on Monday, December 29th. KeyCorp reaffirmed a “sector weight” rating on shares of Black Stone Minerals in a report on Tuesday, November 4th. Finally, Zacks Research downgraded 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, Black Stone Minerals has a consensus rating of “Hold” and a consensus price target of $13.00.

Black Stone Minerals Stock Performance

NYSE BSM opened at $15.00 on Wednesday. The company has a quick ratio of 3.88, a current ratio of 3.88 and a debt-to-equity ratio of 0.19. Black Stone Minerals, L.P. has a 52-week low of $11.78 and a 52-week high of $15.52. The business’s 50-day moving average price is $14.45 and its 200 day moving average price is $13.62. The firm has a market cap of $3.18 billion, a P/E ratio of 11.72 and a beta of 0.17.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, February 23rd. The oil and gas producer reported $0.31 EPS for the quarter, beating the consensus estimate of $0.27 by $0.04. Black Stone Minerals had a return on equity of 43.31% and a net margin of 62.26%.The firm had revenue of $118.70 million during the quarter, compared to the consensus estimate of $98.08 million. On average, equities research analysts expect that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 25th. Investors of record on Wednesday, February 18th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, February 18th. This represents a $1.20 annualized dividend and a dividend yield of 8.0%. Black Stone Minerals’s dividend payout ratio (DPR) is currently 93.75%.

Black Stone Minerals Company 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.