Cresset Asset Management LLC Purchases 497,457 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Cresset Asset Management LLC increased its position in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 500.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 596,853 shares of the oil and gas producer's stock after purchasing an additional 497,457 shares during the quarter. Cresset Asset Management LLC owned approximately 0.28% of Black Stone Minerals worth $8,714,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BSM. JPMorgan Chase & Co. acquired a new stake in shares of Black Stone Minerals in the third quarter valued at approximately $76,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Black Stone Minerals by 64.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 33,738 shares of the oil and gas producer's stock valued at $509,000 after purchasing an additional 13,204 shares during the last quarter. Moody National Bank Trust Division boosted its position in Black Stone Minerals by 35.2% during the fourth quarter. Moody National Bank Trust Division now owns 18,913 shares of the oil and gas producer's stock worth $276,000 after purchasing an additional 4,924 shares during the period. Penn Davis Mcfarland Inc. increased its holdings in shares of Black Stone Minerals by 18.1% in the fourth quarter. Penn Davis Mcfarland Inc. now owns 1,601,182 shares of the oil and gas producer's stock valued at $23,377,000 after purchasing an additional 245,009 shares during the last quarter. Finally, Flagship Harbor Advisors LLC raised its position in shares of Black Stone Minerals by 7.8% in the fourth quarter. Flagship Harbor Advisors LLC now owns 24,378 shares of the oil and gas producer's stock valued at $356,000 after purchasing an additional 1,774 shares during the period. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Black Stone Minerals Stock Performance

Shares of BSM opened at $13.65 on Thursday. Black Stone Minerals, L.P. has a 52 week low of $12.80 and a 52 week high of $16.92. The stock has a market capitalization of $2.88 billion, a price-to-earnings ratio of 8.43 and a beta of 0.34. The stock has a fifty day moving average of $14.58 and a 200-day moving average of $14.80.

Black Stone Minerals (NYSE:BSM - Get Free Report) last released its quarterly earnings data 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). The firm had revenue of $83.73 million during the quarter, compared to analyst estimates of $115.46 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. As a group, equities analysts forecast that Black Stone Minerals, L.P. will post 1.36 EPS for the current year.

Black Stone Minerals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.50 annualized dividend and a yield of 10.99%. Black Stone Minerals's payout ratio is 130.43%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Piper Sandler reduced their target price on shares of Black Stone Minerals from $16.00 to $15.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Royal Bank of Canada raised Black Stone Minerals to a "hold" rating in a research report on Friday, March 14th. Finally, StockNews.com raised Black Stone Minerals from a "hold" rating to a "buy" rating in a research note on Wednesday.

About Black Stone Minerals

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.

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