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

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

A number of other institutional investors also recently modified their holdings of BSM. JPMorgan Chase & Co. acquired a new position in shares of Black Stone Minerals during the 3rd quarter worth $76,000. Wealth Enhancement Advisory Services LLC grew 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 worth $509,000 after acquiring an additional 13,204 shares during the last quarter. Moody National Bank Trust Division increased its stake in shares of Black Stone Minerals by 35.2% in the fourth quarter. Moody National Bank Trust Division now owns 18,913 shares of the oil and gas producer's stock valued at $276,000 after buying an additional 4,924 shares during the period. Penn Davis Mcfarland Inc. increased its stake 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 buying an additional 245,009 shares during the period. Finally, Flagship Harbor Advisors LLC increased its stake 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 buying an additional 1,774 shares during the period. Institutional investors and hedge funds own 14.49% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BSM shares. Royal Bank of Canada raised Black Stone Minerals to a "hold" rating in a research note on Friday, March 14th. StockNews.com raised Black Stone Minerals from a "hold" rating to a "buy" rating in a research note on Wednesday, May 7th. Finally, Piper Sandler decreased their price target on Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday.

Black Stone Minerals Price Performance

Shares of Black Stone Minerals stock traded up $0.05 on Tuesday, hitting $13.95. 175,073 shares of the company's stock traded hands, compared to its average volume of 440,233. Black Stone Minerals, L.P. has a one year low of $12.80 and a one year high of $16.38. The company has a fifty day moving average of $14.53 and a two-hundred day moving average of $14.77. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of 8.61 and a beta of 0.34.

Black Stone Minerals (NYSE:BSM - Get Free Report) last announced its earnings results on Monday, February 24th. The oil and gas producer reported $0.18 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.21). Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The business had revenue of $83.73 million for the quarter, compared to the consensus estimate of $115.46 million. Equities research analysts anticipate that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Announces Dividend

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 $0.375 dividend. The ex-dividend date of this dividend is Thursday, May 8th. This represents a $1.50 annualized dividend and a yield of 10.75%. Black Stone Minerals's payout ratio is currently 163.04%.

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.