MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys New Stake in Black Stone Minerals, L.P. (NYSE:BSM)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 28,184 shares of the oil and gas producer's stock, valued at approximately $411,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its holdings in shares of Black Stone Minerals by 100.0% during the 4th quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer's stock worth $29,000 after purchasing an additional 1,000 shares during the period. JPMorgan Chase & Co. acquired a new position in Black Stone Minerals in the third quarter valued at about $76,000. Virtus ETF Advisers LLC boosted its stake in Black Stone Minerals by 14.1% during the fourth quarter. Virtus ETF Advisers LLC now owns 11,838 shares of the oil and gas producer's stock worth $173,000 after buying an additional 1,463 shares during the period. Jump Financial LLC purchased a new position in Black Stone Minerals during the fourth quarter worth about $185,000. Finally, Annandale Capital LLC increased its position in shares of Black Stone Minerals by 5.5% during the fourth quarter. Annandale Capital LLC now owns 14,382 shares of the oil and gas producer's stock valued at $210,000 after acquiring an additional 747 shares during the last quarter. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Black Stone Minerals Price Performance

Shares of NYSE BSM traded down $0.17 during midday trading on Wednesday, hitting $13.59. The company's stock had a trading volume of 245,275 shares, compared to its average volume of 428,094. Black Stone Minerals, L.P. has a 1 year low of $12.80 and a 1 year high of $16.30. The business's fifty day simple moving average is $14.04 and its two-hundred day simple moving average is $14.61. The firm has a market capitalization of $2.87 billion, a price-to-earnings ratio of 8.39 and a beta of 0.34.

Black Stone Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were given a $0.375 dividend. The ex-dividend date was Thursday, May 8th. This represents a $1.50 annualized dividend and a yield of 11.04%. Black Stone Minerals's dividend payout ratio is presently 163.04%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on BSM. Royal Bank of Canada raised shares of Black Stone Minerals to a "hold" rating in a research report on Friday, March 14th. Piper Sandler lowered their price target on Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating for the company in a research report on Tuesday, May 13th. Finally, Wall Street Zen cut Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th.

Insiders Place Their Bets

In other news, SVP Carrie Pearson Clark sold 36,900 shares of the business's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $13.56, for a total transaction of $500,364.00. Following the completion of the transaction, the senior vice president now directly owns 165,857 shares of the company's stock, valued at approximately $2,249,020.92. The trade was a 18.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Thomas L. Carter, Jr. purchased 14,500 shares of the firm's stock in a transaction that occurred on Wednesday, May 21st. The stock was purchased at an average price of $13.52 per share, with a total value of $196,040.00. Following the purchase, the chief executive officer now directly owns 3,349,621 shares of the company's stock, valued at $45,286,875.92. The trade was a 0.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 17.80% of the company's stock.

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.