Americana Partners LLC Buys 85,956 Shares of Black Stone Minerals, L.P. $BSM

Key Points

• Americana Partners LLC increased its Black Stone Minerals stake by 212.4% in the fourth quarter, buying 85,956 additional shares to bring its total holdings to 126,427 shares worth about $1.68 million.
• Black Stone Minerals has seen mixed analyst sentiment, including a downgrade from Zacks Research to “strong sell”, while the consensus rating remains “Reduce” with a $14.00 price target.
• The company reported weak quarterly results, with EPS of $0.03 versus expectations of $0.22 and revenue of $59.36 million versus the $107.38 million estimate, even as it continues to pay a high dividend yield of 8.7%.

Americana Partners LLC boosted its stake in shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 212.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,427 shares of the oil and gas producer's stock after purchasing an additional 85,956 shares during the quarter. Americana Partners LLC owned about 0.06% of Black Stone Minerals worth $1,680,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Northwestern University bought a new stake in Black Stone Minerals during the fourth quarter valued at about $15,671,000. Citigroup Inc. boosted its position in Black Stone Minerals by 36.2% during the third quarter. Citigroup Inc. now owns 347,200 shares of the oil and gas producer's stock valued at $4,562,000 after purchasing an additional 92,193 shares in the last quarter. Forum Financial Management LP purchased a new stake in Black Stone Minerals in the fourth quarter valued at about $3,987,000. Cullen Frost Bankers Inc. raised its stake in Black Stone Minerals by 154.8% in the fourth quarter. Cullen Frost Bankers Inc. now owns 143,484 shares of the oil and gas producer's stock valued at $1,907,000 after buying an additional 87,172 shares during the last quarter. Finally, Alps Advisors Inc. purchased a new stake in Black Stone Minerals in the third quarter valued at about $478,000. Institutional investors own 14.49% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on BSM. Zacks Research cut Black Stone Minerals from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 21st. Piper Sandler increased their price target on Black Stone Minerals from $13.00 to $14.00 and gave the company a "neutral" rating in a research note on Thursday, March 5th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Black Stone Minerals in a research note on Friday, April 24th. Three analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Black Stone Minerals has a consensus rating of "Reduce" and a consensus price target of $14.00.

Insider Transactions at Black Stone Minerals

In other news, SVP Luke Stevens Putman sold 30,276 shares of the firm's stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $15.25, for a total value of $461,709.00. Following the completion of the transaction, the senior vice president directly owned 761,417 shares in the company, valued at $11,611,609.25. This trade represents a 3.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Thomas L. Carter, Jr. bought 25,000 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were bought at an average cost of $13.47 per share, for a total transaction of $336,750.00. Following the completion of the acquisition, the chairman owned 3,662,450 shares of the company's stock, valued at $49,333,201.50. This trade represents a 0.69% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last three months, insiders bought 68,878 shares of company stock worth $924,471 and sold 100,176 shares worth $1,440,066. Company insiders own 17.80% of the company's stock.

Black Stone Minerals Trading Down 0.3%

Shares of NYSE:BSM opened at $13.86 on Friday. Black Stone Minerals, L.P. has a 52-week low of $11.78 and a 52-week high of $15.49. The stock has a market cap of $2.94 billion, a price-to-earnings ratio of 10.91 and a beta of 0.07. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. The business has a 50-day moving average price of $14.34 and a 200-day moving average price of $14.29.

Black Stone Minerals (NYSE:BSM - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.19). Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%.The firm had revenue of $59.36 million during the quarter, compared to analysts' expectations of $107.38 million. Equities analysts predict that Black Stone Minerals, L.P. will post 0.93 EPS for the current year.

Black Stone Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Friday, May 8th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 8.7%. The ex-dividend date was Friday, May 8th. Black Stone Minerals's dividend payout ratio (DPR) is presently 94.49%.

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.

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