Black Stone Minerals, L.P. $BSM Shares Acquired by Corient Private Wealth LLC

Key Points

• Corient Private Wealth LLC increased its stake in Black Stone Minerals by 140.2% in the fourth quarter, ending with 207,367 shares worth about $2.76 million.
• Black Stone Minerals reported weaker-than-expected first-quarter results, posting EPS of $0.03 versus the $0.22 estimate and revenue of $59.36 million versus the $107.38 million consensus.
• The company maintained a high dividend yield, paying a quarterly dividend of $0.30 per share, or $1.20 annually, which works out to a yield of about 8.6%.

Corient Private Wealth LLC raised its stake in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 140.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 207,367 shares of the oil and gas producer's stock after purchasing an additional 121,043 shares during the quarter. Corient Private Wealth LLC owned 0.10% of Black Stone Minerals worth $2,756,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Doliver Advisors LP increased its stake in Black Stone Minerals by 2.5% in the 4th quarter. Doliver Advisors LP now owns 35,024 shares of the oil and gas producer's stock valued at $465,000 after purchasing an additional 850 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of Black Stone Minerals by 61.0% in the 4th quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer's stock valued at $32,000 after purchasing an additional 900 shares during the last quarter. WMG Financial Advisors LLC grew its position in Black Stone Minerals by 6.3% during the fourth quarter. WMG Financial Advisors LLC now owns 16,750 shares of the oil and gas producer's stock valued at $223,000 after acquiring an additional 1,000 shares during the period. Moody National Bank Trust Division raised its holdings in Black Stone Minerals by 5.7% in the fourth quarter. Moody National Bank Trust Division now owns 20,221 shares of the oil and gas producer's stock valued at $269,000 after buying an additional 1,085 shares during the period. Finally, IHT Wealth Management LLC raised its stake in shares of Black Stone Minerals by 5.1% in the 2nd quarter. IHT Wealth Management LLC now owns 22,598 shares of the oil and gas producer's stock valued at $296,000 after acquiring an additional 1,104 shares during the period. 14.49% of the stock is owned by hedge funds and other institutional investors.

Black Stone Minerals Price Performance

Shares of Black Stone Minerals stock opened at $14.03 on Monday. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24. The company's 50-day moving average price is $13.84 and its two-hundred day moving average price is $14.30. 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 $2.98 billion, a PE ratio of 11.05 and a beta of 0.05.

Black Stone Minerals (NYSE:BSM - Get Free Report) last issued its earnings results on Monday, May 4th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.22 by ($0.19). The company had revenue of $59.36 million during the quarter, compared to analyst estimates of $107.38 million. Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%. As a group, sell-side analysts anticipate that Black Stone Minerals, L.P. will post 0.97 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Friday, May 8th were issued a $0.30 dividend. The ex-dividend date was Friday, May 8th. This represents a $1.20 dividend on an annualized basis and a yield of 8.6%. Black Stone Minerals's dividend payout ratio is currently 94.49%.

Analyst Ratings Changes

A number of research firms have recently commented on BSM. Piper Sandler boosted their target price on shares of Black Stone Minerals from $13.00 to $14.00 and gave the stock a "neutral" rating in a research report on Thursday, March 5th. Royal Bank Of Canada began coverage on Black Stone Minerals in a research report on Friday, May 29th. They set a "sector perform" rating and a $16.00 price target on the stock. Zacks Research cut Black Stone Minerals from a "hold" rating to a "strong sell" rating in a research note on Tuesday, April 21st. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Black Stone Minerals in a report on Friday, April 24th. Four research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average price target of $15.00.

Insider Transactions at Black Stone Minerals

In other Black Stone Minerals news, Chairman Thomas L. Carter, Jr. purchased 25,000 shares of the company's stock in a transaction dated Monday, May 11th. The shares were bought at an average price of $13.47 per share, for a total transaction of $336,750.00. Following the purchase, the chairman directly owned 3,662,450 shares in the company, valued at $49,333,201.50. This trade represents a 0.69% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director D Mark Dewalch bought 37,650 shares of the stock in a transaction on Thursday, May 28th. The shares were acquired at an average cost of $13.21 per share, for a total transaction of $497,356.50. Following the completion of the transaction, the director directly owned 431,495 shares of the company's stock, valued at approximately $5,700,048.95. The trade was a 9.56% 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 have bought 179,254 shares of company stock worth $2,407,265 and have sold 69,900 shares worth $978,357. Insiders own 17.70% of the company's stock.

About Black Stone Minerals

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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