Black Stone Minerals, L.P. $BSM Stock Holdings Lifted by State of Wyoming

Key Points

• The State of Wyoming significantly increased its investment in Black Stone Minerals, L.P. by 370.4% during the first quarter, now holding 34,491 shares worth approximately $527,000.
• Black Stone Minerals reported earnings of $0.53 per share for the recent quarter, surpassing expectations, and achieved a net margin of 61.21%.
• The company recently paid a quarterly dividend of $0.30, resulting in a 9.8% dividend yield, although its payout ratio is currently above 100% at 103.45%.

State of Wyoming lifted its position in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 370.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,491 shares of the oil and gas producer's stock after acquiring an additional 27,158 shares during the period. State of Wyoming's holdings in Black Stone Minerals were worth $527,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in BSM. JPMorgan Chase & Co. increased its position in shares of Black Stone Minerals by 294.3% in the fourth quarter. JPMorgan Chase & Co. now owns 19,714 shares of the oil and gas producer's stock worth $288,000 after acquiring an additional 14,714 shares in the last quarter. Beacon Pointe Advisors LLC increased its position in shares of Black Stone Minerals by 48.9% in the fourth quarter. Beacon Pointe Advisors LLC now owns 93,293 shares of the oil and gas producer's stock worth $1,362,000 after acquiring an additional 30,639 shares in the last quarter. Northern Trust Corp purchased a new position in shares of Black Stone Minerals in the fourth quarter worth approximately $4,428,000. Aptus Capital Advisors LLC purchased a new position in shares of Black Stone Minerals in the fourth quarter worth approximately $4,876,000. Finally, Cetera Investment Advisers increased its position in shares of Black Stone Minerals by 70.2% in the fourth quarter. Cetera Investment Advisers now owns 26,021 shares of the oil and gas producer's stock worth $380,000 after acquiring an additional 10,737 shares in the last quarter. 14.49% of the stock is owned by hedge funds and other institutional investors.

Black Stone Minerals Stock Performance

BSM stock opened at $12.21 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 3.22 and a current ratio of 3.22. The stock has a market cap of $2.59 billion, a P/E ratio of 10.52 and a beta of 0.28. The firm has a 50 day simple moving average of $12.59 and a 200 day simple moving average of $13.72. Black Stone Minerals, L.P. has a 52 week low of $11.90 and a 52 week high of $15.66.

Black Stone Minerals (NYSE:BSM - Get Free Report) last posted its earnings results on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.30 by $0.23. The firm had revenue of $159.49 million during the quarter, compared to analysts' expectations of $112.19 million. Black Stone Minerals had a net margin of 61.21% and a return on equity of 39.67%. Research analysts anticipate that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current fiscal year.

Black Stone Minerals Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, August 7th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 9.8%. The ex-dividend date of this dividend was Thursday, August 7th. Black Stone Minerals's payout ratio is presently 103.45%.

Insider Activity

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. acquired 21,000 shares of Black Stone Minerals stock in a transaction that occurred on Wednesday, August 20th. The stock was acquired at an average price of $12.03 per share, with a total value of $252,630.00. Following the purchase, the chief executive officer owned 3,472,031 shares in the company, valued at approximately $41,768,532.93. This trade represents a 0.61% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have acquired 122,410 shares of company stock valued at $1,484,992. 17.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wall Street Zen downgraded shares of Black Stone Minerals from a "buy" rating to a "hold" rating in a research report on Thursday, May 15th. Piper Sandler decreased their price target on shares of Black Stone Minerals from $14.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $13.00.

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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