Cetera Investment Advisers Purchases 46,782 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Key Points

• Cetera Investment Advisers increased its holding in Black Stone Minerals by 179.8% in the first quarter, owning 72,803 shares valued at approximately $1.1 million.
• Black Stone Minerals reported $0.53 earnings per share for the last quarter, exceeding expectations of $0.30, with revenue of $159.49 million.
• The company recently announced a $0.30 quarterly dividend, reflecting a payout ratio of 103.45% and a dividend yield of 9.9% for the annualized dividend.

Cetera Investment Advisers raised its position in shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 179.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,803 shares of the oil and gas producer's stock after buying an additional 46,782 shares during the quarter. Cetera Investment Advisers' holdings in Black Stone Minerals were worth $1,112,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Penn Davis Mcfarland Inc. lifted its stake in shares of Black Stone Minerals by 16.3% in the 1st quarter. Penn Davis Mcfarland Inc. now owns 1,861,741 shares of the oil and gas producer's stock valued at $28,429,000 after purchasing an additional 260,559 shares during the last quarter. Cresset Asset Management LLC lifted its stake in shares of Black Stone Minerals by 500.5% in the 4th quarter. Cresset Asset Management LLC now owns 596,853 shares of the oil and gas producer's stock valued at $8,714,000 after purchasing an additional 497,457 shares during the last quarter. Epacria Capital Partners LLC lifted its stake in shares of Black Stone Minerals by 5.4% in the 4th quarter. Epacria Capital Partners LLC now owns 578,422 shares of the oil and gas producer's stock valued at $8,445,000 after purchasing an additional 29,724 shares during the last quarter. Concorde Financial Corp lifted its stake in shares of Black Stone Minerals by 0.5% in the 4th quarter. Concorde Financial Corp now owns 483,209 shares of the oil and gas producer's stock valued at $7,055,000 after purchasing an additional 2,202 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Black Stone Minerals by 1.7% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 395,880 shares of the oil and gas producer's stock valued at $6,045,000 after purchasing an additional 6,627 shares during the last quarter. Hedge funds and other institutional investors own 14.49% of the company's stock.

Black Stone Minerals Trading Down 1.4%

Shares of BSM stock traded down $0.17 on Friday, reaching $12.28. 438,401 shares of the company's stock were exchanged, compared to its average volume of 550,276. Black Stone Minerals, L.P. has a 52 week low of $11.96 and a 52 week high of $15.66. The company has a current ratio of 3.22, a quick ratio of 3.22 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $2.60 billion, a PE ratio of 10.59 and a beta of 0.28. The company's fifty day simple moving average is $12.88 and its 200 day simple moving average is $13.90.

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

Black Stone Minerals Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Investors of record on Thursday, August 7th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.8%. Black Stone Minerals's dividend payout ratio is currently 103.45%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on BSM. Wall Street Zen lowered Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Piper Sandler lowered their price objective on Black Stone Minerals from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday.

Insider Buying and Selling

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. purchased 9,200 shares of the firm's stock in a transaction that occurred on Tuesday, August 12th. The stock was purchased at an average cost of $12.36 per share, with a total value of $113,712.00. Following the purchase, the chief executive officer owned 3,431,031 shares of the company's stock, valued at approximately $42,407,543.16. The trade was a 0.27% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Carrie Pearson Clark sold 36,900 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The stock was sold at an average price of $13.56, for a total value of $500,364.00. Following the sale, the senior vice president directly owned 165,857 shares of the company's stock, valued at $2,249,020.92. This represents a 18.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have purchased a total of 95,910 shares of company stock valued at $1,189,002 over the last three months. 17.80% of the stock is owned by corporate insiders.

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.