Bank of America Corp DE Sells 302,700 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Bank of America Corp DE trimmed its position in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 13.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,947,202 shares of the oil and gas producer's stock after selling 302,700 shares during the quarter. Bank of America Corp DE owned about 0.92% of Black Stone Minerals worth $28,429,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in Black Stone Minerals by 100.0% during the fourth quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer's stock worth $29,000 after acquiring an additional 1,000 shares during the last quarter. JPMorgan Chase & Co. bought a new stake in Black Stone Minerals during the third quarter worth approximately $76,000. Virtus ETF Advisers LLC increased 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 acquiring an additional 1,463 shares during the last quarter. Jump Financial LLC bought a new stake in Black Stone Minerals during the fourth quarter worth approximately $185,000. Finally, Annandale Capital LLC increased its stake in 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 worth $210,000 after acquiring an additional 747 shares during the last quarter. 14.49% of the stock is owned by institutional investors.

Black Stone Minerals Price Performance

Shares of NYSE:BSM traded up $0.04 during trading hours on Friday, hitting $13.51. 225,273 shares of the company's stock traded hands, compared to its average volume of 436,507. Black Stone Minerals, L.P. has a 1 year low of $12.80 and a 1 year high of $16.30. The business has a fifty day moving average price of $14.29 and a 200-day moving average price of $14.70. The firm has a market capitalization of $2.85 billion, a P/E ratio of 8.34 and a beta of 0.34.

Black Stone Minerals (NYSE:BSM - Get Free Report) last announced its earnings results on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.21). Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. The business had revenue of $83.73 million for the quarter, compared to analysts' expectations of $115.46 million. As a group, equities analysts predict that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Investors of record on Thursday, May 8th were issued a $0.375 dividend. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 11.11%. Black Stone Minerals's payout ratio is 163.04%.

Analyst Ratings Changes

Several equities research analysts have weighed in on BSM shares. Wall Street Zen cut Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Piper Sandler dropped their target price 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, Royal Bank of Canada upgraded Black Stone Minerals to a "hold" rating in a research report on Friday, March 14th.

Insider Activity at Black Stone Minerals

In other news, CEO Thomas L. Carter, Jr. purchased 14,500 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was purchased at an average price of $13.52 per share, for a total transaction of $196,040.00. Following the completion of the acquisition, the chief executive officer now owns 3,349,621 shares of the company's stock, valued at approximately $45,286,875.92. This trade represents a 0.43% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 17.80% of the stock is owned by company 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.