Bank of America Corp DE Lowers Stock Position in Black Stone Minerals, L.P. (NYSE:BSM)

Bank of America Corp DE reduced its stake in shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 13.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,947,202 shares of the oil and gas producer's stock after selling 302,700 shares during the period. Bank of America Corp DE owned approximately 0.92% of Black Stone Minerals worth $28,429,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Annandale Capital LLC boosted its position in shares of Black Stone Minerals by 5.5% in the 4th quarter. Annandale Capital LLC now owns 14,382 shares of the oil and gas producer's stock worth $210,000 after buying an additional 747 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Black Stone Minerals by 100.0% in the fourth quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer's stock valued at $29,000 after purchasing an additional 1,000 shares in the last quarter. Virtus ETF Advisers LLC grew its position in shares of Black Stone Minerals by 14.1% in the fourth quarter. Virtus ETF Advisers LLC now owns 11,838 shares of the oil and gas producer's stock valued at $173,000 after purchasing an additional 1,463 shares during the last quarter. Flagship Harbor Advisors LLC grew its position in shares of Black Stone Minerals by 7.8% in the fourth quarter. Flagship Harbor Advisors LLC now owns 24,378 shares of the oil and gas producer's stock valued at $356,000 after purchasing an additional 1,774 shares during the last quarter. Finally, Colonial River Investments LLC increased its stake in shares of Black Stone Minerals by 10.2% during the 4th quarter. Colonial River Investments LLC now owns 19,415 shares of the oil and gas producer's stock worth $283,000 after purchasing an additional 1,790 shares in the last quarter. 14.49% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BSM has been the topic of a number of analyst reports. StockNews.com cut Black Stone Minerals from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Piper Sandler reduced their price objective on Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating on the stock 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.

Black Stone Minerals Stock Performance

NYSE BSM traded down $0.15 during mid-day trading on Wednesday, reaching $13.48. 327,663 shares of the stock were exchanged, compared to its average volume of 437,041. The stock has a market capitalization of $2.85 billion, a PE ratio of 8.32 and a beta of 0.34. Black Stone Minerals, L.P. has a 1-year low of $12.80 and a 1-year high of $16.30. The business's fifty day simple moving average is $14.39 and its 200 day simple moving average is $14.72.

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

Black Stone Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Stockholders of record on Thursday, May 8th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.50 annualized dividend and a dividend yield of 11.13%. Black Stone Minerals's payout ratio is currently 163.04%.

Black Stone Minerals Profile

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.