Cullen Frost Bankers Inc. Purchases 87,172 Shares of Black Stone Minerals, L.P. $BSM

Key Points

• Cullen Frost Bankers Inc. boosted its stake in Black Stone Minerals by 154.8% in the fourth quarter, buying 87,172 additional shares and bringing its total holding to 143,484 shares worth about $1.91 million.
• Black Stone Minerals reported weaker-than-expected quarterly results, posting EPS of $0.03 versus estimates of $0.22 and revenue of $59.36 million versus expectations of $107.38 million.
• The partnership paid a $0.30 quarterly dividend, equal to an annualized yield of 8.6%, though its payout ratio is high at 94.49%; analysts currently rate the stock a consensus “Reduce” with an average price target of $14.

Cullen Frost Bankers Inc. boosted its position in shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 154.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 143,484 shares of the oil and gas producer's stock after buying an additional 87,172 shares during the quarter. Cullen Frost Bankers Inc. owned approximately 0.07% of Black Stone Minerals worth $1,907,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Doliver Advisors LP raised its holdings in Black Stone Minerals by 2.5% during the 4th quarter. Doliver Advisors LP now owns 35,024 shares of the oil and gas producer's stock valued at $465,000 after buying an additional 850 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in 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 worth $32,000 after purchasing an additional 900 shares in the last quarter. Avidian Wealth Enterprises LLC raised its holdings in Black Stone Minerals by 3.4% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 30,000 shares of the oil and gas producer's stock worth $394,000 after purchasing an additional 1,000 shares in the last quarter. WMG Financial Advisors LLC raised its holdings in Black Stone Minerals by 6.3% in the 4th quarter. WMG Financial Advisors LLC now owns 16,750 shares of the oil and gas producer's stock worth $223,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Moody National Bank Trust Division raised its holdings in Black Stone Minerals by 5.7% in the 4th quarter. Moody National Bank Trust Division now owns 20,221 shares of the oil and gas producer's stock worth $269,000 after purchasing an additional 1,085 shares in the last quarter. 14.49% of the stock is currently owned by institutional investors.

Insider Activity at Black Stone Minerals

In other news, Director Ashley J. Longmaid sold 11,128 shares of the firm's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $13.45, for a total transaction of $149,671.60. Following the sale, the director owned 137,335 shares of the company's stock, valued at $1,847,155.75. This trade represents a 7.50% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Luke Stevens Putman sold 29,386 shares of Black Stone Minerals stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $13.75, for a total transaction of $404,057.50. Following the completion of the sale, the senior vice president owned 702,645 shares of the company's stock, valued at $9,661,368.75. This represents a 4.01% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have bought 68,878 shares of company stock valued at $924,471 and have sold 100,176 shares valued at $1,440,066. 17.80% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on BSM shares. Weiss Ratings restated a "hold (c)" rating on shares of Black Stone Minerals in a report on Friday, April 24th. Piper Sandler increased their price target on shares of Black Stone Minerals from $13.00 to $14.00 and gave the stock a "neutral" rating in a research note on Thursday, March 5th. Finally, Zacks Research downgraded shares of Black Stone Minerals from a "hold" rating to a "strong sell" rating in a research report on Tuesday, April 21st. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Reduce" and an average price target of $14.00.

Black Stone Minerals Stock Performance

Shares of BSM stock opened at $13.92 on Friday. Black Stone Minerals, L.P. has a one year low of $11.78 and a one year high of $15.49. The company's 50-day moving average is $14.37 and its 200 day moving average is $14.30. The company has a market capitalization of $2.96 billion, a price-to-earnings ratio of 10.96 and a beta of 0.07. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.34 and a current ratio of 2.34.

Black Stone Minerals (NYSE:BSM - Get Free Report) last announced its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.03 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.19). Black Stone Minerals had a net margin of 61.67% and a return on equity of 42.40%. The firm had revenue of $59.36 million for the quarter, compared to analysts' expectations of $107.38 million. Sell-side analysts expect that Black Stone Minerals, L.P. will post 0.93 EPS for the current fiscal year.

Black Stone Minerals Dividend Announcement

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

Black Stone Minerals Profile

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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