Evergreen Capital Management LLC Decreases Stock Position in Black Stone Minerals, L.P. $BSM

Key Points

• Evergreen Capital Management LLC has reduced its stake in Black Stone Minerals, L.P. by 18.1%, now owning approximately 263,100 shares valued at $4,018,000.
• Black Stone Minerals reported earnings of $0.53 per share for the last quarter, significantly exceeding analysts' expectations, and had a net margin of 61.21%.
• The company recently announced a $0.30 quarterly dividend, resulting in a 9.8% yield, although its dividend payout ratio is notably high at 103.45%.

Evergreen Capital Management LLC trimmed its position in shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 18.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 263,100 shares of the oil and gas producer's stock after selling 58,120 shares during the period. Evergreen Capital Management LLC owned 0.12% of Black Stone Minerals worth $4,018,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. SVB Wealth LLC bought a new position in shares of Black Stone Minerals in the first quarter worth $25,000. PNC Financial Services Group Inc. bought a new position in shares of Black Stone Minerals in the first quarter worth $29,000. NBC Securities Inc. boosted its holdings in shares of Black Stone Minerals by 202,400.0% in the first quarter. NBC Securities Inc. now owns 2,025 shares of the oil and gas producer's stock worth $30,000 after acquiring an additional 2,024 shares during the period. North Capital Inc. bought a new position in shares of Black Stone Minerals in the first quarter worth $46,000. Finally, State of Wyoming bought a new position in shares of Black Stone Minerals in the fourth quarter worth $107,000. 14.49% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BSM shares. Piper Sandler cut their price target on Black Stone Minerals from $14.00 to $13.00 and set a "neutral" rating for the company in a report on Thursday, August 14th. Wall Street Zen lowered Black Stone Minerals from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $13.00.

Black Stone Minerals Price Performance

NYSE BSM traded up $0.10 during trading hours on Thursday, reaching $12.23. 150,417 shares of the stock traded hands, compared to its average volume of 453,976. The stock has a 50 day simple moving average of $12.55 and a two-hundred day simple moving average of $13.66. Black Stone Minerals, L.P. has a 1 year low of $11.90 and a 1 year high of $15.66. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.22 and a quick ratio of 3.22. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 10.54 and a beta of 0.29.

Black Stone Minerals (NYSE:BSM - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The oil and gas producer reported $0.53 earnings per share for the quarter, beating 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 business had revenue of $159.49 million for the quarter, compared to the consensus estimate of $112.19 million. On average, analysts predict that Black Stone Minerals, L.P. will post 1.36 EPS for the current fiscal year.

Black Stone Minerals Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th were given a dividend of $0.30 per share. The ex-dividend date was Thursday, August 7th. This represents a $1.20 dividend on an annualized basis and a yield of 9.8%. Black Stone Minerals's dividend payout ratio (DPR) is presently 103.45%.

Insiders Place Their Bets

In other news, CEO Thomas L. Carter, Jr. purchased 21,000 shares of the stock in a transaction on Wednesday, August 20th. The shares were acquired at an average price of $12.03 per share, for a total transaction of $252,630.00. Following the completion of the transaction, the chief executive officer directly owned 3,472,031 shares of the company's stock, valued at approximately $41,768,532.93. This trade represents a 0.61% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. Insiders bought a total of 122,410 shares of company stock worth $1,484,992 in the last quarter. Company insiders own 17.80% of the company's stock.

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.