Krane Funds Advisors LLC Buys Shares of 29,230 Black Stone Minerals, L.P. (NYSE:BSM)

Krane Funds Advisors LLC acquired a new position in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,230 shares of the oil and gas producer's stock, valued at approximately $446,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Jones Financial Companies Lllp increased its stake in Black Stone Minerals by 100.0% in the 4th quarter. Jones Financial Companies Lllp now owns 2,000 shares of the oil and gas producer's stock worth $29,000 after buying an additional 1,000 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its stake in shares of Black Stone Minerals by 341.5% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 57,790 shares of the oil and gas producer's stock worth $844,000 after acquiring an additional 44,700 shares during the period. Bahl & Gaynor Inc. grew its position in shares of Black Stone Minerals by 10.8% during the fourth quarter. Bahl & Gaynor Inc. now owns 61,500 shares of the oil and gas producer's stock worth $898,000 after purchasing an additional 6,000 shares in the last quarter. Raymond James Financial Inc. bought a new stake in Black Stone Minerals during the 4th quarter valued at approximately $4,211,000. Finally, Moors & Cabot Inc. lifted its holdings in Black Stone Minerals by 4.8% in the 4th quarter. Moors & Cabot Inc. now owns 97,950 shares of the oil and gas producer's stock worth $1,430,000 after purchasing an additional 4,500 shares in the last quarter. 14.49% of the stock is currently owned by institutional investors.

Black Stone Minerals Price Performance

Black Stone Minerals stock traded down $0.04 during midday trading on Wednesday, reaching $13.10. 990,024 shares of the stock traded hands, compared to its average volume of 441,868. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.08. Black Stone Minerals, L.P. has a 12 month low of $12.78 and a 12 month high of $16.03. The stock's fifty day moving average is $13.64 and its 200-day moving average is $14.36. The stock has a market cap of $2.77 billion, a P/E ratio of 14.24 and a beta of 0.30.

Black Stone Minerals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 15th. Stockholders 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 11.45%. Black Stone Minerals's dividend payout ratio (DPR) is presently 163.04%.

Insider Activity

In related news, CEO Thomas L. Carter, Jr. acquired 14,500 shares of Black Stone Minerals stock in a transaction on Wednesday, May 21st. The shares were bought at an average cost of $13.52 per share, with a total value of $196,040.00. Following the completion of the purchase, the chief executive officer directly owned 3,349,621 shares of the company's stock, valued at $45,286,875.92. The trade was a 0.43% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Carrie Pearson Clark sold 36,900 shares of the firm's stock in a transaction that occurred on Thursday, May 29th. The shares were sold at an average price of $13.56, for a total value of $500,364.00. Following the completion of the sale, the senior vice president directly owned 165,857 shares of the company's stock, valued at $2,249,020.92. The trade was a 18.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. 17.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Royal Bank Of Canada raised shares of Black Stone Minerals to a "hold" rating in a report on Friday, March 14th. Piper Sandler cut their target price on shares of Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating for the company in a research note on Tuesday, May 13th. Finally, Wall Street Zen cut shares of Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th.

Black Stone Minerals Company 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.