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Krane Funds Advisors LLC Buys New Stake in Black Stone Minerals, L.P. (NYSE:BSM)

Black Stone Minerals logo with Energy background

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

Several other institutional investors also recently modified their holdings of BSM. Jones Financial Companies Lllp boosted its holdings 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 valued at $29,000 after acquiring an additional 1,000 shares during the period. NBC Securities Inc. grew its stake in shares of Black Stone Minerals by 202,400.0% during the first quarter. NBC Securities Inc. now owns 2,025 shares of the oil and gas producer's stock valued at $30,000 after purchasing an additional 2,024 shares during the last quarter. State of Wyoming bought a new position in Black Stone Minerals in the fourth quarter valued at approximately $107,000. Exchange Traded Concepts LLC boosted its position in shares of Black Stone Minerals by 1,258.8% during the first quarter. Exchange Traded Concepts LLC now owns 7,623 shares of the oil and gas producer's stock worth $116,000 after purchasing an additional 7,062 shares in the last quarter. Finally, Virtus ETF Advisers LLC boosted its position in shares of 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 purchasing an additional 1,463 shares in the last quarter. Institutional investors own 14.49% of the company's stock.

Insiders Place Their Bets

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. bought 14,500 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were purchased at an average price of $13.52 per share, for a total transaction of $196,040.00. Following the acquisition, the chief executive officer owned 3,349,621 shares in the company, valued at approximately $45,286,875.92. This represents a 0.43% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Carrie Pearson Clark sold 36,900 shares of the company's stock in a transaction dated Thursday, May 29th. The stock was sold at an average price of $13.56, for a total transaction of $500,364.00. Following the completion of the transaction, the senior vice president owned 165,857 shares in the company, valued at approximately $2,249,020.92. The trade was a 18.20% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 17.80% of the company's stock.

Wall Street Analysts Forecast Growth

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

Get Our Latest Stock Report on Black Stone Minerals

Black Stone Minerals Stock Up 0.4%

BSM traded up $0.05 during trading on Friday, hitting $13.16. 411,894 shares of the company's stock were exchanged, compared to its average volume of 441,717. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.08. The business's 50 day moving average is $13.59 and its two-hundred day moving average is $14.35. Black Stone Minerals, L.P. has a fifty-two week low of $12.78 and a fifty-two week high of $15.81. The stock has a market cap of $2.78 billion, a P/E ratio of 14.30 and a beta of 0.30.

Black Stone Minerals Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 15th. Shareholders of record on Thursday, May 8th were paid a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a dividend yield of 11.40%. The ex-dividend date was Thursday, May 8th. Black Stone Minerals's dividend payout ratio (DPR) is presently 163.04%.

About Black Stone Minerals

(Free Report)

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.

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Institutional Ownership by Quarter for Black Stone Minerals (NYSE:BSM)

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