Black Stone Minerals, L.P. $BSM Shares Acquired by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Black Stone Minerals by 3,141.2%, acquiring 885,311 shares, and now holds a total of 913,495 shares valued at approximately $13.9 million.
• Black Stone Minerals reported earnings of $0.53 per share, exceeding analyst expectations, and had a net margin of 61.21%.
• The company recently announced a quarterly dividend of $0.30, with a high payout ratio of 103.45%, indicating potential financial strain on future dividends.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 3,141.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 913,495 shares of the oil and gas producer's stock after buying an additional 885,311 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.43% of Black Stone Minerals worth $13,949,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Doliver Advisors LP boosted its stake in shares of Black Stone Minerals by 2.6% in the 1st quarter. Doliver Advisors LP now owns 31,734 shares of the oil and gas producer's stock valued at $485,000 after buying an additional 791 shares during the period. Vident Advisory LLC boosted its stake in shares of Black Stone Minerals by 2.7% in the 4th quarter. Vident Advisory LLC now owns 31,738 shares of the oil and gas producer's stock valued at $463,000 after buying an additional 846 shares during the period. Fiduciary Group LLC boosted its stake in shares of Black Stone Minerals by 7.1% in the 1st quarter. Fiduciary Group LLC now owns 21,218 shares of the oil and gas producer's stock valued at $324,000 after buying an additional 1,406 shares during the period. Avidian Wealth Enterprises LLC lifted its stake in Black Stone Minerals by 5.5% during the first quarter. Avidian Wealth Enterprises LLC now owns 29,000 shares of the oil and gas producer's stock worth $443,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Guardian Wealth Management Inc. lifted its stake in Black Stone Minerals by 14.9% during the first quarter. Guardian Wealth Management Inc. now owns 12,010 shares of the oil and gas producer's stock worth $183,000 after purchasing an additional 1,553 shares during the last quarter. Hedge funds and other institutional investors own 14.49% of the company's stock.

Analysts Set New Price Targets

Separately, Piper Sandler decreased their target price on Black Stone Minerals from $14.00 to $13.00 and set a "neutral" rating for the company in a research note on Thursday, August 14th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, Black Stone Minerals has an average rating of "Hold" and a consensus target price of $13.00.

Insider Buying and Selling

In other news, CEO Thomas L. Carter, Jr. purchased 27,500 shares of the business's stock in a transaction on Friday, August 8th. The shares were bought at an average price of $12.20 per share, with a total value of $335,500.00. Following the completion of the transaction, the chief executive officer directly owned 3,396,831 shares in the company, valued at approximately $41,441,338.20. This represents a 0.82% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders purchased a total of 163,080 shares of company stock worth $1,983,910 over the last quarter. Insiders own 17.80% of the company's stock.

Black Stone Minerals Stock Performance

BSM traded down $0.05 during trading on Friday, hitting $12.54. 340,539 shares of the stock were exchanged, compared to its average volume of 502,650. The firm has a market capitalization of $2.66 billion, a P/E ratio of 10.81 and a beta of 0.29. Black Stone Minerals, L.P. has a 1-year low of $11.78 and a 1-year high of $15.66. The stock has a fifty day moving average price of $12.43 and a two-hundred day moving average price of $13.50. The company has a quick ratio of 3.22, a current ratio of 3.22 and a debt-to-equity ratio of 0.12.

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 EPS for the quarter, topping the consensus estimate of $0.30 by $0.23. The company had revenue of $159.49 million for the quarter, compared to analyst estimates of $112.19 million. Black Stone Minerals had a return on equity of 39.67% and a net margin of 61.21%. As a group, sell-side analysts predict that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current 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 of this dividend was Thursday, August 7th. This represents a $1.20 annualized dividend and a yield of 9.6%. Black Stone Minerals's payout ratio is 103.45%.

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.