Moors & Cabot Inc. Sells 35,850 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Key Points

• Moors & Cabot Inc. reduced its holdings in Black Stone Minerals, L.P. by 36.6% in Q1, now owning 62,100 shares valued at approximately $948,000.
• Black Stone Minerals recently announced a quarterly dividend of $0.30, translating to a 9.6% yield and a payout ratio of 163.04%.
• Analyst reviews reflect a downgrade of Black Stone Minerals from a "buy" to a "hold" rating, with Piper Sandler lowering the target price from $15.00 to $14.00.

Moors & Cabot Inc. cut its position in shares of Black Stone Minerals, L.P. (NYSE:BSM - Free Report) by 36.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 62,100 shares of the oil and gas producer's stock after selling 35,850 shares during the quarter. Moors & Cabot Inc.'s holdings in Black Stone Minerals were worth $948,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. NBC Securities Inc. increased its position 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 worth $30,000 after buying an additional 2,024 shares during the period. North Capital Inc. acquired a new stake in shares of Black Stone Minerals during the first quarter worth $46,000. State of Wyoming acquired a new stake in Black Stone Minerals in the fourth quarter worth $107,000. Exchange Traded Concepts LLC grew its holdings in Black Stone Minerals by 1,258.8% in 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 during the period. Finally, Virtus ETF Advisers LLC grew its holdings in Black Stone Minerals by 14.1% in 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 during the period. 14.49% of the stock is currently owned by institutional investors and hedge funds.

Black Stone Minerals Stock Up 1.0%

NYSE:BSM traded up $0.13 during trading hours on Tuesday, reaching $12.73. The company had a trading volume of 55,880 shares, compared to its average volume of 443,642. 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 firm has a market cap of $2.69 billion, a price-to-earnings ratio of 13.83 and a beta of 0.28. The business's 50-day simple moving average is $13.11 and its two-hundred day simple moving average is $14.09. Black Stone Minerals, L.P. has a twelve month low of $11.98 and a twelve month high of $15.66.

Black Stone Minerals (NYSE:BSM - Get Free Report) last released its quarterly earnings data 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 net margin of 55.74% and a return on equity of 32.76%. The firm had revenue of $159.49 million for the quarter, compared to analyst estimates of $112.19 million. On average, equities analysts expect that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 14th. Shareholders of record on Thursday, August 7th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 9.4%. Black Stone Minerals's dividend payout ratio (DPR) is 130.43%.

Insiders Place Their Bets

In other Black Stone Minerals news, SVP Carrie Pearson Clark sold 36,900 shares of the firm's stock in a transaction 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 transaction, the senior vice president directly owned 165,857 shares of the company's stock, valued at approximately $2,249,020.92. This trade represents a 18.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Thomas L. Carter, Jr. acquired 14,500 shares of the company's stock in a transaction on Wednesday, May 21st. The stock was acquired at an average cost of $13.52 per share, for a total transaction 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 approximately $45,286,875.92. This represents a 0.43% increase in their position. The disclosure for this purchase can be found here. 17.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

BSM has been the subject of a number of research reports. Wall Street Zen cut shares of Black Stone Minerals from a "buy" rating to a "hold" rating in a report on Thursday, May 15th. Piper Sandler reduced their price target on shares of Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating for the company in a report on Tuesday, May 13th.

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.