Northern Trust Corp Purchases Shares of 303,314 Black Stone Minerals, L.P. (NYSE:BSM)

Northern Trust Corp purchased a new stake in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 303,314 shares of the oil and gas producer's stock, valued at approximately $4,428,000. Northern Trust Corp owned 0.14% of Black Stone Minerals as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BSM. Annandale Capital LLC raised its stake in shares of Black Stone Minerals by 5.5% during the 4th quarter. Annandale Capital LLC now owns 14,382 shares of the oil and gas producer's stock worth $210,000 after purchasing an additional 747 shares in the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of 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 worth $29,000 after buying an additional 1,000 shares during the last quarter. Virtus ETF Advisers LLC lifted its holdings 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 buying an additional 1,463 shares during the last quarter. Flagship Harbor Advisors LLC increased its position in shares of Black Stone Minerals by 7.8% during the fourth quarter. Flagship Harbor Advisors LLC now owns 24,378 shares of the oil and gas producer's stock valued at $356,000 after purchasing an additional 1,774 shares during the period. Finally, Colonial River Investments LLC increased its position in shares of Black Stone Minerals by 10.2% during the fourth quarter. Colonial River Investments LLC now owns 19,415 shares of the oil and gas producer's stock valued at $283,000 after purchasing an additional 1,790 shares during the period. 14.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on BSM. Royal Bank of Canada upgraded Black Stone Minerals to a "hold" rating in a report on Friday, March 14th. Wall Street Zen lowered Black Stone Minerals from a "buy" rating to a "hold" rating in a research note on Thursday, May 15th. Finally, Piper Sandler cut their target price on Black Stone Minerals from $15.00 to $14.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 13th.

Insider Buying and Selling at Black Stone Minerals

In other Black Stone Minerals news, CEO Thomas L. Carter, Jr. purchased 14,500 shares of the firm's stock in a transaction dated Wednesday, May 21st. The shares were bought at an average price of $13.52 per share, for a total transaction of $196,040.00. Following the purchase, the chief executive officer now owns 3,349,621 shares in the company, valued at approximately $45,286,875.92. This trade represents a 0.43% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 17.80% of the company's stock.

Black Stone Minerals Trading Up 0.6%

Shares of BSM traded up $0.08 during mid-day trading on Tuesday, reaching $13.57. The company's stock had a trading volume of 274,381 shares, compared to its average volume of 435,608. Black Stone Minerals, L.P. has a 1-year low of $12.80 and a 1-year high of $16.30. The stock has a market cap of $2.87 billion, a P/E ratio of 8.38 and a beta of 0.34. The business has a 50-day simple moving average of $14.22 and a two-hundred day simple moving average of $14.67.

Black Stone Minerals (NYSE:BSM - Get Free Report) last released its quarterly earnings results on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.21). The firm had revenue of $83.73 million for the quarter, compared to analyst estimates of $115.46 million. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. Research analysts anticipate that Black Stone Minerals, L.P. will post 1.36 EPS for the current year.

Black Stone Minerals Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 15th. Shareholders 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 annualized dividend and a yield of 11.05%. Black Stone Minerals's dividend payout ratio is presently 163.04%.

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.