Mirae Asset Global Investments Co. Ltd. Makes New $5.87 Million Investment in Black Stone Minerals, L.P. (NYSE:BSM)

Mirae Asset Global Investments Co. Ltd. acquired a new stake in Black Stone Minerals, L.P. (NYSE:BSM - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 367,741 shares of the oil and gas producer's stock, valued at approximately $5,869,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.16% of Black Stone Minerals at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BSM. Morgan Stanley lifted its stake in shares of Black Stone Minerals by 144.9% during the fourth quarter. Morgan Stanley now owns 4,004,701 shares of the oil and gas producer's stock valued at $67,559,000 after acquiring an additional 2,369,656 shares during the period. UBS Group AG raised its holdings in Black Stone Minerals by 12,416.2% during the 1st quarter. UBS Group AG now owns 1,587,809 shares of the oil and gas producer's stock worth $21,372,000 after purchasing an additional 1,575,123 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Black Stone Minerals by 239.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,152,661 shares of the oil and gas producer's stock valued at $19,445,000 after purchasing an additional 812,840 shares during the period. Epacria Capital Partners LLC bought a new position in shares of Black Stone Minerals in the 4th quarter valued at about $12,149,000. Finally, Bank of America Corp DE grew its position in shares of Black Stone Minerals by 1,353.9% during the 1st quarter. Bank of America Corp DE now owns 687,529 shares of the oil and gas producer's stock worth $10,787,000 after buying an additional 640,241 shares during the period. 14.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BSM. Piper Sandler raised their price objective on shares of Black Stone Minerals from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, March 7th. Stifel Nicolaus cut their price target on Black Stone Minerals from $21.00 to $20.00 and set a "buy" rating on the stock in a research note on Tuesday, January 23rd.

Insider Buying and Selling

In related news, Director D Mark Dewalch purchased 3,250 shares of Black Stone Minerals stock in a transaction dated Monday, February 26th. The stock was bought at an average price of $15.47 per share, for a total transaction of $50,277.50. Following the completion of the acquisition, the director now directly owns 320,436 shares of the company's stock, valued at $4,957,144.92. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 19.60% of the stock is owned by company insiders.

Black Stone Minerals Trading Down 2.1 %

Shares of NYSE:BSM traded down $0.33 during mid-day trading on Monday, reaching $15.73. The stock had a trading volume of 354,012 shares, compared to its average volume of 483,175. The firm has a 50 day simple moving average of $15.75 and a two-hundred day simple moving average of $16.53. Black Stone Minerals, L.P. has a twelve month low of $14.80 and a twelve month high of $18.55. The firm has a market cap of $3.31 billion, a PE ratio of 8.54 and a beta of 0.92.

Black Stone Minerals (NYSE:BSM - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The oil and gas producer reported $0.65 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.15. Black Stone Minerals had a net margin of 70.46% and a return on equity of 42.38%. The business had revenue of $190.84 million during the quarter, compared to analysts' expectations of $142.67 million. During the same quarter in the prior year, the company earned $0.71 EPS. On average, equities analysts anticipate that Black Stone Minerals, L.P. will post 1.42 EPS for the current fiscal year.

Black Stone Minerals Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 23rd. Investors of record on Friday, February 16th were paid a dividend of $0.475 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $1.90 dividend on an annualized basis and a yield of 12.08%. Black Stone Minerals's payout ratio is 101.60%.

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.