Cullen Frost Bankers Inc. Buys 87,172 Shares of Black Stone Minerals, L.P. $BSM

Cullen Frost Bankers Inc. lifted its stake in Black Stone Minerals, L.P. (NYSE:BSM) by 154.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 143,484 shares of the oil and gas producer’s stock after acquiring an additional 87,172 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Black Stone Minerals were worth $1,907,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in shares of Black Stone Minerals by 61.0% in the fourth quarter. Farther Finance Advisors LLC now owns 2,375 shares of the oil and gas producer’s stock worth $32,000 after acquiring an additional 900 shares during the period. Newbridge Financial Services Group Inc. boosted its holdings in shares of Black Stone Minerals by 65.8% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 4,943 shares of the oil and gas producer’s stock worth $66,000 after buying an additional 1,962 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Black Stone Minerals by 7,822.8% in the second quarter. Tower Research Capital LLC TRC now owns 7,289 shares of the oil and gas producer’s stock worth $95,000 after buying an additional 7,197 shares during the last quarter. Novare Capital Management LLC purchased a new position in shares of Black Stone Minerals in the fourth quarter worth approximately $191,000. Finally, Redhawk Wealth Advisors Inc. boosted its holdings in shares of Black Stone Minerals by 39.1% in the fourth quarter. Redhawk Wealth Advisors Inc. now owns 15,885 shares of the oil and gas producer’s stock worth $211,000 after buying an additional 4,469 shares during the last quarter. 14.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Black Stone Minerals news, Director Ashley J. Longmaid sold 11,128 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $13.45, for a total transaction of $149,671.60. Following the sale, the director owned 137,335 shares in the company, valued at approximately $1,847,155.75. This trade represents a 7.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Luke Stevens Putman sold 29,386 shares of the firm’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $13.75, for a total transaction of $404,057.50. Following the sale, the senior vice president owned 702,645 shares in the company, valued at approximately $9,661,368.75. The trade was a 4.01% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have bought 68,878 shares of company stock worth $924,471 and have sold 100,176 shares worth $1,440,066. 17.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BSM has been the topic of a number of research reports. Piper Sandler raised their price objective on shares of Black Stone Minerals from $13.00 to $14.00 and gave the stock a “neutral” rating in a report on Thursday, March 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Black Stone Minerals in a report on Friday, April 24th. Finally, Zacks Research downgraded shares of Black Stone Minerals from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 21st. Three research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average target price of $14.00.

Black Stone Minerals Stock Performance

BSM opened at $13.92 on Friday. The company has a current ratio of 2.34, a quick ratio of 2.34 and a debt-to-equity ratio of 0.24. The company has a market cap of $2.96 billion, a price-to-earnings ratio of 10.96 and a beta of 0.07. The company’s 50 day moving average is $14.37 and its 200 day moving average is $14.30. Black Stone Minerals, L.P. has a 12-month low of $11.78 and a 12-month high of $15.49.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, May 4th. The oil and gas producer reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.19). Black Stone Minerals had a return on equity of 42.40% and a net margin of 61.67%.The business had revenue of $59.36 million during the quarter, compared to analysts’ expectations of $107.38 million. On average, equities research analysts predict that Black Stone Minerals, L.P. will post 0.93 EPS for the current year.

Black Stone Minerals Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Friday, May 8th were paid a dividend of $0.30 per share. The ex-dividend date was Friday, May 8th. This represents a $1.20 dividend on an annualized basis and a yield of 8.6%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 94.49%.

Black Stone Minerals Profile

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.