Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Black Stone Minerals LP (NYSE:BSM) by 0.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 297,384 shares of the oil and gas producer’s stock after acquiring an additional 835 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Black Stone Minerals were worth $5,246,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the stock. Bank of Montreal Can boosted its position in Black Stone Minerals by 432.3% during the 4th quarter. Bank of Montreal Can now owns 125,080 shares of the oil and gas producer’s stock worth $1,936,000 after acquiring an additional 101,580 shares during the last quarter. Oppenheimer & Co. Inc. bought a new stake in Black Stone Minerals in the 4th quarter valued at $387,000. Welch & Forbes LLC grew its holdings in Black Stone Minerals by 34.5% in the 4th quarter. Welch & Forbes LLC now owns 68,044 shares of the oil and gas producer’s stock valued at $1,053,000 after buying an additional 17,446 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Black Stone Minerals by 13.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,135,686 shares of the oil and gas producer’s stock valued at $17,580,000 after buying an additional 135,686 shares in the last quarter. Finally, PNC Financial Services Group Inc. acquired a new position in Black Stone Minerals in the 4th quarter valued at $96,000. Institutional investors and hedge funds own 15.42% of the company’s stock.
Several analysts recently weighed in on BSM shares. Zacks Investment Research raised Black Stone Minerals from a “sell” rating to a “hold” rating and set a $20.00 price objective on the stock in a research note on Thursday, February 28th. Royal Bank of Canada initiated coverage on Black Stone Minerals in a research report on Thursday, April 18th. They issued an “outperform” rating and a $23.00 target price for the company. Finally, Raymond James set a $22.00 price objective on Black Stone Minerals and gave the stock a “buy” rating in a research report on Thursday, March 7th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $21.50.
Black Stone Minerals (NYSE:BSM) last announced its earnings results on Monday, February 25th. The oil and gas producer reported $0.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.44. The company had revenue of $246.05 million for the quarter, compared to analysts’ expectations of $137.77 million. Black Stone Minerals had a return on equity of 25.55% and a net margin of 36.75%. As a group, research analysts predict that Black Stone Minerals LP will post 0.98 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 16th will be given a dividend of $0.37 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $1.48 annualized dividend and a dividend yield of 8.59%. Black Stone Minerals’s payout ratio is 102.07%.
In related news, SVP Brock Morris sold 60,000 shares of Black Stone Minerals stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $17.32, for a total transaction of $1,039,200.00. Following the transaction, the senior vice president now owns 378,806 shares of the company’s stock, valued at $6,560,919.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Luke Stevens Putman sold 18,783 shares of Black Stone Minerals stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $17.32, for a total value of $325,321.56. Following the transaction, the senior vice president now directly owns 304,910 shares in the company, valued at approximately $5,281,041.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 162,125 shares of company stock worth $2,852,869. 24.40% of the stock is owned by insiders.
Black Stone Minerals Company Profile
Black Stone Minerals, L.P. owns and manages oil and natural gas mineral interests in the United States. The company owns mineral interests in approximately 16.8 million acres, nonparticipating royalty interests in 1.9 million acres, and overriding royalty interests in 2.1 million acres located in 41 states and 64 onshore basins in the continental United States.
Further Reading: Percentage Gainers
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