Skandinaviska Enskilda Banken AB publ Makes New Investment in Black Stone Minerals LP (NYSE:BSM)

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Skandinaviska Enskilda Banken AB publ acquired a new position in shares of Black Stone Minerals LP (NYSE:BSM) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 21,200 shares of the oil and gas producer’s stock, valued at approximately $329,000.

Other institutional investors have also recently made changes to their positions in the company. Alps Advisors Inc. purchased a new position in shares of Black Stone Minerals during the first quarter worth approximately $411,000. Raymond James & Associates boosted its stake in shares of Black Stone Minerals by 4.1% during the first quarter. Raymond James & Associates now owns 92,063 shares of the oil and gas producer’s stock valued at $1,624,000 after purchasing an additional 3,664 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Black Stone Minerals by 0.3% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 297,384 shares of the oil and gas producer’s stock valued at $5,246,000 after purchasing an additional 835 shares in the last quarter. First Trust Advisors LP boosted its stake in shares of Black Stone Minerals by 10.6% during the first quarter. First Trust Advisors LP now owns 263,275 shares of the oil and gas producer’s stock valued at $4,644,000 after purchasing an additional 25,159 shares in the last quarter. Finally, Kempner Capital Management Inc. boosted its stake in Black Stone Minerals by 54.8% in the second quarter. Kempner Capital Management Inc. now owns 237,526 shares of the oil and gas producer’s stock valued at $3,682,000 after acquiring an additional 84,037 shares in the last quarter. Institutional investors own 20.88% of the company’s stock.

Several brokerages have weighed in on BSM. Citigroup set a $16.00 target price on shares of Black Stone Minerals and gave the company a “buy” rating in a research note on Monday, August 12th. Zacks Investment Research upgraded shares of Black Stone Minerals from a “sell” rating to a “hold” rating in a research note on Monday, August 12th. ValuEngine downgraded shares of Black Stone Minerals from a “hold” rating to a “sell” rating in a research note on Monday, June 24th. Finally, TheStreet downgraded shares of Black Stone Minerals from a “b-” rating to a “c+” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.25.

In related news, Director D Mark Dewalch bought 5,350 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were acquired at an average cost of $16.44 per share, with a total value of $87,954.00. Following the completion of the transaction, the director now owns 174,272 shares of the company’s stock, valued at $2,865,031.68. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 24.40% of the stock is owned by company insiders.

Shares of BSM traded up $0.63 during trading hours on Friday, reaching $14.76. The company had a trading volume of 691,377 shares, compared to its average volume of 142,106. The firm has a 50 day simple moving average of $14.45 and a 200-day simple moving average of $16.38. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of 10.18 and a beta of 0.58. Black Stone Minerals LP has a 12-month low of $13.61 and a 12-month high of $19.03.

The company also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 15th were paid a dividend of $0.37 per share. The ex-dividend date was Wednesday, August 14th. This represents a $1.48 annualized dividend and a dividend yield of 10.03%. Black Stone Minerals’s dividend payout ratio is currently 102.07%.

About Black Stone Minerals

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: What is a portfolio manager?

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Institutional Ownership by Quarter for Black Stone Minerals (NYSE:BSM)

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