EP Wealth Advisors LLC Acquires Shares of 27,591 Black Stone Minerals, L.P. (NYSE:BSM)

EP Wealth Advisors LLC purchased a new stake in Black Stone Minerals, L.P. (NYSE:BSM) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 27,591 shares of the oil and gas producer’s stock, valued at approximately $417,000.

Other institutional investors also recently bought and sold shares of the company. Cadence Bank raised its stake in Black Stone Minerals by 2.6% in the 3rd quarter. Cadence Bank now owns 27,650 shares of the oil and gas producer’s stock valued at $418,000 after purchasing an additional 689 shares during the last quarter. Redhawk Wealth Advisors Inc. lifted its stake in shares of Black Stone Minerals by 10.1% in the third quarter. Redhawk Wealth Advisors Inc. now owns 16,005 shares of the oil and gas producer’s stock worth $242,000 after acquiring an additional 1,465 shares in the last quarter. MAS Advisors LLC raised its holdings in Black Stone Minerals by 5.4% in the second quarter. MAS Advisors LLC now owns 29,179 shares of the oil and gas producer’s stock valued at $457,000 after acquiring an additional 1,506 shares in the last quarter. BCS Wealth Management lifted its holdings in Black Stone Minerals by 15.1% during the 3rd quarter. BCS Wealth Management now owns 14,130 shares of the oil and gas producer’s stock worth $213,000 after buying an additional 1,852 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its position in shares of Black Stone Minerals by 3.3% in the 3rd quarter. Moors & Cabot Inc. now owns 93,450 shares of the oil and gas producer’s stock worth $1,411,000 after buying an additional 3,000 shares during the last quarter. 14.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on BSM shares. StockNews.com downgraded shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research report on Sunday, December 8th. Piper Sandler reduced their price target on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a research report on Monday, November 18th.

Black Stone Minerals Price Performance

Black Stone Minerals stock opened at $14.59 on Friday. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of 9.01 and a beta of 0.96. The company’s fifty day moving average price is $15.07 and its two-hundred day moving average price is $15.17. Black Stone Minerals, L.P. has a one year low of $13.94 and a one year high of $16.92.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.06. The firm had revenue of $134.86 million during the quarter, compared to the consensus estimate of $117.68 million. Black Stone Minerals had a net margin of 67.54% and a return on equity of 41.49%. During the same period in the prior year, the firm earned $0.27 EPS. As a group, sell-side analysts anticipate that Black Stone Minerals, L.P. will post 1.32 earnings per share for the current year.

Black Stone Minerals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Friday, November 8th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 10.28%. The ex-dividend date was Friday, November 8th. Black Stone Minerals’s dividend payout ratio (DPR) is 92.59%.

About Black Stone Minerals

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.