Virtu Financial LLC Invests $281,000 in Black Stone Minerals, L.P. (NYSE:BSM)

Virtu Financial LLC acquired a new stake in shares of Black Stone Minerals, L.P. (NYSE:BSM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,620 shares of the oil and gas producer’s stock, valued at approximately $281,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Citigroup Inc. grew its holdings in Black Stone Minerals by 9,778.6% in the 3rd quarter. Citigroup Inc. now owns 39,218 shares of the oil and gas producer’s stock worth $676,000 after acquiring an additional 38,821 shares during the last quarter. Mariner LLC increased its stake in shares of Black Stone Minerals by 241.0% during the third quarter. Mariner LLC now owns 50,514 shares of the oil and gas producer’s stock valued at $870,000 after buying an additional 35,702 shares during the period. Stifel Financial Corp increased its stake in shares of Black Stone Minerals by 1.6% during the third quarter. Stifel Financial Corp now owns 148,292 shares of the oil and gas producer’s stock valued at $2,555,000 after buying an additional 2,405 shares during the period. Cadence Bank raised its holdings in shares of Black Stone Minerals by 2.8% during the third quarter. Cadence Bank now owns 24,896 shares of the oil and gas producer’s stock valued at $429,000 after acquiring an additional 670 shares in the last quarter. Finally, Axxcess Wealth Management LLC purchased a new stake in Black Stone Minerals in the third quarter worth $212,000. Institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Trading Up 0.6 %

BSM opened at $15.76 on Friday. The company has a market cap of $3.31 billion, a price-to-earnings ratio of 10.23 and a beta of 0.90. The stock has a fifty day simple moving average of $15.94 and a two-hundred day simple moving average of $15.97. Black Stone Minerals, L.P. has a 12-month low of $14.88 and a 12-month high of $18.55.

Black Stone Minerals (NYSE:BSM) last issued its quarterly earnings results on Monday, May 6th. The oil and gas producer reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.08). Black Stone Minerals had a return on equity of 38.71% and a net margin of 66.29%. The business had revenue of $105.49 million during the quarter, compared to the consensus estimate of $119.50 million. On average, analysts predict that Black Stone Minerals, L.P. will post 1.47 EPS for the current year.

Black Stone Minerals Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 10th were given a $0.375 dividend. The ex-dividend date was Thursday, May 9th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.52%. Black Stone Minerals’s dividend payout ratio is currently 97.40%.

Analyst Upgrades and Downgrades

Separately, Piper Sandler upped their price objective on shares of Black Stone Minerals from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 7th.

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.