Black Stone Minerals, L.P. (NYSE:BSM) Shares Sold by Baker Ellis Asset Management LLC

Baker Ellis Asset Management LLC lowered its stake in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 7.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,000 shares of the oil and gas producer’s stock after selling 1,000 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Black Stone Minerals were worth $192,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of BSM. HBC Financial Services PLLC acquired a new position in Black Stone Minerals in the 4th quarter worth approximately $31,000. Newbridge Financial Services Group Inc. increased its holdings in Black Stone Minerals by 279.5% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 3,036 shares of the oil and gas producer’s stock worth $48,000 after buying an additional 2,236 shares during the period. Arlington Trust Co LLC acquired a new position in Black Stone Minerals in the 4th quarter worth approximately $100,000. Global Retirement Partners LLC acquired a new position in Black Stone Minerals in the 4th quarter worth approximately $135,000. Finally, Clear Street Markets LLC increased its holdings in Black Stone Minerals by 334.8% in the 4th quarter. Clear Street Markets LLC now owns 10,000 shares of the oil and gas producer’s stock worth $160,000 after buying an additional 7,700 shares during the period. Institutional investors and hedge funds own 14.49% of the company’s stock.

Black Stone Minerals Price Performance

Shares of NYSE:BSM opened at $15.67 on Friday. Black Stone Minerals, L.P. has a 1 year low of $14.88 and a 1 year high of $18.55. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of 10.18 and a beta of 0.90. The business’s 50 day moving average price is $15.95 and its 200-day moving average price is $15.95.

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

Black Stone Minerals Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 10th were given a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.57%. Black Stone Minerals’s dividend payout ratio (DPR) is 97.40%.

Analyst Upgrades and Downgrades

Several research firms have commented on BSM. KeyCorp began coverage on Black Stone Minerals in a research report on Thursday. They issued a “sector weight” rating on the stock. Piper Sandler upped their price objective on Black Stone Minerals from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, March 7th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.33.

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.