JPMorgan Chase & Co. Makes New $76,000 Investment in Black Stone Minerals, L.P. (NYSE:BSM)

JPMorgan Chase & Co. bought a new position in shares of Black Stone Minerals, L.P. (NYSE:BSM) in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 5,000 shares of the oil and gas producer’s stock, valued at approximately $76,000.

Several other hedge funds also recently modified their holdings of BSM. EP Wealth Advisors LLC bought a new position in shares of Black Stone Minerals during the third quarter worth approximately $417,000. Stifel Financial Corp grew its stake in shares of Black Stone Minerals by 9.6% during the third quarter. Stifel Financial Corp now owns 173,775 shares of the oil and gas producer’s stock worth $2,624,000 after buying an additional 15,236 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of Black Stone Minerals by 1.7% during the third quarter. HighTower Advisors LLC now owns 404,828 shares of the oil and gas producer’s stock worth $6,113,000 after purchasing an additional 6,898 shares during the period. Hilltop Holdings Inc. lifted its holdings in shares of Black Stone Minerals by 47.3% during the third quarter. Hilltop Holdings Inc. now owns 19,300 shares of the oil and gas producer’s stock worth $291,000 after purchasing an additional 6,200 shares during the period. Finally, Cadence Bank lifted its holdings in shares of Black Stone Minerals by 2.6% during the third quarter. Cadence Bank now owns 27,650 shares of the oil and gas producer’s stock worth $418,000 after purchasing an additional 689 shares during the period. Institutional investors own 14.49% of the company’s stock.

Black Stone Minerals Stock Performance

NYSE BSM opened at $14.64 on Tuesday. The company has a market capitalization of $3.08 billion, a price-to-earnings ratio of 9.04 and a beta of 0.94. The company’s 50-day simple moving average is $14.80 and its two-hundred day simple moving average is $14.89. Black Stone Minerals, L.P. has a one year low of $13.78 and a one year high of $16.92.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, November 4th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.06. Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. The business had revenue of $134.86 million during the quarter, compared to the consensus estimate of $117.68 million. During the same period in the prior year, the company earned $0.27 earnings per share. Equities analysts expect that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BSM shares. StockNews.com upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating in a report on Monday, December 16th. Piper Sandler decreased their price objective on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating for the company in a research note on Monday, November 18th.

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.