First Trust Advisors LP Has $3.77 Million Stock Holdings in Black Stone Minerals, L.P. $BSM

First Trust Advisors LP decreased its position in Black Stone Minerals, L.P. (NYSE:BSM) by 12.3% during the 1st quarter, Holdings Channel reports. The firm owned 249,262 shares of the oil and gas producer’s stock after selling 34,918 shares during the quarter. First Trust Advisors LP’s holdings in Black Stone Minerals were worth $3,769,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Morgan Stanley lifted its holdings in Black Stone Minerals by 57.1% during the 4th quarter. Morgan Stanley now owns 7,107,673 shares of the oil and gas producer’s stock valued at $94,461,000 after purchasing an additional 2,582,823 shares during the last quarter. Northwestern University bought a new stake in Black Stone Minerals during the fourth quarter worth about $15,671,000. Saber Capital Managment LLC bought a new stake in Black Stone Minerals during the fourth quarter worth about $8,389,000. Forum Financial Management LP acquired a new stake in shares of Black Stone Minerals during the fourth quarter worth approximately $3,987,000. Finally, CIBC Bancorp USA Inc. acquired a new stake in shares of Black Stone Minerals during the third quarter worth approximately $3,512,000. Institutional investors and hedge funds own 14.49% of the company’s stock.

Analyst Upgrades and Downgrades

BSM has been the subject of a number of research analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of Black Stone Minerals in a research note on Tuesday, July 21st. Zacks Research upgraded Black Stone Minerals from a “strong sell” rating to a “hold” rating in a research report on Friday, July 31st. Finally, Royal Bank Of Canada started coverage on Black Stone Minerals in a report on Friday, May 29th. They set a “sector perform” rating and a $16.00 price target for the company. Five investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.00.

Insider Activity

In related news, Director Ashley J. Longmaid sold 11,128 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $13.45, for a total value of $149,671.60. Following the completion of the transaction, the director owned 137,335 shares in the company, valued at $1,847,155.75. The trade was a 7.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director D Mark Dewalch acquired 36,363 shares of Black Stone Minerals stock in a transaction on Monday, June 1st. The shares were purchased at an average cost of $13.62 per share, for a total transaction of $495,264.06. Following the acquisition, the director owned 631,248 shares in the company, valued at approximately $8,597,597.76. This represents a 6.11% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders have purchased 179,254 shares of company stock valued at $2,407,265 over the last three months. 17.70% of the stock is owned by insiders.

Black Stone Minerals Stock Down 1.4%

Shares of NYSE BSM opened at $14.57 on Thursday. Black Stone Minerals, L.P. has a 12-month low of $11.78 and a 12-month high of $15.49. The firm’s 50-day simple moving average is $14.10 and its 200 day simple moving average is $14.40. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.24. The company has a market cap of $3.10 billion, a price-to-earnings ratio of 12.04 and a beta of 0.04.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings data on Monday, August 3rd. The oil and gas producer reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.24. Black Stone Minerals had a net margin of 61.72% and a return on equity of 41.54%. The firm had revenue of $148.97 million during the quarter, compared to analysts’ expectations of $108.28 million. On average, research analysts expect that Black Stone Minerals, L.P. will post 0.96 earnings per share for the current fiscal year.

Black Stone Minerals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Thursday, August 6th will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a dividend yield of 8.8%. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, August 6th. Black Stone Minerals’s payout ratio is currently 94.49%.

Black Stone Minerals Company Profile

Black Stone Minerals L.P. (NYSE: BSM) is a publicly traded limited partnership that acquires and manages oil and natural gas mineral interests and producing royalty interests across the United States. The company’s business model centers on holding fractional ownership in subsurface mineral estates, which allows it to earn royalty income from hydrocarbon production without taking on the capital expenditures or operating risks associated with exploration and development.

Founded in 1876 and headquartered in Houston, Texas, Black Stone Minerals has built a diversified portfolio spanning key U.S.