Evergreen Capital Management LLC bought a new stake in Black Stone Minerals, L.P. (NYSE:BSM) during the second quarter, according to its most recent 13F filing with the SEC. The fund bought 553,695 shares of the oil and gas producer’s stock, valued at approximately $8,726,000. Black Stone Minerals, L.P. comprises about 1.4% of Evergreen Capital Management LLC’s investment portfolio, making the stock its 21st largest position. Evergreen Capital Management LLC owned approximately 0.29% of Black Stone Minerals, L.P. at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Global X Management Co. LLC boosted its position in shares of Black Stone Minerals, L.P. by 3.4% in the first quarter. Global X Management Co. LLC now owns 27,179 shares of the oil and gas producer’s stock valued at $449,000 after buying an additional 890 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Black Stone Minerals, L.P. by 8.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 11,900 shares of the oil and gas producer’s stock valued at $196,000 after buying an additional 902 shares during the period. Kempner Capital Management Inc. boosted its position in shares of Black Stone Minerals, L.P. by 7.4% in the second quarter. Kempner Capital Management Inc. now owns 73,009 shares of the oil and gas producer’s stock valued at $1,151,000 after buying an additional 5,000 shares during the period. Alliancebernstein L.P. boosted its position in shares of Black Stone Minerals, L.P. by 40.6% in the first quarter. Alliancebernstein L.P. now owns 17,434 shares of the oil and gas producer’s stock valued at $288,000 after buying an additional 5,034 shares during the period. Finally, Bank of America Corp DE boosted its position in shares of Black Stone Minerals, L.P. by 17.0% in the first quarter. Bank of America Corp DE now owns 52,859 shares of the oil and gas producer’s stock valued at $873,000 after buying an additional 7,696 shares during the period. 21.36% of the stock is owned by hedge funds and other institutional investors.

Shares of Black Stone Minerals, L.P. (NYSE BSM) opened at 17.05 on Tuesday. The firm has a market cap of $3.34 billion, a price-to-earnings ratio of 23.17 and a beta of 0.30. Black Stone Minerals, L.P. has a 52-week low of $15.12 and a 52-week high of $19.86. The company’s 50-day moving average is $16.38 and its 200 day moving average is $16.54.

Black Stone Minerals, L.P. (NYSE:BSM) last issued its quarterly earnings data on Monday, August 7th. The oil and gas producer reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.14. Black Stone Minerals, L.P. had a net margin of 22.71% and a return on equity of 12.67%. The business had revenue of $120.52 million for the quarter, compared to analysts’ expectations of $95.87 million. On average, analysts expect that Black Stone Minerals, L.P. will post $0.76 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 24th. Shareholders of record on Thursday, August 17th were given a $0.313 dividend. The ex-dividend date of this dividend was Tuesday, August 15th. This is a boost from Black Stone Minerals, L.P.’s previous quarterly dividend of $0.29. This represents a $1.25 annualized dividend and a yield of 7.34%. Black Stone Minerals, L.P.’s payout ratio is 150.60%.

ILLEGAL ACTIVITY WARNING: This report was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this report on another site, it was stolen and republished in violation of US & international copyright and trademark legislation. The correct version of this report can be accessed at https://www.watchlistnews.com/evergreen-capital-management-llc-buys-shares-of-553695-black-stone-minerals-l-p-bsm/1529899.html.

Several research analysts recently issued reports on the stock. TheStreet raised shares of Black Stone Minerals, L.P. from a “c” rating to a “b-” rating in a report on Friday. Zacks Investment Research raised shares of Black Stone Minerals, L.P. from a “sell” rating to a “hold” rating in a report on Tuesday, July 25th. Scotiabank set a $20.00 target price on shares of Black Stone Minerals, L.P. and gave the stock a “hold” rating in a report on Saturday, July 22nd. Barclays PLC reissued an “overweight” rating and set a $19.00 target price (down previously from $20.00) on shares of Black Stone Minerals, L.P. in a report on Wednesday, May 17th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $18.00 target price on shares of Black Stone Minerals, L.P. in a report on Friday, July 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $19.00.

In related news, CEO Thomas L. Carter, Jr. purchased 7,750 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The shares were purchased at an average price of $15.86 per share, with a total value of $122,915.00. Following the purchase, the chief executive officer now owns 1,124,273 shares of the company’s stock, valued at approximately $17,830,969.78. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alexander D. Stuart purchased 18,650 shares of the company’s stock in a transaction that occurred on Friday, June 9th. The stock was bought at an average cost of $16.00 per share, for a total transaction of $298,400.00. Following the purchase, the director now directly owns 310,698 shares in the company, valued at approximately $4,971,168. The disclosure for this purchase can be found here. 24.30% of the stock is currently owned by insiders.

Black Stone Minerals, L.P. Company Profile

Black Stone Minerals, L.P. is an owner of oil and natural gas mineral interests in the United States. The Company’s principal business is maximizing the value of its existing portfolio of mineral and royalty assets through active management and expanding its asset base through acquisitions of additional mineral and royalty interests.

Want to see what other hedge funds are holding BSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Black Stone Minerals, L.P. (NYSE:BSM).

Institutional Ownership by Quarter for Black Stone Minerals, L.P. (NYSE:BSM)

Receive News & Ratings for Black Stone Minerals L.P. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Black Stone Minerals L.P. and related companies with Analyst Ratings Network's FREE daily email newsletter.