Toronto Dominion Bank decreased its position in Black Stone Minerals LP (NYSE:BSM) by 38.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 163,200 shares of the oil and gas producer’s stock after selling 100,100 shares during the quarter. Toronto Dominion Bank owned 0.16% of Black Stone Minerals worth $2,830,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. FMR LLC raised its holdings in Black Stone Minerals by 7.7% during the second quarter. FMR LLC now owns 1,766,800 shares of the oil and gas producer’s stock worth $27,845,000 after purchasing an additional 127,052 shares in the last quarter. Freestone Capital Holdings LLC raised its holdings in Black Stone Minerals by 64.5% during the second quarter. Freestone Capital Holdings LLC now owns 110,209 shares of the oil and gas producer’s stock worth $1,737,000 after purchasing an additional 43,209 shares in the last quarter. Evergreen Capital Management LLC acquired a new stake in Black Stone Minerals during the second quarter worth approximately $8,726,000. Goldman Sachs Group Inc. raised its holdings in Black Stone Minerals by 54.8% during the second quarter. Goldman Sachs Group Inc. now owns 1,541,051 shares of the oil and gas producer’s stock worth $24,287,000 after purchasing an additional 545,689 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in Black Stone Minerals by 17.0% during the first quarter. Bank of America Corp DE now owns 52,859 shares of the oil and gas producer’s stock worth $873,000 after purchasing an additional 7,696 shares in the last quarter. 21.98% of the stock is currently owned by hedge funds and other institutional investors.
Black Stone Minerals LP (NYSE BSM) traded up $0.15 during trading on Thursday, hitting $17.93. 98,547 shares of the company traded hands, compared to its average volume of 152,030. Black Stone Minerals LP has a 1-year low of $15.12 and a 1-year high of $19.86. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 0.46. The stock has a market cap of $1,859.10, a price-to-earnings ratio of 21.15 and a beta of 0.30.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Friday, November 17th were given a $0.313 dividend. The ex-dividend date was Thursday, November 16th. This represents a $1.25 annualized dividend and a dividend yield of 6.98%. Black Stone Minerals’s dividend payout ratio is presently 147.06%.
A number of brokerages have recently commented on BSM. Zacks Investment Research raised shares of Black Stone Minerals from a “sell” rating to a “hold” rating in a report on Friday, November 10th. TheStreet cut shares of Black Stone Minerals from a “b-” rating to a “c” rating in a report on Monday, October 30th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $18.00 target price on shares of Black Stone Minerals in a report on Friday, September 22nd. Finally, Piper Jaffray Companies lowered their price objective on shares of Black Stone Minerals from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, September 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $18.60.
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Black Stone Minerals 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.
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