Citadel Advisors LLC boosted its holdings in shares of Black Stone Minerals LP (NYSE:BSM) by 82.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,650 shares of the oil and gas producer’s stock after buying an additional 11,150 shares during the quarter. Citadel Advisors LLC’s holdings in Black Stone Minerals were worth $408,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Tower Research Capital LLC TRC purchased a new position in Black Stone Minerals during the fourth quarter valued at approximately $170,000. Rockefeller Capital Management L.P. acquired a new stake in Black Stone Minerals in the first quarter valued at approximately $185,000. Jane Street Group LLC acquired a new stake in Black Stone Minerals in the fourth quarter valued at approximately $221,000. Renaissance Technologies LLC acquired a new stake in Black Stone Minerals in the fourth quarter valued at approximately $245,000. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Black Stone Minerals in the fourth quarter valued at approximately $297,000. 11.22% of the stock is currently owned by institutional investors.
In other news, SVP Luke Stevens Putman sold 25,000 shares of Black Stone Minerals stock in a transaction on Monday, April 16th. The shares were sold at an average price of $17.53, for a total transaction of $438,250.00. Following the completion of the sale, the senior vice president now directly owns 277,367 shares in the company, valued at $4,862,243.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 25.10% of the company’s stock.
Shares of BSM opened at $18.11 on Friday. The company has a market capitalization of $3.69 billion, a price-to-earnings ratio of 21.27 and a beta of 0.40. Black Stone Minerals LP has a twelve month low of $15.33 and a twelve month high of $19.03. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.82 and a quick ratio of 1.82.
Black Stone Minerals (NYSE:BSM) last announced its earnings results on Monday, May 7th. The oil and gas producer reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.23. The company had revenue of $114.49 million during the quarter, compared to the consensus estimate of $106.00 million. Black Stone Minerals had a net margin of 20.78% and a return on equity of 11.19%. equities analysts predict that Black Stone Minerals LP will post 1.01 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 24th. Stockholders of record on Thursday, May 17th were paid a dividend of $0.313 per share. This is an increase from Black Stone Minerals’s previous quarterly dividend of $0.31. This represents a $1.25 annualized dividend and a dividend yield of 6.91%. The ex-dividend date was Wednesday, May 16th. Black Stone Minerals’s payout ratio is presently 123.76%.
BSM has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Black Stone Minerals from a “hold” rating to a “strong-buy” rating and set a $21.00 target price for the company in a research note on Wednesday, May 23rd. Stifel Nicolaus set a $18.00 target price on shares of Black Stone Minerals and gave the company a “hold” rating in a research note on Wednesday, February 28th. Citigroup lowered their target price on shares of Black Stone Minerals from $21.00 to $20.00 and set a “buy” rating for the company in a research note on Wednesday, March 28th. Finally, TheStreet upgraded shares of Black Stone Minerals from a “c” rating to a “b-” rating in a research note on Monday, April 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $19.67.
About Black Stone Minerals
Black Stone Minerals, L.P. owns and manages oil and natural gas mineral interests in the United States. The company owns mineral interests in approximately 16.8 million acres, nonparticipating royalty interests in 1.9 million acres, and overriding royalty interests in 2.1 million acres located in 41 states and in 64 onshore basins in the continental United States.
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