Clark Estates Inc. NY Cuts Stake in Black Stone Minerals, L.P. (NYSE:BSM)

Clark Estates Inc. NY lessened its holdings in shares of Black Stone Minerals, L.P. (NYSE:BSM) by 10.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 160,368 shares of the oil and gas producer’s stock after selling 19,432 shares during the period. Clark Estates Inc. NY owned approximately 0.08% of Black Stone Minerals worth $2,341,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Investment Management Associates Inc. ADV raised its stake in Black Stone Minerals by 30.8% in the fourth quarter. Investment Management Associates Inc. ADV now owns 1,544,182 shares of the oil and gas producer’s stock valued at $22,545,000 after buying an additional 363,962 shares during the last quarter. Penn Davis Mcfarland Inc. raised its position in shares of Black Stone Minerals by 18.1% in the 4th quarter. Penn Davis Mcfarland Inc. now owns 1,601,182 shares of the oil and gas producer’s stock valued at $23,377,000 after purchasing an additional 245,009 shares during the last quarter. LMG Wealth Partners LLC acquired a new stake in Black Stone Minerals in the 4th quarter worth approximately $2,194,000. Horizon Kinetics Asset Management LLC lifted its stake in shares of Black Stone Minerals by 65.9% during the third quarter. Horizon Kinetics Asset Management LLC now owns 275,638 shares of the oil and gas producer’s stock worth $4,162,000 after buying an additional 109,500 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its position in Black Stone Minerals by 341.5% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 57,790 shares of the oil and gas producer’s stock worth $844,000 after acquiring an additional 44,700 shares during the period. Institutional investors and hedge funds own 14.49% of the company’s stock.

Black Stone Minerals Stock Performance

Shares of BSM opened at $14.53 on Wednesday. The stock has a 50 day moving average price of $14.91 and a 200 day moving average price of $14.90. Black Stone Minerals, L.P. has a one year low of $13.78 and a one year high of $16.92. The stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of 8.97 and a beta of 0.94.

Black Stone Minerals (NYSE:BSM) last posted its quarterly earnings results on Monday, February 24th. The oil and gas producer reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.21). Black Stone Minerals had a return on equity of 41.49% and a net margin of 67.54%. The business had revenue of $83.73 million for the quarter, compared to analyst estimates of $115.46 million. On average, analysts predict that Black Stone Minerals, L.P. will post 1.36 earnings per share for the current year.

Black Stone Minerals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Investors of record on Tuesday, February 18th were issued a $0.375 dividend. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.50 annualized dividend and a dividend yield of 10.33%. Black Stone Minerals’s dividend payout ratio is presently 130.43%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BSM shares. Piper Sandler lowered their price target on shares of Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a report on Monday, November 18th. StockNews.com downgraded Black Stone Minerals from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th.

Black Stone Minerals Company Profile

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.