Clarus Group Inc. Trims Stake in Black Stone Minerals, L.P. (NYSE:BSM)

Clarus Group Inc. lowered its stake in Black Stone Minerals, L.P. (NYSE:BSM) by 0.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 333,996 shares of the oil and gas producer’s stock after selling 1,000 shares during the period. Black Stone Minerals makes up approximately 1.7% of Clarus Group Inc.’s portfolio, making the stock its 15th largest position. Clarus Group Inc.’s holdings in Black Stone Minerals were worth $4,876,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Penn Davis Mcfarland Inc. lifted its stake in shares of Black Stone Minerals by 18.1% during the 4th quarter. Penn Davis Mcfarland Inc. now owns 1,601,182 shares of the oil and gas producer’s stock worth $23,377,000 after purchasing an additional 245,009 shares during the period. Fiducient Advisors LLC purchased a new position in shares of Black Stone Minerals during the 3rd quarter worth $12,253,000. ING Groep NV lifted its stake in shares of Black Stone Minerals by 5.9% during the 3rd quarter. ING Groep NV now owns 652,900 shares of the oil and gas producer’s stock worth $9,859,000 after purchasing an additional 36,300 shares during the period. Citigroup Inc. lifted its stake in shares of Black Stone Minerals by 2.3% during the 3rd quarter. Citigroup Inc. now owns 470,915 shares of the oil and gas producer’s stock worth $7,111,000 after purchasing an additional 10,465 shares during the period. Finally, HighTower Advisors LLC lifted its stake in shares of Black Stone Minerals by 1.7% during the 3rd quarter. HighTower Advisors LLC now owns 404,828 shares of the oil and gas producer’s stock worth $6,113,000 after purchasing an additional 6,898 shares during the period. Hedge funds and other institutional investors own 14.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BSM. Piper Sandler reduced their price target on Black Stone Minerals from $15.00 to $14.00 and set a “neutral” rating on the stock in a research note on Monday, November 18th. StockNews.com raised Black Stone Minerals from a “hold” rating to a “buy” rating in a research note on Monday, December 16th.

Black Stone Minerals Stock Up 2.5 %

BSM stock opened at $15.14 on Tuesday. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 9.35 and a beta of 0.94. The business has a fifty day simple moving average of $14.74 and a 200-day simple moving average of $14.86. Black Stone Minerals, L.P. has a 52 week low of $13.78 and a 52 week high of $16.92.

Black Stone Minerals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 18th will be issued a dividend of $0.375 per share. The ex-dividend date of this dividend is Tuesday, February 18th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.91%. Black Stone Minerals’s payout ratio is 92.59%.

About Black Stone Minerals

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.