Axxcess Wealth Management LLC Buys 1,790 Shares of Black Stone Minerals, L.P. (NYSE:BSM)

Axxcess Wealth Management LLC lifted its stake in Black Stone Minerals, L.P. (NYSE:BSM) by 10.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 19,415 shares of the oil and gas producer’s stock after purchasing an additional 1,790 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Black Stone Minerals were worth $283,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in BSM. Citigroup Inc. boosted its stake in shares of Black Stone Minerals by 2.3% in the third quarter. Citigroup Inc. now owns 470,915 shares of the oil and gas producer’s stock valued at $7,111,000 after buying an additional 10,465 shares during the period. Larson Financial Group LLC bought a new stake in shares of Black Stone Minerals in the third quarter valued at approximately $54,000. Horizon Kinetics Asset Management LLC boosted its stake in shares of Black Stone Minerals by 65.9% in the third quarter. Horizon Kinetics Asset Management LLC now owns 275,638 shares of the oil and gas producer’s stock valued at $4,162,000 after buying an additional 109,500 shares during the period. Cadence Bank boosted its stake in shares of Black Stone Minerals by 2.6% in the third quarter. Cadence Bank now owns 27,650 shares of the oil and gas producer’s stock valued at $418,000 after buying an additional 689 shares during the period. Finally, Hilltop Holdings Inc. boosted its stake in shares of Black Stone Minerals by 47.3% in the third quarter. Hilltop Holdings Inc. now owns 19,300 shares of the oil and gas producer’s stock valued at $291,000 after buying an additional 6,200 shares during the period. 14.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. StockNews.com downgraded shares of Black Stone Minerals from a “buy” rating to a “hold” rating in a research report on Tuesday, February 25th. Piper Sandler boosted their price objective on shares of Black Stone Minerals from $14.00 to $16.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Finally, Royal Bank of Canada upgraded shares of Black Stone Minerals to a “hold” rating in a research report on Friday, March 14th.

Black Stone Minerals Price Performance

Shares of BSM opened at $15.26 on Friday. The firm has a 50 day simple moving average of $15.04 and a two-hundred day simple moving average of $14.91. The company has a market cap of $3.22 billion, a P/E ratio of 9.42 and a beta of 0.92. Black Stone Minerals, L.P. has a one year low of $13.78 and a one year high of $16.92.

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

Black Stone Minerals Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 25th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Tuesday, February 18th. This represents a $1.50 annualized dividend and a dividend yield of 9.83%. Black Stone Minerals’s dividend payout ratio (DPR) is presently 130.43%.

Black Stone Minerals 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.