Black Stone Minerals, L.P. (NYSE:BSM) Short Interest Down 11.6% in June

Black Stone Minerals, L.P. (NYSE:BSM) was the recipient of a large decrease in short interest in June. As of June 15th, there was short interest totalling 4,570,000 shares, a decrease of 11.6% from the May 31st total of 5,170,000 shares. Based on an average daily volume of 447,100 shares, the short-interest ratio is currently 10.2 days. Approximately 2.8% of the shares of the company are sold short.

Black Stone Minerals Stock Down 0.1 %

NYSE BSM traded down $0.02 on Wednesday, hitting $15.83. 275,947 shares of the stock were exchanged, compared to its average volume of 471,892. The company has a market cap of $3.33 billion, a PE ratio of 10.27 and a beta of 0.93. The company has a 50-day moving average price of $15.96 and a 200-day moving average price of $15.94. Black Stone Minerals has a fifty-two week low of $14.88 and a fifty-two week high of $18.55.

Black Stone Minerals (NYSE:BSM) last posted its earnings results on Monday, May 6th. The oil and gas producer reported $0.27 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.08). The firm had revenue of $105.49 million for the quarter, compared to analyst estimates of $119.50 million. Black Stone Minerals had a return on equity of 38.71% and a net margin of 66.29%. As a group, equities research analysts predict that Black Stone Minerals will post 1.47 EPS for the current fiscal year.

Black Stone Minerals Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Friday, May 10th were paid a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 9.48%. The ex-dividend date of this dividend was Thursday, May 9th. Black Stone Minerals’s dividend payout ratio (DPR) is 97.40%.

Institutional Investors Weigh In On Black Stone Minerals

Institutional investors and hedge funds have recently modified their holdings of the company. Tidal Investments LLC boosted its holdings in shares of Black Stone Minerals by 8.4% in the 1st quarter. Tidal Investments LLC now owns 90,566 shares of the oil and gas producer’s stock valued at $1,447,000 after purchasing an additional 7,006 shares during the last quarter. Cadence Bank lifted its position in shares of Black Stone Minerals by 3.1% during the first quarter. Cadence Bank now owns 26,350 shares of the oil and gas producer’s stock worth $421,000 after purchasing an additional 784 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc boosted its stake in shares of Black Stone Minerals by 200.0% in the first quarter. Texas Capital Bank Wealth Management Services Inc now owns 60,000 shares of the oil and gas producer’s stock valued at $959,000 after purchasing an additional 40,000 shares during the period. MAS Advisors LLC grew its holdings in Black Stone Minerals by 56.7% during the 1st quarter. MAS Advisors LLC now owns 27,673 shares of the oil and gas producer’s stock valued at $442,000 after purchasing an additional 10,014 shares in the last quarter. Finally, Prevail Innovative Wealth Advisors LLC acquired a new position in Black Stone Minerals in the 1st quarter worth $2,560,000. Institutional investors and hedge funds own 14.49% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on BSM shares. Piper Sandler upped their target price on shares of Black Stone Minerals from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. KeyCorp assumed coverage on shares of Black Stone Minerals in a report on Thursday, June 27th. They issued a “sector weight” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat, Black Stone Minerals currently has an average rating of “Hold” and an average price target of $19.33.

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.